Now Reading: Gold, silver rates rise across Indian cities on 7 August
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Gold, silver rates rise across Indian cities on 7 August
Retail gold prices rose across major Indian cities on 7 August, while silver also gained. MCX gold was up 0.26% at Rs 1,49,490 per 10 grams, and silver futures climbed 0.90% to…
The Story in Brief
Retail gold prices rose across major Indian cities on 7 August, while silver also gained. MCX gold was up 0.26% at Rs 1,49,490 per 10 grams, and silver futures climbed 0.90% to Rs 2,28,660 per kg at around 9.13 am.
In New Delhi, 24-karat gold was priced at Rs 1,49,020 per 10 grams and 22-karat gold at Rs 1,36,602. Mumbai rates were Rs 1,49,280 and Rs 1,36,840 respectively. Chennai recorded the highest 24-karat rate among the listed cities at Rs 1,49,710. International gold prices rose as investors awaited US jobs data and watched developments in the Middle East.
The Indian Opinion
Claims that every gold rise signals an immediate crisis are as weak as assurances that prices can only move higher. The day’s gains came alongside international market factors and pending US employment data, while city rates varied by purity and location. Buyers should compare the final jewellery bill, including taxes and making charges, rather than treat quoted bullion rates as their purchase price. The next useful test is whether MCX gold holds above Rs 1,49,000 per 10 grams.
Source: livemint.com
This story was synthesised by AI from the source linked above.
