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Gold Rate Today in India: Gold prices have strengthened for the third consecutive day, driven by a weak US dollar and a rally in global markets, whereas silver has come under pressure due to subdued industrial demand. Regarding gold, following a day of stability, the price of 10 grams of 24-carat gold has risen by ₹760 and 22-carat gold by ₹710 over the last three days; before the pause on August 16, prices had surged by ₹1,530 for 24-carat gold and ₹1,400 for 22-carat gold over two consecutive days. Today, the price of 10 grams of both 24-carat and 22-carat gold has increased by ₹10 in the national capital, Delhi. In contrast, silver prices have dipped today; after remaining stable for four consecutive days, the rate has fallen, with the price of one kilogram of silver dropping by ₹100. City-wise Gold Prices

Let’s find out the price of 10 grams of gold (18-carat, 22-carat, and 24-carat purity) across 10 major cities in the country...

City    24-Carat Gold Price (10g)    22-Carat Gold Price (10g)    18-Carat Gold Price (10g)
Delhi                      ₹1,56,050                    ₹1,43,060                         ₹1,17,080
Mumbai                 ₹1,55,900                    ₹1,42,910                          ₹1,16,930
Kolkata                  ₹1,55,900                     ₹1,42,910                         ₹1,16,930
Chennai                ₹1,55,900                      ₹1,42,910                         ₹1,20,710
Bengaluru             ₹1,55,900                      ₹1,42,910                         ₹1,16,930
Hyderabad            ₹1,55,900                      ₹1,42,910                           ₹1,16,930
Lucknow               ₹1,56,050                       ₹1,43,060                          ₹1,17,080
Patna                    ₹1,55,950                      ₹1,42,960                           ₹1,16,980
Jaipur                   ₹1,56,050                       ₹1,43,060                            ₹1,17,080
Ahmedabad         ₹1,55,950                     ₹1,42,960                             ₹1,16,980

Silver Prices Drop After Four Days of Stability

As for silver, prices have declined today following four consecutive days of stability. In Delhi, the price of one kilogram of silver has dropped by ₹100, bringing it to ₹2,49,900. Regarding other major metropolitan cities, it is trading at the same price in Mumbai and Kolkata as well. However, the price of one kilogram of silver in Chennai stands at ₹2,54,900, meaning silver is most expensive in Chennai among the four major metropolitan cities.

What the experts say

According to Saumil Gandhi, Senior Analyst (Commodities) at HDFC Securities, expectations of a hawkish stance by the Federal Reserve have diminished following weak economic data from the US. This increased pressure on the dollar and provided support to gold. Last week, US data regarding inflation, employment, and retail sales came in below expectations, leading the market to believe that the Fed might avoid raising interest rates in the near term.

On the geopolitical front, US-Iran tensions remain a key focus for the market. However, this week, investors will be closely watching the minutes of the US Fed's FOMC meeting. According to Jatin Trivedi, Vice President – ​​Research Analyst (Commodities and Currency) at LKP Securities, the Fed minutes could provide clues regarding future interest rate moves, which will help determine the next trajectory of gold prices.