Gold prices extended its sharp rise on August 7. Gold's October contracts on the Multi Commodity Exchange of India (MCX) opened at Rs 1,01,361 per 10 grams today.
Let's check the latest prices of 10 grams of 22 carat and 24 carat gold in major cities of the country on August 7:
| City | Price of 24k gold | Price of 22k gold |
| Delhi | Rs 1,02,700/10g | Rs 94,150/10g |
| Mumbai | Rs 1,02,550/10g | Rs 94,000/10g |
| Chennai | Rs 1,02,550/10g | Rs 94,000/10g |
| Kolkata | Rs 1,02,550/10g | Rs 94,000/10g |
| Bengaluru | Rs 1,02,550/10g | Rs 94,000/10g |
| Jaipur | Rs 1,02,700/10g | Rs 94,150/10g |
| Lucknow | Rs 1,02,700/10g | Rs 94,150/10g |
| Hyderabad | Rs 1,02,550/10g | Rs 94,000/10g |
| Ahmedabad | Rs 1,02,600/10g | Rs 94,050/10g |
"Gold traded positive with gains of ₹300 at ₹1,01,500 as Comex gold remained firm above $3375, supported by dollar index weakness below 98. With limited impactful data lined up this week, focus remains on global trade tariffs and fresh Russian sanctions—both contributing to elevated gold prices. Unless there is a resolution or breakthrough in trade talks, gold is expected to stay buoyant. A strong profit booking phase may emerge only if prices breach below ₹99,500; until then, any dip is seen as a buying opportunity. Gold is likely to remain volatile within the ₹99,500–₹1,03,000 range," said Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities.
Also read: Is it time to increase your gold, silver exposure?
"The 25% tariff on Indian gold jewellery exports—already in effect—with an additional 25% set to begin on 27th August, delivers a compounded blow to the sector. It makes our products less competitive in the U.S. market and jeopardizes the livelihoods of thousands of skilled artisans, many from marginalized communities, who sustain India’s centuries-old jewellery craftsmanship through small workshops and family enterprises. This tariff shock is also pressuring the Indian Rupee, likely making gold costlier for domestic consumers and dampening demand within India—further straining the industry," said Avinash Gupta, Vice Chairman, All India Gem and Jewellery Domestic Council (GJC).
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