Gold, silver prices today, 17 August: Check retail rates of 24K, 22K gold, 999 silver in Delhi, Mumbai and Kolkata

Gold and silver prices: The price of the yellow metal in India's retail market rose on Monday, 17 August, amid ongoing uncertainty over the US-Iran conflict in the Middle East.

The US Central Command Commander Adm Brad Cooper on Sunday acknowledged mental health challenges aboard the USS Lincoln after reports that a sailor jumped overboard amid the aircraft carrier’s long Middle East deployment, as per a report from CNBC US.

According to another report, the caverns that hold the US strategic oil reserves could be damaged by the rapid release of stockpiles in response to the war in Iran, experts warned this week as inventories hit a four-decade low.

Due to these developments, both 24-karat and 22-karat gold rates are showing a marginal increase across major cities in India. Silver prices also rose in the domestic bullion market.

MCX gold rate on 17 August was trading 0.23% higher at ₹ 155,170 per 10 grams. MCX silver futures, were trading about 0.57% higher at ₹ 238,620 per kg at around 9:13 am.

In the retail market, gold is sold in 24-karat and 22-karat purity. While 24-karat gold is considered the purest form, 22-karat gold is commonly used for jewellery because it's more durable.

Here's a look at the latest gold prices across major Indian cities on 17 August.

Shivam writes on personal finance, equity markets, and mutual funds. He has previously contributed to several leading publications, including Moneycontrol. He can be reached at shivam.shukla@htdigital.in

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