Gold and Silver Prices Update: August 24, 2024

Gold prices experienced a slight decrease on Saturday. The current rates are as follows:

• 24 carat gold: ₹7,271.0 per gramme, down by ₹178.0.
• 22-carat gold: ₹6,660.2 per gramme, down by ₹164.0.

Over the past week, 24 carat gold prices have decreased by 1.36%, and over the last month, they have fallen by 5.43%.

Silver prices have also seen a decline.

• Silver: ₹84,780.0 per kilogramme, down by ₹210.0.

Regional Gold and Silver Prices

Delhi:

• Gold Price: ₹72,710.0 per 10 grammes (down from ₹73,369.0 on August 23 and up from ₹72,369.0 on August 18).
• Silver Price: ₹84,780.0 per kilogramme (down from ₹85,080.0 on August 23 and up from ₹81,750.0 on August 18).

Chennai:

• Gold Price: ₹72,567.0 per 10 grammes (down from ₹73,440.0 on August 23 and up from ₹71,804.0 on August 18).
• Silver Price: ₹84,700.0 per kilogramme (down from ₹85,000.0 on August 23 and up from ₹81,590.0 on August 18).

Mumbai:

• Gold Price: ₹73,281.0 per 10 grammes (up from ₹73,225.0 on August 23 and up from ₹72,440.0 on August 18).
• Silver Price: ₹84,780.0 per kilogramme (down from ₹85,080.0 on August 23 and up from ₹81,750.0 on August 18).

Kolkata:

• Gold Price: ₹73,138.0 per 10 grammes (down from ₹73,655.0 on August 23 and up from ₹71,945.0 on August 18).
• Silver Price: ₹84,780.0 per kilogramme (down from ₹85,080.0 on August 23 and up from ₹81,750.0 on August 18).

Futures Market

• Gold September 2024 MCX Futures: ₹813.0 per 10 grammes, down by 25.889%.
• Silver November 2024 MCX Futures: ₹-2.0E7 per kilogramme, down by 344,097.248%.

Influencing Factors

The prices of gold and silver are influenced by many elements: global demand, fluctuations in the value of currencies, interest rates, and national regulations concerning gold trading. Moreover, affecting gold prices in the Indian market are global economic conditions and the value of the US dollar against other currencies.

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