Gold Rate Today In India: On August 23, gold prices in India remained close to Rs 73,000 per 10 grams. The rate for the highest purity, 24-carat gold, was Rs 72,960 per 10 grams. For those considering jewellery, 22-carat gold, known for its added durability due to a slight alloy mix, was priced at Rs 66,940 per 10 grams.
In contrast, the price of silver was Rs 86,900 per kilogram.
Gold rate today in India: Retail gold price on August 23
Check gold rates today in different cities on August 23, 2024; (In Rs/10 grams)
“Gold and silver experienced profit-taking ahead of the U.S. Fed Chairman’s speech at the Jackson Hole Symposium. Both metals also slipped following better-than-expected U.S. existing home sales data. The dollar index and U.S. bond yields rebounded from their lows on the back of the positive housing data, further pressuring gold and silver prices. However, a rise in U.S. jobless claims and disappointing flash manufacturing PMI data provided support at lower levels. Additionally, easing geopolitical risks and a risk-on sentiment capped the upside potential for gold and silver,” Rahul Kalantri, vice-president of commodities, Mehta Equities Ltd.
Gold has support at $2,470-2,455, with resistance at $2,502-2,518. Silver has support at $28.84-28.62, with resistance at $29.24-29.42. In INR terms, gold has support at Rs 70,910-70,680, with resistance at Rs 71,390-71,550. Silver has support at Rs 82,850-82,180, with resistance at Rs 84,340-84,940, he added.
Retail Cost of Gold in India
The retail price of gold in India, which represents the final cost per unit weight for consumers, is shaped by multiple factors beyond its intrinsic value.
Gold is deeply embedded in Indian culture, acting as a key investment and holding significant importance in traditional weddings and festivals.
As market conditions shift, investors and traders closely watch these trends. Stay tuned for more updates on this developing story.
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