Gold Price Today: Gold Extends Decline, Silver Slips After a Week; Check 24K, 22K and 18K Rates Across Major Cities

Gold and Silver Prices Today: Gold Weakens for the Second Straight Day, Silver Falls After Seven Days of Stability

Gold Price Today: Gold prices in India continued to soften on August 5, extending losses for the second consecutive day after remaining unchanged for two sessions. Silver prices also moved lower, ending a seven-day streak of stability. Market analysts attribute the decline to cautious investor sentiment surrounding the U.S. Federal Reserve's interest rate outlook, while softer industrial demand weighed on silver.

Over the past two trading sessions, the price of 24-carat gold has declined by ₹230 per 10 grams, while 22-carat gold has fallen by ₹210 per 10 grams. On Wednesday alone, both 24K and 22K gold became ₹10 cheaper in Delhi and several other cities.

Meanwhile, silver prices also registered a decline after remaining unchanged for an entire week. A kilogram of silver is now ₹100 cheaper in major Indian markets.

Latest Gold Prices in Major Indian Cities

Below are the latest retail prices of 24-carat, 22-carat, and 18-carat gold (per 10 grams) across ten major cities.

The above prices reflect the prevailing retail rates and may vary slightly depending on local taxes, making charges, and jeweller-specific pricing.

Silver Prices Ease Across Metro Cities

Silver has also witnessed a modest correction after remaining unchanged for the previous seven trading sessions. Before this period of stability, the precious metal had experienced a sharp decline of ₹5,000 per kilogram on July 28.

As of today, silver is priced at ₹2,34,900 per kilogram in Delhi, following a decline of ₹100. Similar prices are being quoted in Mumbai, Kolkata, and Chennai, indicating a broadly uniform trend across the country's largest metropolitan markets.

Why Are Gold and Silver Prices Falling?

According to market experts, global investors are adopting a cautious approach as they await fresh signals from the U.S. Federal Reserve regarding future monetary policy.

Concerns over inflation in the United States have kept markets on edge, with traders now focusing on key economic indicators expected later this week. Among the most closely watched reports are the U.S. Non-Farm Payrolls (NFP) data and other labour market indicators, which could influence expectations about future interest rate decisions.

When expectations for higher interest rates strengthen, gold often comes under pressure because it does not generate interest income. A stronger U.S. dollar can also reduce the appeal of gold for international investors.

Silver, on the other hand, faces additional pressure from slowing industrial demand, as the metal is widely used in manufacturing, electronics, and renewable energy sectors.

Factors That Could Influence Prices This Week

Analysts believe the direction of gold and silver prices during the coming days will depend on several global developments, including:

• U.S. employment data and Non-Farm Payrolls report

• Future guidance from the U.S. Federal Reserve

• Movement in the U.S. dollar index

• Crude oil price fluctuations

• Global inflation trends and investor sentiment

These factors will play an important role in determining whether precious metals continue to decline or recover from current levels.

Domestic Demand Remains Mixed

While physical demand for gold in India has softened in recent weeks, consumer spending on the precious metal remains historically strong. Seasonal buying, wedding demand, and long-term investment interest continue to support the market despite short-term price fluctuations.

Experts advise buyers planning large purchases to monitor global economic developments and compare prices across jewellers before making a decision.

Disclaimer: Precious metal prices are subject to change multiple times during the day depending on domestic and international market conditions. The information provided here is for general informational purposes only and should not be considered investment advice. Investors should consult a qualified financial advisor before making any investment or purchase decisions.