Gold, Silver Rates Today on August 7: Check 24K, 22K Gold and Silver Prices in Major Indian Cities
Synopsis
On August 7, precious metal prices in India remained firm amid global economic uncertainty, reflecting strong demand for safe-haven assets. Gold and silver traded at elevated levels across major cities. In these markets, 24K gold was priced above Rs 1.48 lakh per 10 grams, and silver exceeded Rs 2.25 lakh per kilogram.
Precious metal prices remained firm across India on August 7, with both gold and silver continuing to trade at elevated levels amid persistent global economic uncertainty. While investors monitored international bullion prices, currency movements and central bank policy expectations, domestic retail prices reflected steady demand for safe-haven assets.
Gold prices continued to hover above Rs 1.48 lakh per 10 grams for 24K purity in major cities. The trend was similar for 22K gold, which is widely used for jewellery purchases across India. Prices remained above Rs 1.36 lakh per 10 grams in all six metros.
Silver prices also remained strong, with 999 Fine silver trading above Rs 2.25 lakh per kilogram across all key metros.
Gold & Silver Prices on August 7
Domestic bullion prices are influenced by several factors, including international spot prices, the rupee-dollar exchange rate, import duties, GST and local demand. Since transportation costs and local taxes vary, retail prices may differ slightly from one city to another.
Market experts believe precious metals could remain volatile in the coming sessions as investors await fresh global economic data and monitor geopolitical developments. Those planning to invest in bullion or purchase jewellery should compare city-wise rates and factor in additional charges such as making charges before finalising their purchase.
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