Gold Prices Rise Across Key Indian Cities on August 20

Gold prices in India registered an increase across all major cities on August 20. The upward revision was observed in both 22-carat and 24-carat variants, affecting prices for single grams as well as 8-gram denominations compared to the previous day's rates.

Across the country, the average benchmark rate stood at ₹14,650 for 1 gram of 22-carat gold, marking an increase of ₹395. The corresponding rate for 8 grams of 22-carat gold reached ₹1,17,200, up by ₹3,160.

In Mumbai, 22-carat gold was priced at ₹14,650 for 1 gram (up by ₹395) and ₹1,17,200 for 8 grams (up by ₹3,160). For 24-carat gold in Mumbai, 1 gram cost ₹15,383 (up by ₹415) and 8 grams cost ₹1,23,064 (up by ₹3,320).

In Chennai and Hyderabad, rates for 22-carat gold stood at ₹14,600 for 1 gram (up by ₹395) and ₹1,16,800 for 8 grams (up by ₹3,160). The 24-carat gold in both cities was recorded at ₹15,330 for 1 gram (up by ₹415) and ₹1,22,640 for 8 grams (up by ₹3,320).

In Delhi, 22-carat gold was priced at ₹14,700 for 1 gram (up by ₹395) and ₹1,17,600 for 8 grams (up by ₹3,160). 24-carat gold in the national capital reached ₹15,435 for 1 gram (up by ₹415) and ₹1,23,480 for 8 grams (up by ₹3,320).

In Ahmedabad, 22-carat gold traded at ₹14,704 for 1 gram (up by ₹395) and ₹1,17,632 for 8 grams (up by ₹3,160). Meanwhile, 24-carat gold in Ahmedabad was priced at ₹15,439 for 1 gram (up by ₹415) and ₹1,23,512 for 8 grams (up by ₹3,320).

Bengaluru recorded slightly higher rates, with 22-carat gold at ₹14,710 for 1 gram (up by ₹404) and ₹1,17,680 for 8 grams (up by ₹3,232). 24-carat gold in Bengaluru was priced at ₹15,446 for 1 gram (up by ₹425) and ₹1,23,568 for 8 grams (up by ₹3,400).

In Kolkata, 22-carat gold was priced at ₹14,750 for 1 gram (up by ₹395) and ₹1,18,000 for 8 grams (up by ₹3,160). 24-carat gold in Kolkata stood at ₹15,488 for 1 gram (up by ₹415) and ₹1,23,904 for 8 grams (up by ₹3,320).

"Fluctuations in daily commodity prices like gold directly impact consumer purchasing behavior and retail market liquidity. For entrepreneurs and businesses operating in retail, consumer goods, and financial services, tracking these pricing shifts is essential for managing working capital and understanding consumer spending patterns during periods of upward price movement." — Dr. Shishir Gupta, Founder & CEO, StartupLanes