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

Augmont Enterprises’ initial public offering has been subscribed 2.88 times, with bidding for the Rs 825 crore issue continuing through August 25.

The IPO opened on August 21 with a price band of Rs 750-788 per share, made up of a fresh issue worth Rs 620 crore and an offer for sale of Rs 205 crore.

Non-institutional investors have shown the strongest demand at 4.18 times subscribed, followed by retail investors at 2.94 times and qualified institutional buyers at 1.85 times.

Augmont Enterprises operates an integrated precious metals platform spanning procurement and refining, bullion trading, digital gold, jewellery manufacturing and international sales.

The basis of allotment is expected to be finalised on August 27, with shares credited to successful applicants’ demat accounts by August 28 and listing on the BSE and NSE tentatively set for August 31.

Grey market premium ahead of listing has pointed to gains of around 35-36 percent over the issue price, though brokerages have flagged thin operating margins as a risk factor for investors.

Most brokerages tracking the issue have recommended subscribing, citing Augmont’s integrated business model spanning procurement, refining, bullion trading and digital gold, though some flagged thin operating margins of below 0.4 percent and customer concentration as risks.

Founded in October 2012 and based in Mumbai, Augmont Enterprises operates across 24 states in India, alongside international sales and gold-backed financial services.

The IPO’s minimum application lot is 19 shares, meaning a retail investor bidding at the upper price band of Rs 788 would need to invest at least Rs 14,972.

Augmont Enterprises reported a net profit of Rs 348.30 crore in FY26, with total income of Rs 94,282.47 crore, giving the company a market capitalisation of more than Rs 7,200 crore at the upper price band.

Nuvama Wealth Management is the book running lead manager for the issue, with MUFG Intime India serving as registrar.

Photo by Slav4 (Ariel Palmon), 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