Gold and silver prices on August 5
Gold prices in India experienced a gain of ₹20 per gram on Saturday, with 22-carat gold priced at ₹5,515/g as per Goodreturns data. For 8 grams and 10 grams of 22-carat gold, the prices stand at ₹44,120 and ₹55,150, respectively. Similarly, the price of 100 grams of 22-carat gold is ₹5,51,500.
In the 24-carat gold, a similar trend persisted as that of 22-carat gold. The current rate for 24-carat gold stands at ₹6,016 registering a jump of ₹21 from yesterday's price.
Furthermore, the price of silver advanced ₹300 per kg on Saturday, with the value of one kilogram of silver priced at ₹75,100 nationally.
The determination of gold prices in India is influenced by renowned jewellers and is shaped by an interplay of multiple factors. These encompass global gold demand, currency exchange fluctuations, prevalent interest rates, and government policies concerning the precious metal. Additionally, international dynamics like global economic growth and the strength of the US dollar vis-à-vis other currencies also exert substantial influence over gold prices within the country.