Gold Rate In India PEAKED; Big Jump By Rs 2,43,330 In 24K/100 Grams YTD; Gold Outlook For August 7

Gold rates in India continued to rise to new record highs on August 6th. The major driving factor is the RBI's status quo in the policy repo rate at 5.5%, with expectations of a rate cut in the October policy, which will be a major boost to the festive season. Gold demand is high in festivals. However, at MCX, gold and silver futures declined gradually, tracking the volatile international spot gold prices.

Trade tensions between the US and India could sway sentiments in the gold prices of India. So far, in 2025, gold prices have recorded a significant bullish trend.

Gold Prices In India:

10 grams of gold prices stood at Rs 1,02,330 in 24 carat and at Rs 93,800 in 22 carat. While 18-carat gold price is at Rs 76,750 per 10 grams.

Moreover, 100 grams of gold prices stood at Rs 10,23,300 in 24 carat, at Rs 9,38,000 in 22 carat, and at Rs 7,67,500 in 18 carat.

With that, gold prices are at their all-time high levels. In the start of the year, on January 1, 24-carat gold prices stood at Rs 78,000 per 10 grams and at Rs 7,80,000 per 100 grams.

Hence, year-to-date, 100 grams and 10 grams of gold prices surged by a breathtaking Rs 2,43,330 and Rs 24,330 in 24 carat.

Overall, in August 2025 so far, gold prices are up by 2.5%.

Check Gold Prices In Major Cities:

Gold Rates In Chennai:

The price of the cheapest gold in Chennai is at Rs 10,233 per gram for 24 karat gold, at Rs 9,380 per gram for 22 karat gold and at Rs 7,750 per gram for 18 karat gold (also called 999 gold).

Gold Rates In Delhi:

The price of gold in Delhi is at Rs 10,248 per gram for 24 karat gold, at Rs 9,395 per gram for 22 karat gold and at Rs 7,687 per gram for 18 karat gold (also called 999 gold).

Silver Prices In India:

Silver rates have also witnessed near-record high performance. 1Kg silver is priced at Rs 1,16,000, recording an upside of Rs 1,000 on August 6th alone. 100 grams and 10 grams of silver are available at Rs 11,600 and at Rs 928.

Silver Rates In Major Cities:

Silver Prices In Delhi: Silver Prices In Mumbai: Silver Prices In Bangalore

1Kg silver price is at Rs 1,16,000 currently in these three major metro cities.

Silver Prices In Chennai: Silver Prices In Kerala: Silver Prices In Hyderabad:

However, silver prices in these three southern cities are much higher at Rs 1,26,000 per 1kg.

MCX Gold Price + MCX Silver Price

Unlike the gold rates in retail stores of India, at MCX, the gold futures of October 2025 expiry, dipped to hit an intraday low of Rs 1,00,660 per 10 grams. The bullion closed at Rs 1,01,250, marginally down by Rs 12.

However, MCX silver futures traded cautiously and ranged between Rs 1,12,826 to Rs 1,38,888 per 1kg on August 6th. This precious metal closed at Rs 1,13,671 per 1kg, up by Rs 16.

Talking about the performance, Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities said, "Gold prices were weak as price fell 500rs at 100800 as Comex Gold saw weak cues below 3360$ with dollar index showed positive rally in last few days Gold price seem to be technically exhausted near 101000 and 3400$."

Gold Prices Outlook On August 7:

According to Trivedi, rupee weakness is what holds Gold price in domestic market. Gold range can be seen between 98500-102000.

Furthermore, Aksha Kamboj, VP, India Bullion & Jewellers Association (IBJA) and Executive Chairperson, Aspect Global Ventures said, "investors are keeping a close eye on signs from the US Federal Reserve and international inflation figures, which are expected to shape additional action in gold prices. Domestic festive demand and expectations of the wedding season can also provide some support upwards in India."

For long term investors, Kamboj added, gold is an effective hedge against currency decline and inflation. Staggered buying at these higher levels could be the wisest strategy, especially through digital gold or sovereign gold bonds, with an added benefit.

Overall, the prognosis is modestly bullish with scope for additional upside in the medium term, particularly if global uncertainty continues to stimulate demand for safer investment vehicles, the expert said.

Silver Prices Outlook On August 7:

For silver, Kamboj said, silver is perceived in India as a cheaper substitute for gold, which provides portfolio diversification. Investor sentiment continues to be stable, particularly during festival seasons. Silver is, however, more liquid than gold and thus risk appetite must be taken into consideration. In the medium term, silver continues to have strong growth prospects. A balanced approach like systematic investment in silver ETFs or physical silver is recommended for long-term wealth generation.

Spot Gold Price:

Gold edged lower to around $3,370 per ounce on Wednesday but remained near a two-week high, as growing expectations of a more dovish monetary policy continued to support the appeal of the non-interest-bearing metal, as per Trading Economics.

Disclaimer: The recommendations made above are by market analysts and are not advised by either the author, nor Greynium Information Technologies. The author, nor the brokerage firm nor Greynium would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.