Gold Rate Falls In India: Check 22 Carat Price In Your City On August 08

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Gold Rate Today In India: On August 08, gold prices in India hovered near Rs 70,000 per 10 grams. This rate includes a premium for the highest purity gold, with 24-carat gold priced at Rs 69,260 per 10 grams. For those interested in jewellery, 22-carat gold, which is more durable due to its slight alloy mix, was priced at Rs 63,490 per 10 grams.

Meanwhile, silver’s price stood at Rs 81,900 per kilogram.

Gold rate today in India: Retail gold price on August 08

Check gold rates today in different cities on August 08, 2024; (In Rs/10 grams)

City 22 Carat Gold Rate Today 24 Carat Gold Rate Today
Delhi 63,640 69,410
Mumbai 63,490 69,260
Ahmedabad 63,540 69,310
Chennai 63,290 69,050
Kolkata 63,490 69,260
Gurugram 63,640 69,410
Lucknow 63,640 69,410
Bengaluru 63,490 69,260
Jaipur 63,640 69,410
Patna 63,540 69,310
Bhubaneshwar 63,490 69,260
Hyderabad 63,490 69,260

Retail Cost of Gold in India

The retail price of gold in India, reflecting the final cost per unit weight for consumers, is influenced by various factors beyond the metal’s intrinsic value.

Gold holds immense cultural importance in India, serving as a major investment and playing a crucial role in traditional weddings and festivals.

Amid ongoing market fluctuations, investors and traders closely monitor these dynamics. Stay tuned for further updates on this evolving story.

Custom Duty on Gold

The government recently slashed customs duties on various products, including gold and silver.

The basic customs duty (BCD) on coins of precious metals, gold/silver findings, and gold and silver bars was reduced to 6 per cent from 15 per cent. It was cut to 5.35 per cent from 14.35 per cent for gold and silver dore.

India’s reliance on imported gold largely influences domestic prices, which closely mirror global trends. Additionally, the cultural importance of gold in India, particularly during festivals and weddings, can impact demand levels.

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