Gold Market
In the early hours of Wednesday, August 20, as investors awaited Fed Chair Jerome Powell’s address at Jackson Hole on Friday, yellow metal prices fell due to a stronger dollar.
MCX Gold October 3 futures increased by 0.08 percent at approximately 11:45 p.m. on Wednesday, August 20, to ₹98,776 per 10 grams, while MCX Silver September 5 contracts fell by 0.35 percent to ₹1,10,950 per kg.
Gold is still a popular investment choice for Indian individuals and investors since it is widely recognized as a traditional hedge against inflation and financial instability. However, global trends have a significant impact on its value. Indian gold prices are often volatile due to changes in bond yields, policy choices, and general market mood, highlighting how sensitive it is to changes in the world economy.
Today’s market
At 11:52 a.m. on August 20, the Indian Bullion Association (IBA) reported that the price of 24-carat gold was ₹99,050 per 10 gms, while the price of 22-carat gold was ₹90,796 per 10 gms. According to the IBA website, the current price of silver is ₹1,11,470 (Silver 999 Fine).
Bhopal
Today, 24 carat gold costs ₹10,020 per gram in Bhopal, 22 carat gold costs ₹9,185 per gram, and 18 carat gold (also known as 999 gold) costs ₹7,515 per gram.
Bengaluru
Bengaluru’s current gold prices are Rs 9,180 per gramme for 22-karat gold and Rs 10,015 per gramme for 24-karat gold, also referred to as 999 gold.
Mumbai
The current prices for gold in Mumbai are Rs 10,015 per gramme for 24-karat gold (often referred to as 999 gold) and Rs 9,180 per gramme for 22-karat gold.
