While MCX futures for gold and silver declined on 15 August amid global geopolitical unrest, retail prices across major Indian cities remained resilient, driven by investment demand and industrial needs.
Gold and silver eased in Indian futures trade on 15 August, even as retail prices stayed firm across major cities. Business Today reported that MCX gold for October delivery fell about 0.8% to ₹1,52,233 per 10 grams, while September silver futures dropped as much as 1.27% before trimming losses. The move came against a backdrop of renewed geopolitical unease, with traders watching the US-Iran conflict and the broader direction of the dollar and global bullion prices.
The weakness in futures did little to dent street-level prices. According to the report, the national retail rate for 24K gold stood at ₹15,288 a gram, or ₹1,52,880 per 10 grams, while 22K gold was quoted at ₹14,014 a gram and 18K at ₹11,466. Chennai and Coimbatore had the highest listed 24K rate at ₹15,316 a gram, while Delhi and Jaipur were slightly lower at ₹15,303.
Silver also remained expensive by historical standards despite the pullback in futures. Business Today said the metal was priced at ₹254.90 a gram, or ₹2,54,900 a kilogram, with the usual mix of investment demand and industrial use helping to support the market. The contract traded between an intraday low of ₹2,32,454 and a high of ₹2,33,982 before settling near ₹2,32,880.
Analysts and traders continue to watch international bullion benchmarks, the rupee and local premiums closely, as these often determine how quickly global moves feed into Indian retail rates. Recent swings have also shown how sensitive precious metals remain to shifts in US policy expectations and tensions in the Middle East, which can quickly alter sentiment in both gold and silver.
Disclaimer: This article is intended to inform and educate, not to recommend or endorse any financial product, investment or strategy. Please consider your own financial circumstances and seek professional advice where appropriate before making financial decisions.
