Bullion prices in India rose on 18 August, driven by international market trends and geopolitical tensions, with traders cautious ahead of potential US Federal Reserve decisions.
Gold and silver prices were higher in India on 18 August, with local bullion rates tracking gains in overseas markets and renewed investor caution over the global economic outlook. According to India.com, the move came as softer-than-expected United States economic data strengthened bets that the Federal Reserve will keep interest rates unchanged, while geopolitical tensions and a weaker dollar also supported precious metals.
India Bullion and Jewellers Association data cited by India.com showed 24-carat gold at Rs 15,567 a gram in most major cities, with Delhi slightly higher at Rs 15,582. Rates for 22-carat gold were broadly Rs 14,271 a gram, while 18-carat prices ranged from Rs 11,677 to Rs 12,051 depending on the city. Chennai, Mumbai, Kolkata, Bengaluru, Hyderabad and several other centres were listed at the lower end of the range, while Delhi, Jaipur, Lucknow and Chandigarh were marginally more expensive.
On the Multi Commodity Exchange, gold futures for October delivery rose 0.73% to Rs 1,54,590, while silver futures for September advanced 0.15% to Rs 2,36,272 a kilogram, India.com reported. The publication also said 24-carat gold had increased from Rs 1,42,863 at the start of the week to Rs 1,49,621 by Friday, underlining how quickly bullion prices have been moving amid swings in crude oil, Treasury yields and the dollar.
Silver also edged lower in retail terms from the previous day, with India.com putting the price at Rs 249.90 a gram, or Rs 2,49,900 a kilogram. Historical data on goldpriceindia.com and goldprice.org shows that 18 August has often seen active trading in precious metals, while market coverage from India Today, Financial Express and Editorji in 2023 also pointed to firmer MCX gold and silver prices on that date, reinforcing the pattern of bullion’s sensitivity to global rate expectations and investor sentiment.
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