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Gold And Silver Prices Today, August 29: In Mumbai, the price of gold stood at Rs 1,02,610 per 10 grams for 24-carat and Rs 94,060 per 10 grams for 22-carat.
Gold Prices Today, August 29.
Gold, Silver Prices In India Today, August 29: Gold prices on August 29 saw an appreciation, supported by an overall softer dollar and increased expectations for a US Federal Reserve interest rate cut in September. In Mumbai, the price of gold stood at Rs 1,02,610 per 10 grams for 24-carat and Rs 94,060 per 10 grams for 22-carat.
The price of silver stood at Rs 1,19,900 per kg.
In the futures market on the MCX, gold futures (expiring on August 5, 2025) rose marginally by 0.03% to trade at Rs 1,02,125 per 10 grams, whereas silver (expiring on September 5, 2025) was trading down by 0.20% to Rs 1,16,935 per kg in the morning trade.
What Is The Price Of 22kt, 24kt Gold Rates Today In India Across Key Cities On August 29?
| City | 22K Gold (per 10gm) | 24K Gold (per 10gm) |
|---|---|---|
| Delhi | Rs 94,210 | Rs 1,02,760 |
| Jaipur | Rs 94,210 | Rs 1,02,760 |
| Ahmedabad | Rs 94,110 | Rs 1,02,660 |
| Patna | Rs 94,110 | Rs 1,02,660 |
| Mumbai | Rs 94,060 | Rs 1,02,610 |
| Hyderabad | Rs 94,060 | Rs 1,02,610 |
| Chennai | Rs 94,060 | Rs 1,02,610 |
| Bengaluru | Rs 94,060 | Rs 1,02,610 |
| Kolkata | Rs 94,060 | Rs 1,02,610 |
International Gold Prices
In the international market, US spot gold was little changed at $3,412.56 per ounce, as of 0223 GMT. Bullion has gained 3.9% so far this month and hit its highest point of $3,423.16 since July 23 on Thursday. US gold futures for December delivery were flat at $3,473.70.
The dollar weakened 0.4% overnight, and was set for a monthly drop, making the greenback-priced gold less expensive for holders of other currencies.
Fed Governor Christopher Waller on Thursday stepped up his call for cutting short-term U.S. borrowing costs, saying he would support an interest-rate cut next month and further reductions over the next three to six months.
Traders say there is an 86% 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.
Investors are now awaiting the release of the Personal Consumption Expenditures (PCE) Price Index in the US, Fed’s preferred inflation measure, due later in the day, for further cues on the Fed’s interest rate trajectory.
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