Gold and Silver Rates Today On August 17: Check the Latest Gold Rates in Your City

Gold and Silver Rates Today On August 17

Gold and Silver Rates Today On August 17: After remaining stable on the last day, the gold prices today in India have slightly increased.

On August 17, the 22-carat gold today in India stands at Rs 65,650 per 10 grams while the 24-carat gold today costs Rs 71,620 10 grams.

The price of 22-carat gold has increased by Rs 110 compared to last day’s price while the gold rate for 24-carat rose by Rs 120 in the last 24 hours.

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

The silver price today in India stands at Rs 84,000 per kilogram, the silver prices have gone up by Rs 500 compared to yesterday’s prices.

Gold is an important element for India as it is used for investments, gifts, and culture. Jewellery is also valuable to Indian women because it raises their social status.

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

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Factors Influencing Gold Prices In India

Here are some factors that highly influence gold prices in India:

Exchange Rates: The Indian rupee's value against the US dollar has a high influence on gold prices. For example, When the value of other currencies increases against the Indian rupee then the price of gold increases.

Taxes: In India, there are several taxes that directly and highly influence the gold price in the country. If the taxes such as excise duty or state tax on gold increase then the rates of gold will also increase and if the tax rates fall then the gold rates also decrease.

Demand and Supply: When the demand for gold is higher than its supply then the gold rates will rise and when the supply is higher than its demand then the gold rates will fall in India.

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