Gold and silver prices moved in opposite directions on Monday, August 10, as investors tracked global economic signals, geopolitical developments and expectations around the US Federal Reserve’s interest-rate policy. While gold prices eased in domestic futures trading, silver gained, keeping the precious metals market mixed.
On the Multi Commodity Exchange (MCX), gold futures were trading 0.70% lower at ₹1,52,050 per 10 grams around 9:13 am. MCX silver futures, meanwhile, rose about 0.90% to ₹2,33,030 per kg. The contrasting moves came as investors assessed developments in global markets and looked ahead to important US inflation data due this week.
In the retail market, both 24-carat and 22-carat gold prices recorded marginal declines across several major Indian cities. Silver, however, continued to remain firm in the domestic bullion market.
Gold has been particularly sensitive to movements in the US dollar and expectations about interest rates. International spot gold slipped on Monday after touching a seven-week high in the previous session. According to the latest market data, spot gold was down about 0.5% at $4,322.28 per ounce, while US gold futures declined 0.4% to $4,381.60.
The recent movement in gold comes after weaker-than-expected US employment data boosted expectations that the Federal Reserve could eventually adopt a less restrictive monetary policy. Lower interest rates generally support gold because the metal does not offer interest or dividends, making it relatively more attractive when bond yields fall.
Investors are now waiting for the latest US inflation readings for further clues about the Fed’s next move. The direction of US interest rates, the dollar and bond yields is expected to remain important for gold prices in the coming sessions.
The domestic retail market also reflected the softer tone in gold prices. In New Delhi, 24-carat gold was priced at ₹1,51,190 per 10 grams, while 22-carat gold stood at ₹1,38,591 per 10 grams. Silver 999 fine was quoted at ₹2,32,200 per kg.
In Mumbai, the 24-carat gold rate stood at ₹1,51,450 per 10 grams and 22-carat gold at ₹1,38,829. Silver was priced at ₹2,32,600 per kg.
Kolkata recorded a 24-carat gold price of ₹1,51,250 per 10 grams, while 22-carat gold was quoted at ₹1,38,646. Silver stood at ₹2,32,300 per kg.
Prices were slightly higher in some other major markets. In Bengaluru, 24-carat gold was available at ₹1,51,570 per 10 grams, while 22-carat gold was ₹1,38,939. Silver was quoted at ₹2,32,790 per kg.
Hyderabad recorded one of the higher retail gold prices, with 24-carat gold at ₹1,52,020 per 10 grams and 22-carat gold at ₹1,39,352. Silver was priced at ₹2,34,300 per kg. Chennai reported 24-carat gold at ₹1,52,220 per 10 grams, 22-carat gold at ₹1,39,535 and silver at ₹2,34,610 per kg.
The difference between 24-carat and 22-carat gold is important for consumers. While 24-carat gold is considered the purest form commonly traded, 22-carat gold is widely used for jewellery because the addition of other metals makes it more durable.
Market analysts are also watching the broader international environment. Moneycontrol reported that international spot gold was around $4,387.20 per ounce in early trade, while silver was at about $63.64 per ounce on Comex. The report said a weaker US dollar, softer crude prices and changing expectations around Federal Reserve policy had supported precious metals.
Recent US employment figures have added to expectations of a possible shift in the Fed’s policy outlook. July non-farm payrolls reportedly fell by 23,000, against market expectations of an increase of 85,000, while employment figures for May and June were revised lower by a combined 103,000. These developments have increased market attention on upcoming inflation figures.
For Indian buyers, however, international prices are only one part of the equation. Domestic gold rates are also influenced by the rupee-dollar exchange rate, import costs, taxes, local demand and bullion market conditions. Retail jewellery prices can further differ because of making charges, GST and other applicable costs.
Silver has meanwhile attracted attention because of its industrial as well as investment demand. Unlike gold, silver is widely used in electronics, solar panels and other industrial applications. This gives the metal an additional source of demand when industrial activity and investment interest remain supportive.
For consumers planning to buy gold jewellery or silver, the latest rates provide a snapshot rather than a guaranteed price for the entire day. Precious metal prices can change several times during trading hours as global markets respond to economic data, currency movements and geopolitical developments.
For now, the precious metals market remains finely balanced. MCX gold is trading below the previous session’s level, while MCX silver is gaining. With US inflation data and Federal Reserve expectations likely to influence global markets, gold price today and silver price today are expected to remain closely watched by investors, traders and retail buyers alike.