Gold Rate In India: Cheapest Gold On Ganesh Chaturthi? Gold Prices In Your City, MCX Closed On August 27

Gold Rates In India: With the celebration of Ganesh Chaturthi kicking off on August 27, the gold prices in India have seen significant movement. On August 26, gold rates skyrocketed by Rs 5,500 in 100 grams and by Rs 550 in 10 grams under 24 carat. Although gold and silver prices will not be available for trading at MCX due to the celebration of the auspicious Ganesha festival in Maharashtra, sentiment in precious metals will be driven by festive demand and US tariffs.

"Wednesday will be a holiday for Ganesh Chaturthi. But it coincides with the possible rollout of the 50% US tariffs on Indian goods, a development that could weigh on sentiment," said Hariprasad K, SEBI-registered Research Analyst and Founder - Livelong Wealth.

Gold Rates In India:

At present, the cheapest price of gold in India is at Rs 10,207 per gram for 24 karat gold, at Rs 9,356 per gram for 22 karat gold and at Rs 7,656 per gram for 18 karat gold (also called 999 gold).

That being said, the cheapest gold price is currently 18 carat of 1 gram.

Coming to 10 grams, the gold price was at Rs 1,02,060 in 24 carat, at Rs 93,550 in 22 carat and at Rs 76,550 in 18 carat. These prices are nearing their record high levels.

Silver Rates In India:

1Kg silver price stood at Rs 1,20,000, while 100 grams and 10 grams silver rates are at Rs 12,000 and Rs 1,200 respectively. The 8 gram silver price is at Rs 960 in India, and the cheapest silver is available in 1-gram to Rs 120.

MCX Holiday On August 27:

The mega festival of Ganesh Chaturthi is starting from August 27, 2025, and hence, the market will be closed on the first day of Vinayaka Chavithi with Madhyahna puja.

That being said, commodities market such as gold, silver, copper, zinc, crude oil and other natural gas & metal related instruments will not be available for trading at MCX on Wednesday.

MCX Gold Price + MCX Silver Price

MCX gold price stood at Rs 1,01,070 per 10 gram after market hours of August 26, which recorded surge of Rs 446 or 0.44%.

On the contrary, MCX silver price dropped by Rs 46 or 0.04% to close at Rs 1,15,774 per 1kg. This comes after the precious metal touched its new all-time high of Rs 1,16,729 per 1kg on August 26.

Gold Price Outlook:

As per Riya Singh - Research Analyst, Commodities and Currency , Emkay Global Financial Services, Gold held steady near $3,367 per ounce as markets weighed the outlook for U.S. interest rates following Federal Reserve Chair Jerome Powell's cautious comments at the Jackson Hole symposium. Powell highlighted rising risks in the labor market, opening the door to a potential rate cut in September, though inflation concerns remain.

"Markets now price in an 87% probability of a quarter-point cut next month, with a cumulative easing of 48 basis points expected by year-end. Lower borrowing costs continue to support bullion, while geopolitical tensions and central bank purchases have fueled year-to-date gains of over 25%, primarily in the first four months," the expert added.

Further, the expert highlighted that money managers, however, trimmed bullish positions to a six-week low, reflecting caution amid uncertainty, with long-only positions at 177,561 lots and short-only positions rising to eight-week highs. Silver edged higher as well, trading near $38 per ounce, supported by safe-haven demand amid uncertainty over U.S. interest rates.

Also, money managers modestly increased bullish silver positions by 530 net-long contracts to 28,787, while long-only holdings rose to 44,716 lots and short-only positions fell to 15,929. For Gold, $3,284 remains a strong support with resistance at $3450. Momentum to be contained within this range. Silver is trading in an ascending triangle pattern with bullish bias. Support is at $ 38.30 with resistance at $39.10.

This will also play a role in influencing prices in gold and silver at India.

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.