Gold and Silver Rates Today, August 7: Gold and silver prices moved with a slightly upbeat tilt on Friday, August 7 as investors stayed glued to global bullion markets before the big, closely watched US non farm payrolls (NFP) report. A firmer safe haven appetite and a cooling in crude oil prices and shifting expectations around US interest rates backed precious metals in both local and international arenas.
MCX Gold and Silver Update
Gold futures (October 5) opened 0.36 per cent or Rs 536 higher at Rs 1,49,029 per 10 grams and later touched an intraday high of Rs 1,49,700, an increase of 0.81 per cent or Rs 1,207 by 12:10 pm. Meanwhile, silver futures (September 4) prices have witnessed buying momentum in early deals. According to the news agency IANS report, the white metal touched an intraday high of Rs 2,28,397 per kg, an increase of 0.35 per cent or Rs 813 compared to the previous close of Rs 2,27,584. At the last count, it was trading at Rs 2,26,580, a decrease of 0.44 per cent or Rs 1,004.
In the international market too, COMEX gold was trading 0.36 per cent higher at $4,320 per ounce. COMEX silver was at $62.36 per ounce, up 0.12 per cent.
Gold, Silver Rates Today (August 6): Latest City-Wise Gold Prices and MCX Updates
Gold and Silver Rates Today, August 7
Indicative retail prices across India are:
- 24 Carat Gold: ₹1.45 lakh
- 22 Carat Gold: ₹1.33–1.34 lakh
- 18 Carat Gold: ₹1.09 lakh
Silver Rate Today
Silver prices also remained firm:
- Silver (1 kg): Around ₹1.90 lakh–₹1.92 lakh, depending on the city.
Gold Prices in Major Cities
New Delhi
- 24K Gold: ₹14,987/g
- 22K Gold: ₹13,741/g
- 18K Gold: ₹11,246/g
Mumbai
- 24K Gold: ₹14,974/g
- 22K Gold: ₹13,726/g
- 18K Gold: ₹11,231/g
Chennai
- 24K Gold: ₹15,001/g
- 22K Gold: ₹13,751/g
- 18K Gold: ₹11,566/g
- 24K Gold: ₹14,974/g
- 22K Gold: ₹13,726/g
- 18K Gold: ₹11,231/g
Market Outlook
Experts think gold and silver could stay jumpy all through the trading session as world markets adjust to US macroeconomic signals. If the jobs report comes in softer than expected that might add some extra backing for bullion prices. But if the data turns out stronger then upside could get capped fast.
