Gold Prices and Silver Prices on August 19, 2024: Latest Updates Across Major Indian Cities

Gold Prices and Silver Prices on August 19, 2024: As of August 19, 2024, gold prices in India have seen a decrease, while silver prices remained stable. This article provides a comprehensive overview of gold and silver prices in key cities, along with an analysis of recent market trends. Understanding these changes is crucial for investors and buyers who keep a close eye on the precious metals market.

Gold Prices Today: A Closer Look at Major Indian Cities

Gold Rate in Delhi

• 24 Carat Gold: ₹72,016.0 per 10 grams
• Price Movement: Down by ₹353.0 from the previous day.

In Delhi, the price of 24-carat gold decreased, reflecting a broader trend across the country. Yesterday’s rate was ₹71,734.0 per 10 grams, indicating a slight dip. Last week on August 13, 2024, the rate was ₹71,218.0, showing a moderate increase over the week before the current decline.

Gold Rate in Chennai

• 24 Carat Gold: ₹72,652.0 per 10 grams
• Price Movement: Slightly down from ₹71,804.0 per 10 grams yesterday.

Chennai saw a similar trend with a slight dip from yesterday’s price. On August 13, 2024, the rate was ₹71,637.0 per 10 grams, marking a small increase over the week before today’s decline.

Gold Rate in Mumbai

• 24 Carat Gold: ₹72,863.0 per 10 grams
• Price Movement: A decrease from ₹72,228.0 per 10 grams yesterday.

Mumbai’s gold prices have also dipped, although the city saw a notable increase last week. On August 13, 2024, the rate was ₹71,078.0 per 10 grams, indicating a significant rise before today’s minor drop.

Gold Rate in Kolkata

• 24 Carat Gold: ₹72,722.0 per 10 grams
• Price Movement: Down from ₹72,016.0 per 10 grams yesterday.

In Kolkata, the price decrease follows a week of fluctuations. On August 13, 2024, the price was ₹71,987.0 per 10 grams, showing a slight increase over the week before the current dip.

Silver Prices Today: Stability Across the Board

Silver Rate in Delhi

• Price: ₹81,750.0 per kg
• Price Movement: No change from the previous day.

Silver prices in Delhi have remained stable today, holding steady from yesterday’s rate of ₹81,670.0 per kg. Last week on August 13, 2024, the price was ₹81,290.0 per kg, reflecting a gradual increase over the week.

Silver Rate in Chennai

• Price: ₹81,670.0 per kg
• Price Movement: No change from the previous day.

Chennai also saw no change in silver prices, maintaining yesterday’s rate. Last week’s price on August 13, 2024, was ₹81,370.0 per kg, showing a slight increase over the week before stabilizing today.

Silver Rate in Mumbai

• Price: ₹81,750.0 per kg
• Price Movement: Stable compared to yesterday’s price.

Mumbai’s silver prices have remained stable at ₹81,750.0 per kg, similar to Delhi. Last week’s price on August 13, 2024, was ₹81,290.0 per kg, indicating a small rise before today’s stabilization.

Silver Rate in Kolkata

• Price: ₹81,750.0 per kg
• Price Movement: No change from the previous day.

Kolkata, like other major cities, saw stability in silver prices. The price remains the same as yesterday, following a gradual increase last week.

MCX Futures: Current Trends in Gold and Silver

The Multi Commodity Exchange (MCX) of India also reflects the market’s current trends:

• Gold December 2024 MCX Futures: Trading at ₹72,030.0 per 10 grams, up by ₹0.343.
• Silver August 2024 MCX Futures: Trading at ₹4,953.5 per kg, up by ₹14.558.

These minor increases indicate cautious optimism among traders, balancing the recent declines in gold prices with the steady performance of silver.

Factors Influencing Gold and Silver Prices

Gold and silver prices are influenced by various factors, including global demand, currency fluctuations, interest rates, and government policies. Internationally, the strength of the U.S. dollar against other currencies and the global economic outlook play significant roles. Additionally, input from major jewelers in India also affects local prices.