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Gold price : As of August 30, 2024, the prices for gold and silver in India have shown various movements across different cities, reflecting a nuanced landscape in precious metal markets. Here’s a detailed snapshot of today’s gold and silver rates, highlighting the fluctuations observed over the past week.
National Overview
Gold Prices:
- 24-carat Gold Rate: Rs 72,240 per 10 grams.
- 22-carat Gold Rate: Rs 66,220 per 10 grams.
- 24-carat Gold per Gram: Rs 7,224.
In the past week, the rate for 24-carathas experienced a modest increase of 0.6%. Over the last ten days, this increment has been consistent at the same percentage, reflecting a steady rise in the value of gold.
Silver Prices:
- Silver Rate: Rs 85,250 per kilogram.
The silver market has been slightly more volatile compared to gold.
Gold and Silver Rates in Major Cities
Delhi:
- Gold price: Rs 72,120 per 10 grams, up from Rs 71,480 on August 29 and Rs 71,690 on August 23.
- Silver Rate: Rs 85,100 per kilogram, showing a rise from Rs 84,060 on August 29 and a slight decrease from Rs 85,270 on August 23.
Mumbai:
- Gold price: Rs 72,240 per 10 grams. This is an increase from Rs 71,600 on August 29 and Rs 71,810 on August 23.
- Silver Rate: Rs 85,250 per kilogram, which is a rise from Rs 84,200 on August 29 and a decrease from Rs 85,420 on August 23.
Kolkata:
- Gold price: Rs 72,150 per 10 grams, compared to Rs 71,710 on August 29 and Rs 71,720 on August 23.
- Silver Rate: Rs 85,140 per kilogram, slightly higher than Rs 84,090 on August 29 but lower than Rs 85,310 on August 23.
Chennai:
- Gold price: Rs 72,450 per 10 grams, up from Rs 72,010 on August 29 and Rs 72,020 on August 23.
- Silver Rate: Rs 85,500 per kilogram, an increase from Rs 84,450 on August 29 but a slight decrease from Rs 85,670 on August 23.
MCX Futures
Gold MCX Futures:
- The October 2024 gold futures contracts were trading at Rs 72,169 per 10 grams, reflecting a marginal decline of 0.03% from the previous trading sessions.
Silver MCX Futures:
- The September 2024 silver futures contracts were priced at Rs 84,961 per kilogram, marking an increase of Rs 89 from the last recorded price.
Market Insights
Gold prices have shown a consistent upward trend this week across major Indian cities, albeit with slight variations in price. The price of gold has increased across different regions, reflecting a general bullish sentiment in the gold market. In contrast, silver prices exhibit more volatility, with some cities showing increases while others record decreases.
The MCX futures market further illustrates the dynamic nature of precious metal trading, with gold futures experiencing a minor drop, whereas silver futures are on an upward trajectory. These futures prices provide insights into market expectations and can often influence the spot prices seen in the broader market.
Overall, the precious metals market continues to be influenced by a range of factors including global economic conditions, currency fluctuations, and market sentiment. Investors and consumers alike should stay informed about these trends to make well-informed decisions in the evolving landscape of gold and silver investments.