Gold and Silver Rates Today On August 18: Check the Latest Gold Rates in Your City

Gold and Silver Rates Today On August 18

Gold and Silver Rates Today On August 18: After a small rise in gold price the previous day, the gold rate today in India has increased significantly in the last 24 hours.

On August 18, the gold rate for 22-carat stands at Rs 66,700 per 10 grams while the gold rate for 24-carat costs Rs 72,770 per 10 grams.

The 22-carat gold rate today rose by Rs 1,050 compared to last day’s price and the 24-carat gold rate today went up by Rs 1,150 in the last 24 hours.

Yesterday, the 22-carat gold in India stood at Rs 65,650 per 10 grams while the 24-carat gold rate is priced at Rs 72,770 per 10 grams.

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The silver rate today in India went up by Rs 200 and stands at Rs 86,000 per kilogram.

It is crucial to keep track of the latest gold price prevailing in your area if you are planning to purchase gold today.

Gold is a valuable material for India as it is used in several cultures and events. Gold is also used as an offering element to the Lord and even in weddings.

Gold as jewellery is also worn by millions of women in India, it signifies an identity to them and their social status.

Let's take a look at the current prevailing gold rates today in different cities in India:

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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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