Noida, Aug 4 (APAC Media): Gold prices in India’s retail market edged higher on Tuesday, 4 August, as renewed optimism over a possible peace agreement between the United States and Iran boosted investor sentiment and supported demand for the safe-haven metal.
The precious metal continued to trade at elevated levels, supported by safe-haven demand and uncertainty in global markets.
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Gold rates differed marginally across major Indian cities due to variations in local taxes, transportation expenses, demand conditions and jeweller charges. Consumers were advised to check updated prices with local jewellery outlets before making purchases.
Investors are closely monitoring key US labour market indicators scheduled for release this week, including job openings data, the ADP employment report and nonfarm payroll figures.
The outcome of these reports could influence global bullion markets, with gold and silver prices likely to react to changes in interest rate outlook and US dollar movements.
The price of 24-carat gold, considered the purest form of the metal, remained around the higher range, while 22-carat gold, which is widely preferred for jewellery manufacturing, traded slightly lower.
City-wise Gold & Silver Prices (04 Aug)
| City | 24K Gold (₹/10g) | 22K Gold (₹/10g) | Silver 999 (₹/kg) |
|---|---|---|---|
| New Delhi | 143,722 | 131,994 | 218,182 |
| Mumbai | 143,264 | 131,231 | 218,571 |
| Bengaluru | 143,973 | 131,322 | 218,102 |
| Kolkata | 143,782 | 131,041 | 218,292 |
| Hyderabad | 143,196 | 131,426 | 218,912 |
| Chennai | 143,386 | 131,597 | 218,202 |
The 18-carat gold segment, mainly used for lightweight and designer jewellery, continued to trade below 22K and 24K gold due to its lower purity level.
Silver prices also remained in focus, with the metal witnessing movement amid changing industrial demand, global commodity trends and investor activity.
Qatar’s Foreign Ministry spokesperson Majed al-Ansari said Israel’s recent attacks on Gaza, which resulted in the deaths of more than 30 people, represented an escalation aimed at obstructing the implementation of a peace plan.
Al-Ansari said the international community could identify the party responsible for delaying the agreement, adding that Israel bore full responsibility for preventing its implementation.
Addressing Israel’s presence in Gaza, the Qatari official said Israel should withdraw from all occupied territories in accordance with international law. He added that the occupation could not be justified by security concerns, whether current or historical.
Market participants said gold prices are likely to remain sensitive to global economic indicators, including US dollar movement, inflation data, central bank policies and geopolitical developments. Any changes in interest rate expectations could influence investor sentiment towards bullion.
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India, one of the world’s largest gold consumers, witnesses strong demand for the metal during festivals, weddings and investment cycles.
Analysts expect volatility in gold prices to continue as traders monitor international market signals.
Gold and silver rates are updated frequently during market hours and may vary across cities and jewellery stores depending on purity, taxes and other charges.
–ENDS–
Disclaimer: 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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