Gold prices rise on August 17, check 24K and 22K rates

Gold prices gained in the Indian retail market on Monday, August 17, with 24-karat gold (99.9% purity) quoted at Rs 15,566 per gram, according to timesnownews.com. The site reported 22-karat gold at Rs 14,270 per gram and 18-karat at Rs 11,676 per gram. It said MCX gold futures opened 0.44 per cent higher at Rs 1.56 lakh per 10 grams, continuing a broader upward trend since early August after a brief profit-booking correction.

Livemint attributed the rise to ongoing geopolitical tensions, citing the US-Iran conflict in the Middle East and concerns over US strategic oil reserves. It reported MCX gold trading 0.23 per cent higher at Rs 1,55,170 per 10 grams and silver futures up 0.57 per cent at Rs 2,38,620 per kg. The two outlets gave differing per-10-gram rates for the same city: Livemint put Delhi's 24K gold at Rs 1,54,620, while timesnownews listed Delhi's 24K rate at Rs 15,581 per gram (equivalent to Rs 1,55,810 per 10 grams). Chennai rates also diverged: Livemint reported Rs 1,55,550 per 10 grams for 24K, whereas timesnownews showed Rs 15,566 per gram (Rs 1,55,660 per 10 grams).