Gold Prices India, August 5: Check Latest 18K, 22K, 24K Yellow Metal Prices, Silver Gains

Gold prices in India remained steady on August 5 after witnessing marginal decline on August 3, 2024 as US gold prices eased on Monday. 22K gold prices today stood at Rs 64,700/10 grams and 100 grams of 22 carat yellow metal prices today in India recorded at Rs 6,47,000. 24K gold prices today remained steady at Rs 70,580/10 grams and 100 grams of 24 carat precious metal prices are retailing at Rs 7,05,800.

On the other hand, 18k gold prices too did not witness any changes today and stood at Rs 52,940/10 grams while 100 grams of 18 carat gold price today remained stable at Rs 5,29,400.

Spot Gold, Spot Silver Prices Today: Spot gold fell 0.1% to $2,439.94 per ounce by 0158 GMT. US gold futures surged 0.5% to $2,482.00. Spot silver remained slightly changed at $28.55 per ounce, platinum declined 0.76% to $950.60 and palladium slipped by 0.8% to $884.73, according to Reuters.

According to Dr. Renisha Chainani, Head Research - Augmont - Gold For All, "Gold prices continue a winning streak above Rs 70000 getting support for risk-off sentiment in the market. Treasury yields have been falling sharply since last week when the Federal Reserve kept the policy rate in its current 5.25% to 5.50% range and Chair Jerome Powell hinted at a rate cut in September. However, after data showed the unemployment rate jumped in July, it has sparked chatter that the U.S. economy may be heading for a recession, and expectations for rate cuts deepened."

According to CME FedWatch, Fed fund futures indicate a 70% chance of a 50 basis point cut at the central bank's September meeting, with 155 basis points expected this year and a similar amount in 2025. Moreover, the yen has risen 10% against the dollar in just over 3 weeks, owing to the Bank of Japan's recent 15 basis point rate hike to 0.25% and the announcement of halving monthly bond purchases over the next coup, added Renisha Chainani.

Silver Prices Today In India: Silver prices in India today rallied by Rs 200 to Rs 85,700. 100 grams silver prices today in India surged by Rs 20 to Rs 8,570.

22k/10 Grams Gold Price Movement In Last 10-Days In India

Gold prices in India today remained steady, stayed unchanged on August 4, slipped by Rs 100 on August 3, surged by Rs 300 on August 2, zoomed by Rs 500 on August 1, surged by Rs 800 on July 31, declined by Rs 200 on July 30, rallied by Rs 150 on July 29, stayed steady on July 28, soared by Rs 250 on July 27, slipped by Rs 1000 on July 26, and fell sharply by Rs 950 on July 25.

1kg Silver price India movement in last 10-days

Silver price in India today surged by Rs 200, ,remained stable on August 4, declined sharply by Rs 1700 on August 3, rallied by Rs 100 on August 2, rose by Rs 600 on August 1, rallied by Rs 2000 on July 31, declined by Rs 500 on July 30, rose by Rs 500 on July 29, remained steady on July 29, July 27, and July 26, and witnessed sharp fall of Rs 3000 on July 25.

1 Gram of 22k Gold Rate In 5 Major Metropolitan Cities Of India On August 5, 2024:

Gold Price Chennai: Price of 1 gram of 22 carat of gold price Chennai today is Rs 6,470

Yellow Metal Price Mumbai: Price of 1 gram of 22 carat gold in Mumbai on August 5 is Rs 6,470

Precious Metal Price Delhi: Price of 1 gram of 22 carat yellow metal in Delhi on August 5 is Rs 6,485

Gold Price Kolkata: Price of 1 gram of 22 carat of yellow metal in Kolkata on August 5, 2024 is Rs 6,470

Gold Price Kerala: Cost of 1 gram of 22K gold in Kerala on August 5 is Rs 6,470

Yellow Metal Price Bangalore: Price of 1 gram of 22 carat gold in Bangalore on August 5 is Rs 6,470.