Gold and silver prices declined in India on Friday, August 14, as investors booked profits after a recent rally in precious metals. The retreat came even as geopolitical tensions surrounding Iran continued to support demand for bullion as a safe-haven asset. Domestic gold and silver rates also reflected weakness in international markets, with both metals trading lower during the morning session.
According to the latest retail rates, 24-karat gold in New Delhi was priced at ₹1,52,100 per 10 grams, while 22-karat gold stood at ₹1,39,425 per 10 grams. In Mumbai, 24K gold was available at ₹1,52,360 per 10 grams and 22K gold at ₹1,39,663. Kolkata recorded 24K gold at ₹1,52,160 and 22K gold at ₹1,39,480 per 10 grams.
Silver prices also moved lower. The 999-fine silver rate in New Delhi was ₹2,33,360 per kilogram, while Mumbai recorded ₹2,33,770 per kg. In Kolkata, silver was priced at ₹2,33,460 per kg. The rates vary across cities because of local taxes, transportation costs, dealer margins and other market factors.
Among other major cities, Bengaluru’s 24K gold rate stood at ₹1,52,480 per 10 grams, while Chennai recorded ₹1,52,880. Hyderabad was at ₹1,52,600. For 22K gold, rates were ₹1,36,950 in Bengaluru, ₹1,40,140 in Chennai and ₹1,39,883 in Hyderabad. Silver was quoted at ₹2,33,950 per kg in Bengaluru, ₹2,34,450 in Chennai and ₹2,34,140 in Hyderabad.
In the futures market, MCX gold was trading about 0.55% lower at ₹1,52,750 per 10 grams around 9:13 am on Friday. MCX silver futures were down nearly 0.98% at ₹2,34,480 per kg at the same time. The movement indicates that domestic bullion markets were following the softer global trend.
Internationally, spot gold fell 0.5% to $4,330.37 an ounce in early trading on Friday, while US gold futures for December delivery declined 0.8% to $4,386.80. Gold had reached its highest level since June 5 during the previous session before ending Thursday 1.3% lower. The sharp reversal prompted investors to lock in profits after the recent gains.
Silver followed the same direction. Spot silver declined 0.8% to $63.92 an ounce. Platinum fell 1% to $1,700.60 an ounce, while palladium slipped 0.3% to $1,303.25. The weakness across the broader precious-metals market reflects a period of consolidation following recent gains.
The outlook for gold remains closely linked to expectations surrounding US interest rates. Recent US economic data have complicated the Federal Reserve’s policy outlook. Producer prices in the US were unchanged in July, following relatively mild consumer inflation data. These readings have strengthened expectations that the Federal Reserve could leave interest rates unchanged at its September meeting. Lower interest rates generally support gold because they reduce the opportunity cost of holding a non-yielding asset such as bullion.
At the same time, Cleveland Federal Reserve President Beth Hammack has maintained that interest rates should be raised immediately to contain economic growth and persistent inflation. Her comments highlight the uncertainty among policymakers and could contribute to volatility in gold prices as markets reassess the likely path of US monetary policy.
Geopolitical developments are another important factor for the gold price today. Tensions between the US and Iran remain elevated, with Washington threatening to maintain its naval blockade of Iran indefinitely as ceasefire negotiations have stalled. Such uncertainty can encourage investors to move money into traditional safe-haven assets such as gold.
However, safe-haven demand is currently competing with profit booking. Gold’s strong run earlier in the week pushed prices to a two-month high, encouraging traders to realise gains. This explains why bullion prices can fall even when geopolitical risks remain elevated.
Silver’s longer-term movement also remains significant for investors because the metal has both investment and industrial demand. Prices are influenced not only by financial-market sentiment but also by demand from industries such as electronics and solar energy. According to Mint’s latest data, silver was around ₹2,33,121 per kg on August 14, down from ₹2,35,656 a day earlier. Despite the daily decline, silver remained higher than its level at the beginning of August.
For buyers, retail gold prices are different from quoted international or futures prices. Jewellery prices can also be higher because of GST, making charges and other levies. Consumers should therefore compare the final bill rather than relying only on the headline gold rate.
For investors, the current movement underlines the volatility in the precious-metals market. Gold continues to receive support from geopolitical uncertainty, central-bank demand and expectations around US monetary policy, while silver is influenced by both investment flows and industrial consumption. With these factors pulling prices in different directions, gold and silver rates may remain volatile in the near term.