Gold prices in India remained near record levels today, with 24-carat gold trading around Rs 1,60,640 per 10 grams in Delhi, Bengaluru and Chennai.

22-carat gold was priced at roughly Rs 1,47,260 per 10 grams in the same cities, while Mumbai and Kolkata saw similar rates, marginally below Delhi’s.

Silver also traded higher, with rates around Rs 27,710 per 100 grams in Delhi and Rs 27,090 per 100 grams in Mumbai.

The domestic strength reflects a broader global rally, with spot gold surging past $4,400 an ounce, its highest level in more than two months, up roughly 11 percent since the start of August.

The rally has been fuelled by cooling US inflation data reshaping expectations around Federal Reserve policy, a weaker dollar, and sustained heavy buying by central banks.

Market watchers are tracking upcoming US economic data and currency movements for further direction, with domestic Indian rates expected to continue tracking the international trend closely.

Silver prices have also moved higher alongside gold, with MCX silver futures gaining nearly 1 percent in trading tied to today’s session.

Domestic gold rates in India typically track international bullion trends closely, with the rupee’s movement against the dollar also playing a role in daily price swings.

Globally, spot gold has surged past $4,400 an ounce, its highest level in more than two months, rising roughly 11 percent since the start of August.

Cooling US inflation data has shifted expectations around Federal Reserve monetary policy, with moderating inflation and weaker labour market readings reducing the likelihood of further rate hikes.

Central banks bought a quarterly record of 288.9 tonnes of gold in the second quarter of this year, even as prices fell during that stretch.

A survey found roughly 45 percent of central banks expect to further increase their gold reserves over the next 12 months, according to industry data.

Photo by Adbh266, Wikimedia Commons, CC BY-SA 3.0

India’s private sector activity climbed slightly in August, recovering from an over four-year low as services growth staged a rebound.

The HSBC Flash India Composite PMI, compiled by S&P Global, rose to 54.6 in August from 54.3 in July, above a Reuters poll median estimate of 54.3.

The improvement was led by services businesses, which reported a modest re-acceleration in activity and new work following their weakest growth in 53 months in July.

Manufacturing growth continued to weaken, with the HSBC Flash India Manufacturing PMI falling for a third consecutive month to 52.9, its softest level in five years.

The composite index remained above the 50-mark separating growth from contraction, though it stayed well below the roughly 60 average recorded earlier in 2026.

The figures paint a mixed picture for India’s economy, with services offering support even as factory output growth keeps losing momentum into the year’s final months.

Business sentiment for the year ahead improved across both the manufacturing and services sectors compared with July, according to the survey data.

The Reuters poll of economists had pegged the composite PMI at 54.3 for August, meaning the actual reading of 54.6 came in slightly above expectations.

The PMI survey is compiled by S&P Global from responses submitted by private-sector companies each month, and is closely watched as an early indicator of economic momentum ahead of official government data.

July’s composite reading of 54.3 was itself the weakest in over four years, making August’s modest uptick to 54.6 a break from what had been a multi-month slowing trend.

The HSBC Flash India Manufacturing PMI fell for a third straight month to 52.9, its weakest reading in five years, even as it stayed above the 50-mark that separates growth from contraction.

Job creation across India’s private sector accelerated to its fastest pace since June 2025, with the services sector leading the pickup in hiring.

Photo by Gnoeee, Wikimedia Commons, CC BY-SA 4.0

Domestic LPG, CNG and PNG prices have remained largely stable across major Indian cities, according to the latest rates published by state-run oil marketing companies.

A 14.2 kg domestic LPG cylinder costs Rs 941.50 in Mumbai, while in Delhi, state-run oil companies have been selling a household cooking gas cylinder at Rs 942 since June this year.

Tripura’s South Tripura district continues to record the highest LPG price in the country, with a 14.2 kg cylinder priced at Rs 1,119.50, reflecting higher transportation and logistics costs to the northeastern state.

The 19 kg commercial LPG cylinder, typically used by restaurants and small businesses, is currently priced at Rs 2,885.50.

Piped natural gas in Mumbai stands at Rs 51.50 per unit, with no change recorded compared to the previous month’s rate.

Oil marketing companies typically revise LPG, CNG and PNG prices on a monthly basis, factoring in international crude oil prices, exchange rate movements and domestic tax structures.

The current price stability comes even as global crude oil prices have remained elevated in recent weeks, a factor that has weighed on broader market sentiment in other sectors.

Consumers have been advised to check the latest rates on their respective city gas distribution company’s website, as prices can vary by a few rupees between cities depending on local taxes and distribution costs.

CNG prices, used widely by auto-rickshaws, taxis and private vehicles in cities like Delhi and Mumbai, have also remained broadly steady in recent weeks, offering some relief to commuters amid otherwise elevated fuel costs.

Domestic cylinder prices have stayed largely unchanged in recent months despite fluctuations in international crude benchmarks, keeping household cooking gas costs relatively predictable for consumers.

Households eligible under the Pradhan Mantri Ujjwala Yojana continue to receive subsidised LPG connections, a scheme aimed at expanding clean cooking fuel access in rural India.

Photo by Ks.mini, Wikimedia Commons, CC BY-SA 3.0