Gold Prices India Drop (August 13, 2025): MCX Gold and silver prices in India dropped over Rs 2000 on Tuesday, 12 August. In Mumbai, 24-carat gold was Rs 1,01,400 per 10 grams, and silver was Rs 1,15,000 per kg.
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MCX Silver Gold Prices India Drop on Tuesday
Gold prices plunged ₹1,000 to ₹1,01,520 per 10 grams in the national capital on Tuesday (August 13, 2025) in line with a sell-off in global markets, according to the All India Sarafa Association.
On Monday (August 12), the precious metal of 99.9 per cent purity had settled at ₹1,02,520 per 10 grams.
In the local markets, gold of 99.5 per cent purity dipped ₹1,000 to ₹1,01,100 per 10 grams (inclusive of all taxes) on Tuesday.
“Gold prices dipped after U.S. President Donald Trump clarified on social media that there would be no tariffs on gold imports. Although an official confirmation from the White House is still pending, the announcement eased some trade-related concerns,” Abans Financial Services CEO Chintan Mehta said.
Adding to this, the White House announced on Monday (August 11) that the suspension of high-level tariffs on China will be extended until November 11. This decision has helped ease ongoing macroeconomic tensions for now, which has pressured gold prices downwards, Mehta added.
On Tuesday, the rupee edged higher by 10 paise to 87.65 against the U.S. dollar in early trade.
Meanwhile, silver prices slumped by ₹2,000 to ₹1,12,000 per kilogram (inclusive of all taxes) on Tuesday. It had settled at ₹1,14,000 per kg on Tuesday.
On the global front, spot gold was trading at $3,347.18 per ounce, up by 0.13 per cent in New York.
‘Trump’s announcement allays fears’
Renisha Chainani, Head of Research at Augmont, said Mr. Trump’s announcement on Monday that gold will not be subject to tariffs allayed concerns about a dramatic rise in the price of importing the metal, causing prices to drop below $3,400 per ounce.
Spot silver rose nearly 1 per cent to trade at $37.90 per ounce in the overseas markets.
“Investors will continue to closely watch upcoming U.S. macroeconomic data, such as Consumer Price Index, Producer Price Index and retail sales, which will provide fresh cues on the Federal Reserve’s interest rate trajectory,” Ms. Chainani said.
According to commodities market experts, speeches from some U.S. Fed officials will play a key role in driving the near-term U.S. dollar price dynamics and provide some meaningful impetus for the direction of bullion prices.
The demand for the safe haven asset took a hit due to speculation that the meeting between Mr. Trump and his Russian counterpart Vladimir Putin on Friday (August 15, 2025) could unveil a truce plan for the ongoing Russia-Ukraine conflict, they added.
However, in the futures market on the MCX, gold futures (expiring on October 03, 2025) were trading lower by 0.02% at Rs 1,00,300 per 10 gram, whereas silver (expiring on September 5, 2025) traded 0.23% up at Rs 1,13,560 per kg.
What Is The Price Of 22kt, 24kt Gold Rates Today In India Across Key Cities On August 12?
| City | 22K Gold (per 10gm) | 24K Gold (per 10gm) |
|---|---|---|
| Delhi | Rs 93,100 | Rs 1,01,550 |
| Jaipur | Rs 93,100 | Rs 1,01,550 |
| Ahmedabad | Rs 93,000 | Rs 1,01,450 |
| Patna | Rs 93,000 | Rs 1,01,450 |
| Mumbai | Rs 92,950 | Rs 1,01,400 |
| Hyderabad | Rs 92,950 | Rs 1,01,400 |
| Chennai | Rs 92,950 | Rs 1,01,400 |
| Bengaluru | Rs 92,950 | Rs 1,01,400 |
| Kolkata | Rs 92,950 | Rs 1,01,400 |
Reserve Bank of India – Repo Rate Unchanged
RBI MPC decided to keep the repo rate unchanged at 5.50 per cent in August meet, along with maintaining the “Neutral” instance.
What Factors Affect Gold Prices In India?
International market rates, import duties, taxes, and fluctuations in excange rates primarily influence gold prices in India. Together, these factors determine the daily gold rates across the country.
In India, gold is deeply cultural and financial. It is a preferred investment option and is key to celebrations, particularly weddings and festivals.