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In Mumbai, the price of gold stands at Rs 1,02,600 per 10 grams for 24-carat and Rs 94,050 per 10 grams for 22-carat.
Gold & Silver Prices In India Today, August 28.
Gold, Silver Prices In India Today, August 28: Gold prices on August 28 saw a slight fall, as market participants held back from placing big bets ahead of US economic data that could help shed further light on the US Federal Reserve’s interest rate trajectory. In Mumbai, the price of gold stood at Rs 1,02,600 per 10 grams for 24-carat and Rs 94,050 per 10 grams for 22-carat.
The price of silver stood at Rs 1,20,000 per kg.
In the futures market on the MCX, gold futures (expiring on August 5, 2025) fell marginally by 0.17% to trade at Rs 1,01,371 per 10 grams, whereas silver (expiring on September 5, 2025) was trading upwards by 0.28% to Rs 1,16,423 per kg in the morning trade.
What Is The Price Of 22kt, 24kt Gold Rates Today In India Across Key Cities On August 28?
| City | 22K Gold (per 10gm) | 24K Gold (per 10gm) |
|---|---|---|
| Delhi | Rs 94,200 | Rs 1,02,750 |
| Jaipur | Rs 94,200 | Rs 1,02,750 |
| Ahmedabad | Rs 94,100 | Rs 1,02,650 |
| Patna | Rs 94,100 | Rs 1,02,650 |
| Mumbai | Rs 94,050 | Rs 1,02,600 |
| Hyderabad | Rs 94,050 | Rs 1,02,600 |
| Chennai | Rs 94,050 | Rs 1,02,600 |
| Bengaluru | Rs 94,050 | Rs 1,02,600 |
| Kolkata | Rs 94,050 | Rs 1,02,600 |
International Gold Prices
In the international market, US spot gold held its ground at $3,390.27 per ounce, as of 0257 GMT, after hitting its highest point since August 11 earlier in the session. US gold futures for December delivery were flat at $3,447.40.
Investors are now awaiting the release of the Personal Consumption Expenditures (PCE) Price Index, the preferred inflation measure of the US Federal Reserve, scheduled for Friday.
Economists polled by Reuters expect the PCE price index to rise 2.6% in July, matching the climb from the prior month.
Markets are anticipating an over 88% chance of a 25-basis-point rate cut at the Fed’s policy meeting next month, according to CME FedWatch Tool.
Non-yielding gold typically performs well in a low-interest-rate environment.
New York Fed Bank President John Williams said on Wednesday it is likely interest rates can fall at some point but policymakers will need to see what upcoming data indicate about the economy to decide if it’s appropriate to make a cut next month.
What Factors Affect Gold Prices In India?
International market rates, import duties, taxes, and fluctuations in exchange rates primarily influence gold prices in India. Together, these factors determine the daily gold rates across the country.
In India, gold is deeply cultural and financial. It is a preferred investment option and is key to celebrations, particularly weddings and festivals.
With constantly changing market conditions, investors and traders monitor fluctuations closely. Staying updated is crucial for effectively navigating dynamic trends.
Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to personal finance, markets, economy and companies. Having over a decade of experience in financial journalism, Haris h…Read More
Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to personal finance, markets, economy and companies. Having over a decade of experience in financial journalism, Haris h… Read More
Read More