Gold Price Update on August 1: Yellow metal price rises marginally to Rs 53,743 per 10 gram

Gold prices on Saturday rose marginally to Rs 53,743 from Rs 53,708 per 10 gram on recovery in international prices.

According to prices given by the Indian Bullion and Jewellers Association, a Mumbai-based industry body, on July 31, the rate without GST for gold (purity-999) is Rs 53,277, while for gold with purity-995 is Rs 53,064. Meanwhile, silver prices also rose to Rs 63,975 from Rs 63,765 per kg.

Gold prices according to purity levels are as follows:

999 - Rs 53,743/-

995 - Rs 53,528/-

916 - Rs 49,229/-

750 - Rs 40,307/-

585 - Rs 31,440/-

On the Multi Commodity Exchange, gold contracts for October delivery traded higher by Rs 645, or 1.22 per cent, at Rs 53,425 per 10 gram in a business turnover of 16,609 lots. Fresh positions built up by participants led to the rise in gold prices, analysts said. In the international market, gold was trading with gains at USD 1,976 per ounce and silver at USD 24 per ounce.

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