HUGE CRASH In Gold Rate in India Today: 24K/100g Gold Drops By Rs. 8,800; Check Today’s Gold & Silver Prices

In the second week of August, gold rate in India is falling continuously, bringing joy to gold enthusiasts and buyers. The 22-carat gold rate today fell by approximately Rs. 8000 per 100 grams, which is the second major drop this week, post Raksha Bandhan correction in gold prices.

Gold in the international bullion market rose above $3300 per ounce after a previous decline because of the dollar recovery, which put downward pressure on global gold rates, including India. As a result, the yellow metal is now more affordable, especially during the high-demand festive season.

With gold prices falling in India, many people are likely to buy more gold jewellery and coins. The lower gold prices today could encourage more people to shop for gold, increasing the overall demand in the country.

Gold Rate in India Today

As of today, August 12th, the 22-carat gold rate in India declined by Rs. 800 per 10 grams to cost Rs. 92,950 per 10 grams. While the 24-carat gold prices today fell by Rs. 8800 and are currently retailing at Rs. 1,01,400 per 10 grams. Similarly, the 18-carat gold rate today also declined by Rs 660 per 10 grams to cost Rs 76,050.

Similarly, 100 grams of 22-carat gold stand at Rs 9,29,500 after dropping Rs 8,000. While the 24-carat gold price in India per 100 grams is now retailing at Rs 1,014,000, which has dropped by Rs 8,800.

Silver Rate in India Today

Silver prices in India today also fell sharply on August 12, as 1 kg of silver in India now costs Rs. 1,15,000, which dropped by Rs. 2,000. While 100 g of silver rates in India cost Rs 15,000 after falling by Rs 200.

MCX Gold and Silver Futures Update

On the Multi-Commodity Exchange (MCX), gold futures slated to mature on October 5th, 2025, also witnessed a massive drop and are currently trading at Rs. 1,00,246 per 10 grams after slipping 0.08%. Similarly, silver futures, which are set to expire on September 5th, declined today by 0.21% to trade at Rs. 1,13,539 per kg at the time of writing.

Market Outlook for Gold & Silver Prices

"We expect precious metals prices on Indian bourses to trade range-bound to slightly lower for the day, as gold prices held a loss after President Donald Trump said imports of bullion won't be subject to US tariffs, although traders were still waiting for formal clarification over the policy following a federal ruling last week that sowed chaos and confusion across the market." As per Nirmal Bang Securities.

City-Wise Gold Rates Today

Major metropolitan cities in India, including Chennai, Mumbai, Bangalore, and Hyderabad, mirrored this humongous drop in the gold rates today. Here's the latest city-wise update on 22-carat and 24-carat gold rates on August 12th.

Spot Gold Prices + Spot Silver Price Today

According to the latest report by Reuters, "Spot gold was up 0.2% at $3,350.03 per ounce as of 0146 GMT. U.S. gold futures for December delivery were steady at $3,402.80. While spot silver gained 0.6% to $37.81 per ounce,"

"Spot Gold is likely to move back towards $3330 as long as it trades under $3400 on easing safe haven demand and extension of the tariff truce with China. Additionally, easing geopolitical tension ahead of this week's Trump-Putin meet would weigh on price. Meanwhile, investors will keep an eye on key US inflation data. A forecast of a rise in CPI YoY would hurt the rate cut outlook and restrict its upside." As per the ICICI Commodity Report.

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