Gold rates in India have continued to crash relentlessly over the past few days. From August 9th to August 20th, the price of 100 grams of gold in 24 carats has nosedived by a whopping Rs 31,600. On August 21, investors are likely to adopt a cautious tone in precious metals as they await US Federal Reserve Chairman Jerome Powell’s speech at the Jackson Hole conference.
At the time of writing, MCX gold and silver prices traded on a mixed note. MCX gold was down, while silver gained.
Gold Rates In India:
10 grams gold prices stood at Rs 1,00,150 in 24 carat and at Rs 91,800 in 22 carat as of August 20, 2025. This precious metal is struggling to hold Rs 1 lakh mark.
Also, 100 grams gold price stood at Rs 10,01,500 in 24 carat and Rs 9,18,900 in 22 carat.
In 18 carat, 10 grams and 100 grams gold prices were at Rs 75,110 and Rs 7,51,100 respectively.
The cheapest price of gold in India is currently at Rs 10,014 per gram for 24 karat gold, at Rs 9,179 per gram for 22 karat gold and at Rs 7,510 per gram for 18 karat gold (also called 999 gold).
Gold Prices Performance In 11 Days:
On August 20th, 100 grams gold price crashed by a whopping Rs 6,000 in 24 carat. This comes after 100 grams gold in 24 carat dropped by Rs 4,300 on August 19, after prices were unchanged on August 18 and August 17. However, 100 grams gold price plunged by Rs 600 on August 16, followed by a decline of Rs 1,100 on August 15. Gold was unchanged again on August 14.
Not just that, 100 grams gold price dipped by Rs 500 on August 13, while crashing by Rs 8,800 on August 12 and by Rs 7,600 on August 11. Prior to this, 100 grams gold price was unchanged on August 10, but tumbled by Rs 2,700 on August 9.
Cumulatively, from August 9th to August 20th, gold price plummeted by Rs 31,600 in 100 grams of 24 carat.
Gold Prices In Your City:
Gold Rates In Chennai:
Gold Rates In Bangalore:
Gold Rates In Hyderabad:
Gold Rates In Mumbai:
Gold Rates In Delhi:
MCX Gold Price + MCX Silver Price
At the time of writing, on August 21, MCX gold price with October 2025 expiry, traded at Rs 99,064 per 10 grams, down by Rs 240 or 0.24%.
On the contrary, MCX silver with September 2025 expiry, performed at Rs 1,12,713 per 1kg, higher by Rs 160 or 0.14%.
Gold & Silver Prices Outlook Ahead:
According to Jateen Trivedi, VP Research Analyst – Commodity and Currency, LKP Securities, gold traded flat as participants remained cautious ahead of Jerome Powell’s Jackson Hole speech on Friday.
“The focus is on signals regarding the timing and magnitude of potential interest rate cuts, especially after the recent U.S. Non-Farm Payrolls data showed a notable slowdown, increasing pressure on the Fed to act. The metal has strong support around Rs 98,000, while resistance is placed near Rs 1,01,500, and traders are likely to maintain a wait-and-watch approach until Powell’s comments provide further clarity on monetary policy direction,” he added.
Meanwhile, Rahul Kalantri, VP Commodities, Mehta Equities said, “Gold and silver show high volatility and rebounded from early losses on short covering, with traders eyeing Fed Chair Powell’s remarks at Jackson Hole later this week. A sell-off in U.S. equities also lent support to precious metals. Meanwhile, FOMC minutes signalled caution on policy easing, citing inflationary risks and weaker labour conditions amid U.S. trade tariffs. Some members, however, favoured a September rate cut.”
Powell’s speech is expected to provide key directions for precious metals market.
That being said, Kalantri added, “Gold has support at $3315-3290 while resistance at $3357-3374. Silver has support at $37.55-37.35 while resistance is at $38.10-38.30. In INR gold has support at Rs99,050-98,750 while resistance at Rs99,650-99,950. Silver has support at Rs1,11,780-1,11,050 while resistance at Rs1,13,450, 1,13,950.”
Should You BUY/SELL Gold Or Silver?
According to technical report dated August 21 by Nirmal Bang, gold prices are expected to pullback. One can buy at 99000 with a stop loss of 98700 for the target at 9940099800. Traders can also sell from 100000 maintaining a stop loss of 100300.
On silver, analysts at Nirmal said, “Silver prices are expected to pullback. One can buy at 112000 with a stop loss of 111200 for the target 113000-113500. Traders can sell from 113500 maintaining a stop loss of 114500.”
Spot Gold Price + Spot Silver Prices:
Spot Gold prices held steady around $3,340 per ounce on Thursday as investors positioned themselves ahead of the three-day Federal Reserve’s Jackson Hole symposium that begins later on Friday. Spot silver traded around $37.8 per ounce, consolidating after an over 1% rally in the previous session, as per Trading Economics data.