Gold prices in India fell on Friday, August 22, bolstering a mood of joy among traders and consumers as the metal experienced pressure from a firming U.S. dollar, declining safe-haven interest, and prevailing global uncertainties.
On the international market, spot gold fell to about $3,328 per ounce on Friday, remaining rangebound as traders anticipated Powell’s Jackson Hole call for policy cues amid geopolitical tensions triggered by the Russia-Ukraine war.
Gold Rates & Silver Rates In India Today
A gram of 24 carat gold costs Rs 10,053 in India today, while a gram of 22 carat gold costs Rs 9,215 and an 18 carat gold weighs Rs 7,540. In India, 24k for 10 grams of gold fell to Rs 1,00,530 today from Rs 1,00,750 yesterday, a 220 rupee price difference. Similarly, 24k for 100 gms of gold would cost Rs 10,05,300 on Friday, down 2200 rupees from Rs 10,07,500 on Thursday.
Today 22k per 10 grams of gold dropped to Rs 92,150 compared to Rs 92,300 yesterday, representing a price drop of Rs 150 similarly 22k per 100 grams of gold rates dropped to Rs 9,21,500 in India on Friday, which was Rs 9,23,000 on Thursday, representing a price drop of Rs 1,500 overnight.
In India, the price of 18k of 10 grams of gold fell to Rs 75,400 on Friday from Rs 75,520 yesterday, a drop of Rs 120. Similarly, the price of 18k of 100 gms of gold will be Rs 7,54,000 today, down from Rs 7,55,200 on Thursday, a drop of Rs 1,200.
The price of silver in India today is Rs 118 per gram and Rs 1,18,000 per kilogram, which was Rs 116 and Rs 1,16,000 yesterday.
MCX Gold Outlook Today
“On the technical front, MCX gold has seen a notable correction in recent sessions. However, in the last two sessions, it has found good support near the 50-day EMA line. The immediate and broader trends remain neutral with no clear direction, with support placed at 98,600 and resistance seen at 99,600,” commented Abhishek M Pelu- Research Analyst at Way2Wealth Brokers Pvt. Ltd.
Gold & Silver Price Fundamental Outlook Today
“Gold and silver prices are trading mix today on the international bourses. We expect precious metals prices on Indian bourses to trade range bound to slightly higher for the day; as gold prices held a gain after President Donald Trump’s call for a Federal Reserve governor to quit raised fresh concerns about the central bank’s independence, bolstering haven demand,” commented the research analysts of Nirmal Bang Securities.