August Recovery: Gold Gains Nearly ₹20,000; Silver Drops to ₹2.44 lakh/kg

After a steep decline from January’s peaks, gold has staged a strong comeback in August. MCX gold futures for 24‑carat metal opened at Rs 1,63,116 per 10 grams on Monday, up Rs 678 from the previous close and well above the Rs 1.62‑lakh landmark.

Since the last trading day of July, when gold settled at Rs 1,43,376, the metal has accumulated a gain of nearly Rs 19,740 per 10 grams, reflecting a 13.8 % increase.

Silver did not share the same optimism. The September 4 futures contract opened at Rs 2,44,815 per kilogram, a fall of Rs 1,782 from Friday’s level. The price is still a full Rs 1,75,233 below the January record high of Rs 4,20,048.

The market data also included a comprehensive list of petrol and diesel prices across major Indian cities, ranging from Rs 96 to Rs 115 per litre.

Overall, the week started with gold on an upswing and silver on a downtrend, underscoring the divergent dynamics in the precious‑metal segment.