Gold and Silver Rates Today On August 16: Check the Latest Gold Rates in Your City

Gold and Silver Rates Today On August 16: After the hike in gold rate last day, the gold price in India today remained unchanged.

On August 16, the 22-carat gold rate today in India stands at Rs 65,540 per 10 grams while the gold rate for 24-carat today in India costs Rs 71,500 per 10 grams.

Yesterday the 22-carat gold rate stood at Rs 65,540 per 10 grams and the 24-carat gold was priced at Rs 71,500 per 10 grams.

In the MCX, the gold futures contracts maturing on October 2024 were down by Rs 547 and were trading at Rs 70,152 per 10 grams while the silver futures contracts were hiked by Rs 949 and were trading at Rs 80,100 per kilogram.

The silver rates today in India increased by Rs 200 in the last 24 hours and stand at Rs 83,500 per kilogram.

In India, gold is a valuable material, it is used for investing, offerings, and cultures. Gold as jewellery is also a valuable material for Indian women as it improves their prestige in society.

Also Read: Gold and Silver Rates Today On August 15: Check the Latest Gold Rates in Your City

Let’s take a look at the prevailing gold rate in different cities in India today:

The massive fluctuation in gold prices was recorded in July 2024 when the government presented the Union Budget which reduced the excise duty imposed on gold from 15% to 6%.

After the announcement of the Union Budget, the gold and silver rates went down by Rs 4000 on the second day of the Budget.

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