On Rakshabandhan, August 31, gold prices in India remained unchanged in most cities in the spot market. In Delhi, 22-carat gold stood at Rs 55,150 per 10 grams, while 24-carat gold was at Rs 60,150 per 10 grams. Silver price was also flat at Rs 77,600 per kg.
In Mumbai, 22-carat and 24-carat gold prices were Rs 55,150 per 10 grams and Rs 60,150 per 10 grams. In Chennai, gold prices stood at Rs 55,300 and Rs 60,330 per 10 grams for 22-carat and 24-carat, respectively. In Kolkata, the gold prices stood at Rs 55,150 per 10 grams and Rs 60,150 per 10 grams, respectively.
In Agra, gold prices were at Rs 55,150 and Rs 60,150 for 22-carat and 24-carats. In Patna, the gold price was at Rs 55,050 for 22-carat and Rs 60,050 for 24-carat. In Thiruvananthapuram, gold prices were at Rs 55,150 per 10 grams and Rs 60,150 per 10 grams.
In the futures trading, the gold prices stood at Rs 59,466 per 10 grams and silver was at Rs 76,050 per 10 grams on the MCX.
In the interational market, gold was higher at $1,946.2 an ounce and silver stood at $24.66 an ounce.
Rahul Kalantri, vice-president (commodities) of Mehta Equities Ltd, said, “Gold reached a three-week high due to disappointing US economic data, accompanied by silver touching a four-week peak in early trading. The dollar’s weakening, along with US 10-year bond yields slipping below 3.15 per cent, acted as catalysts, enhancing the appeal of precious metals.”
He added that anticipating a volatile session, gold finds support around $1934-1922 and resistance near $1958-1970. In rupee terms, gold’s support lies at Rs 59,200 and Rs 58,950, with resistance at Rs 59,650 and Rs 59,810. Silver tracks a similar pattern, with support at $24.45-24.28 and Rs 73,910-73,250, and resistance around $24.82-25.00 and Rs 75,440–76,040.
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