Massive Jump In Gold Rate In India Today! 24 Karat/100 Gm Up By Rs 10,900 On August 23; Check City-Wise Rates

Gold Rate in India Today: Gold prices in India saw a sharp increase on Saturday, hours after US Federal Reserve Chair Jerome Powell hinted at potential rate cuts in the coming months. As he highlighted the risk of the United States' tariffs on the global economy, investors are likely to turn to gold as a safe-haven asset.

The price of gold has seen a sharp rally over the past few months amid rising geopolitical tensions, global uncertainty and trade conflicts. Back in India, the sharp surge in prices of gold is a setback for those who were planning to buy gold ahead of the upcoming Ganesh festival.

Gold Rate in India Today

The 24-karat gold rate in India stood at Rs 10,162 per gram, after increasing by Rs 109 on Saturday. Likewise, the price of 22 karat gold rate in India today surged by around Rs 100 to Rs 9,135 per gram. Similarly, the price of 18 karat gold in India increased by Rs 81 per gram to Rs 7,621.

Gold rates in India have followed a significantly volatile trajectory in August, where the 24 karat gold rate started the month at a price below Rs 1 lakh. However, gold prices witnessed sharp increase since then and reached to a month-high mark of Rs 1,03,310 per 10 gram on August 8. Since then, the price of gold saw some correction. As of now, the precious metal is regaining momentum amid rising geopolitical tensions.

"Against high-level global uncertainty and a rising U.S. dollar, gold is still perceived as a safe haven. India's bullion market is reacting with caution, with jewellery demand still subdued as prices trade close to the ₹99,358 mark per 10 gm, a level that, though high, has spurred renewed interest from jewellers in anticipation of the upcoming festival season. This cost position is midway between past record highs and current troughs, providing a possible entry point," explained Aksha Kamboj, Vice President, India Bullion & Jewellers Association (IBJA) and Executive Chairperson, Aspect Global Ventures.

Silver Rates in India Today

The price of silver in India surged significantly over the past few months. Silver rate today increased to Rs 120 per gram and to Rs 1,20,000 per kilogram. Silver price has surged over the past few months due to rising industrial demand for the metal. For many retail jewellery buyers, the silver appears as an affordable alternative to gold.

"Silver prices are now at Rs 113,906 per kilogram, placing the metal on an upward trend due to consistent industrial demand and safe-haven purchases. Inserted in the middle of the sentence, that amount highlights the metal's current healthy valuation," added Kamboj.

Gold Rate Today: Check City-Wise Rates

City	24K Today	22K Today	18K Today
Chennai	₹10,162	₹9,315	₹7,705
Mumbai	₹10,162	₹9,315	₹7,621
Delhi	₹10,177	₹9,330	₹7,634
Kolkata	₹10,162	₹9,315	₹7,621
Bangalore	₹10,162	₹9,315	₹7,622
Hyderabad	₹10,162	₹9,315	₹7,621
Kerala	₹10,162	₹9,315	₹7,621
Pune	₹10,162	₹9,315	₹7,621

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