Gold Prices Retreat In India, Aug 3: Gold Price Slips After Rising For 3-Days, Sharp Dip In Silver

Gold prices in India on Saturday declined after rising for 3 consecutive days amid prospects of rates cuts and weaker than expected US jobs data. 22k gold prices today in India stood at Rs 64,700/10 grams after falling by Rs 100 while 100 grams of 22 carat precious metal prices slipped by Rs 1000 to Rs 6,47,000. 24k gold prices today in the country dived by Rs 110 to Rs 70,580/10 grams and 100 grams of 24 carat yellow metal prices fell by Rs 1100 to Rs 7,05,800 on August 3, 2024. 18k gold price today declined by Rs 80 to Rs 52,940/10 grams and 10 grams of 18 carat yellow metal fell by Rs 800 to Rs 5,29,400.

Earlier, yellow metal prices glittered for 3 consecutive days amid soaring safe haven demand as a result of rising Middle East tension after an air strike in Iran and Lebanon that claimed the life of top Hamas and Hezbollah officials.

Spot Gold, Spot Silver Prices Today: Spot gold declined 0.7% to $2,428.36 per ounce as of 1708 GMT. U.S. gold futures fell 0.4% to $2,471.50. Meanwhile, spot silver slipped 0.7% to $28.34 per ounce, platinum jumped 0.2% to $960.60 and palladium declined 2.02% to $886.84. Silver and platinum are set for weekly gains, according to Reuters.

Silver Prices Today In India: Silver prices in India today witnessed sharp decline. 1kg silver prices today in India declined by Rs 1700 to Rs 85,500. 100 grams silver prices today stood at Rs 8,550 after falling by Rs 170.

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

Gold prices in India today slipped by Rs 100, 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, fell sharply by Rs 950 on July 25, and remained stable on July 24.

1kg Silver price India movement in last 10-days

Silver price in India today declined sharply by Rs 1700, 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, witnessed sharp fall of Rs 3000 on July 25, and declined by Rs 500 on July 24

According to Reuters, ""The marketplace just now is factoring in a better-than-70% chance for a 50-basis-point cut by the Fed at the September FOMC meeting," said Jim Wyckoff, senior market analyst at Kitco Metals in a note.

1 Gram of 22k Gold Rate In 5 Major Metropolitan Cities Of India On August 3, 2024:

Gold Price Chennai: Price of 1 gram of 22 carat of gold price Chennai today is Rs 6,450

Yellow Metal Price Mumbai: Price of 1 gram of 22 carat gold in Mumbai on August 3 is Rs 6,470

Precious Metal Price Delhi: Price of 1 gram of 22 carat yellow metal in Delhi on August 3 is Rs 6,485

Gold Price Kolkata: Price of 1 gram of 22 carat of yellow metal in Kolkata on August 3, 2024 is Rs 6,470

Gold Price Kerala: Cost of 1 gram of 22K gold in Kerala on August 3 is Rs 6,470

Yellow Metal Price Bangalore: Price of 1 gram of 22 carat gold in Bangalore on August 3 is Rs 6,470.