Gold and silver prices: The price of the yellow metal in India's retail market rose on Friday, 7 August, amid hopes of peace in the Middle East.
In the international markets, gold prices registered their biggest weekly gain since January, helped by weaker oil prices, while investors awaited key US nonfarm payrolls data for clues on the interest rate outlook.
Spot gold was up 0.4% at $4,254.11 per ounce, after hitting a seven-week high in the previous session. Prices were up over 5% for the week. US gold futures gained 0.3% to $4,312.00, according to a CNBC US report.
Due to these developments, both 24-karat and 22-karat gold rates are showing a marginal increase across major cities in India. Silver prices also rose in the domestic bullion market.
MCX gold rate on 7 August was trading 0.26% higher at ₹149,490 per 10 grams. MCX silver futures, on the other hand, were trading about 0.90% higher at ₹228,660 per kg at around 9:13 am.
In the retail market, gold is sold in 24-karat and 22-karat purity. While 24-karat gold is considered the purest form, 22-karat gold is commonly used for jewellery because it's more durable.
Here's a look at the latest gold prices across major Indian cities on 7 August.
24 karat gold rate in New Delhi — ₹149,020/10 gm
22 karat gold rate in New Delhi — ₹136,602/10 gm
Silver 999 Fine rate in New Delhi — ₹227,970/1 kg
Silver 999 Fine rate in Mumbai — ₹228,370/1 kg
24 karat gold rate in Bengaluru — ₹149,400/10 gm
22 karat gold rate in Bengaluru — ₹136, 950/10 gm
Silver 999 Fine rate in Bengaluru — ₹228,550/1 kg
24 karat gold rate in Kolkata — ₹149,080/10 gm