Noida, Aug 31 (APAC Media): Gold and silver prices declined in the domestic market on Monday, tracking weakness in global bullion prices as investors assessed geopolitical developments and the outlook for US interest rates.
According to market data, 24-carat gold was trading at around ₹154,940 per 10 grams, down 1.22 per cent, at about 9:10 am. Silver of 999 purity fell 1.37 per cent to nearly ₹238,870 per kg.
On the Multi Commodity Exchange (MCX), gold futures were down about 1.14 per cent at ₹154,496 per 10 grams, while silver futures declined 1.28 per cent to ₹239,341 per kg during the same period.
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Retail prices varied across major Indian cities.
In New Delhi, 24-carat gold was quoted at ₹154,350 per 10 grams and 22-carat gold at ₹141,488. Silver stood at ₹238,180 per kg.
In Mumbai, 24-carat and 22-carat gold were priced at ₹154,610 and ₹141,726 per 10 grams, respectively, while silver was quoted at ₹238,590 per kg.
In Kolkata, 24-carat gold stood at ₹154,350 per 10 grams and 22-carat gold at ₹141,488, while silver was priced at ₹238,610 per kg.
Chennai recorded one of the higher retail gold rates, with 24-carat gold at ₹155,010 per 10 grams and 22-carat gold at ₹142,093. Silver was quoted at ₹239,620 per kg.
City-wise Gold & Silver Prices (31 Aug)
| City | 24K Gold (₹/10g) | 22K Gold (₹/10g) | Silver 999 (₹/kg) |
|---|---|---|---|
| Delhi | ₹1,54,350 | ₹1,41,488 | ₹2,38,180 |
| Mumbai | ₹1,54,610 | ₹1,41,726 | ₹2,38,590 |
| Bengaluru | ₹1,54,680 | ₹1,41,790 | ₹2,39,110 |
| Kolkata | ₹1,54,350 | ₹1,41,488 | ₹2,38,610 |
| Hyderabad | ₹1,54,800 | ₹1,41,900 | ₹2,39,300 |
| Chennai | ₹1,55,010 | ₹1,42,093 | ₹2,39,620 |
The fall in domestic prices came amid weakness in international bullion markets. Spot gold was around $4,455.29 an ounce, while US gold futures for December delivery were trading about 0.6 per cent lower at $4,504.90. Spot silver was quoted at around $66.34 an ounce.
Market sentiment remained sensitive to geopolitical developments and expectations surrounding US monetary policy. Changes in interest-rate expectations can influence demand for gold, which does not generate interest income.
Analysts and investors are also closely watching currency movements and global economic indicators for further direction in precious-metal prices.
Retail jewellery prices may differ from quoted bullion rates because of making charges, taxes and other applicable costs.
–ENDS–
Disclaimer:Â Gold and Silver prices are for informational purposes only. APAC Media is not liable for any discrepancies or financial decisions made based on this data. Please consult an authorised advisor before making investment choices.
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