Gold rate in India surged for two consecutive days, with 24 carats of 100 grams rising by Rs 9,300 and 10 grams gaining by Rs 930. The MCX market was closed on August 27; hence, gold and silver prices have reacted to the 50% US tariff on Indian goods during the August 29 session. Also, traders are focused on U.S. employment figures and PCE data for more insights on inflation and the US Fed rate cut.
Gold Rates In India:
Currently, 10 grams gold price stood at Rs 1,02,440 in 24 carat, and at Rs 10,24,400 in 100 grams of the same carat.
Meanwhile, 22 carat price was at Rs 93,900 in 10 grams gold and at Rs 9,39,000 in 100 grams gold.
Yellow metal has been rising since two consecutive day from August 26 to August 27, thanks to the optimism for demand in festive season like Ganesh Chaturthi, Onam and Teej.
100 grams gold price surged by Rs 5,500 in 24 carat on August 26, followed by another rally of Rs 3,800 on August 27. Meanwhile, 10 grams gold price gained by Rs 550 and Rs 380 in these two days.
From August 26 to August 27, gold prices have climbed by Rs 9,300 in 100 gram and up by Rs 930 in 10 grams of 24 carat.
Gold Prices In Your City:
Gold Rates In Chennai:
The price of gold in Chennai is at Rs 10,245 per gram for 24 karat gold, at Rs 9,391 per gram for 22 karat gold and at Rs 7,771 per gram for 18 karat gold (also called 999 gold).
Gold Rates In Bangalore:
The price of gold in Bangalore is at Rs 10,245 per gram for 24 karat gold, at Rs 9,391 per gram for 22 karat gold and at Rs 7,684 per gram for 18 karat gold (also called 999 gold).
Gold Rates In Hyderabad:
The price of gold in Hyderabad is at Rs 10,245 per gram for 24 karat gold, at Rs 9,391 per gram for 22 karat gold and at Rs 7,684 per gram for 18 karat gold (also called 999 gold).
Gold Rates In Delhi:
The price of gold in Delhi is at Rs 10,260 per gram for 24 karat gold, at Rs 9,406 per gram for 22 karat gold and at Rs 7,696 per gram for 18 karat gold (also called 999 gold).
Gold & Silver Prices Outlook:
According to Rahul Kalantri, VP Commodities, Mehta Equities, gold and silver remained stable in international markets, underpinned by continued safe-haven demand. Market sentiment remains cautious amid heightened geopolitical tensions and concerns over increased U.S. trade tariffs. A softer dollar also lent support to bullion, while the rupee's slide to record lows against the greenback added upward pressure on domestic prices. Traders are now eyeing upcoming U.S. employment figures and PCE data for insights into inflation trends and the Federal Reserve's potential response.
Further, Kalantri said, " Gold has support at $3365-3345 while resistance at $3412-3434. Silver has support at $38.45-38.25 while resistance is at $39.05-39.25. In INR gold has support at Rs1,01,140-1,01,850 while resistance at Rs1,02,950-1,03,150. Silver has support at Rs1,15,150-1,14,350 while resistance at Rs1,16,750, 1,17,250."
Also, Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities said, "The market focus now shifts to next week's US unemployment data and non-farm payrolls, which, along with expectations of a September Fed rate cut, are likely to keep gold supported. Meanwhile, geopolitical tensions surrounding the Russia-Ukraine conflict and ongoing peace talks continue to add volatility. Overall, gold maintains a positive bias with an expected trading range of Rs 99,000-Rs 1,02,000."
MCX Gold Price + MCX Silver Price
At the time of writing, MCX gold price with October 2025 expiry, traded at Rs 1,01,357 per 10 grams, down by Rs 185 or 0.2% on August 28th early trade.
On the other hand, MCX silver performed near all-time high. MCX silver with September expiry, traded at Rs 1,16,352 per 1kg, up by Rs 255 after hitting an intraday high of Rs 1,16,580 per 1kg --- which is closer to all-time high of Rs 1,16,729 per 1kg. Chances of silver crossing its latest peak is high.
SPOT GOLD PRICE + SPOT SILVER PRICE
Spot Gold dipped to around $3,380 per ounce on Thursday, but hovering close to a two-week high as investors awaited fresh policy signals ahead of Friday's PCE price index, the Fed's preferred inflation gauge, as per Trading Economics. Meanwhile, spot silver performed above $38.6 per ounce, trading near one-month highs as the dollar retreated.
Disclaimer: The recommendations made above are by market analysts and are not advised by either the author, nor Greynium Information Technologies. The author, nor the brokerage firm nor Greynium would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.
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