Overview

• The India Bullions Association set the national benchmark at ₹99,650 per 10 gm on August 19, down from ₹1,00,390 the previous day.
• Major city quotes slipped under the threshold, including New Delhi at ₹99,290, Mumbai ₹99,460, Bengaluru ₹99,540, and Chennai ₹99,750 per 10 gm.
• Global spot gold traded near $3,332 an ounce, and October 3 MCX futures hovered around ₹99,440 per 10 gm.
• Silver was quoted at ₹1,14,110 per kg on IBJA, following a prior All India Sarafa Association reading of ₹1,15,000 per kg.
• Market commentary tied the pullback to easing geopolitical risk, with traders also watching the dollar, Fed minutes, and Chair Jerome Powell’s Jackson Hole remarks.