New Delhi, July 29, 2025 – Gold prices saw a slight dip across India today, bringing mild relief to buyers eyeing the precious metal. In the national capital, the price of 24-carat gold was trading around ₹1,00,070 per 10 grams, while in cities like Mumbai, Chennai, and Kolkata, the rate hovered near ₹99,920. Meanwhile, 22-carat gold stood at approximately ₹91,740 per 10 grams. The silver rate remained steady at ₹1,15,900 per kilogram.
This minor price fluctuation is attributed to shifting global trade dynamics and currency strength, both of which play a significant role in determining gold rates in the domestic market. Here's a comprehensive look at what’s influencing gold and silver prices and what current rates look like across key Indian cities.
The recent price drop is largely due to global geopolitical and economic developments. A fresh trade agreement between the United States and the European Union is at the center of this change. Under this new deal, the U.S. has imposed a 15% tariff on European goods, while the EU has committed to significant investments in U.S. industries. This agreement has led investors to believe that global trade tensions may ease, prompting them to move away from traditionally "safe-haven" assets like gold and into riskier investments such as equities.
Adding to the pressure, the U.S. dollar has strengthened over the past week, with the Dollar Index rising for three consecutive days. A strong dollar makes gold more expensive for foreign buyers, reducing global demand. Stability in U.S. economic indicators and Federal Reserve policy has also pushed investors toward alternative assets, contributing to the weakening gold prices.
| City | 22-Carat Gold | 24-Carat Gold |
|---|---|---|
| Delhi | ₹91,740 | ₹1,00,070 |
| Mumbai | ₹92,540 | ₹99,920 |
| Chennai | ₹91,590 | ₹99,920 |
| Kolkata | ₹92,540 | ₹99,920 |
| Jaipur | ₹91,740 | ₹1,00,070 |
| Noida | ₹91,740 | ₹1,00,070 |
| Ghaziabad | ₹91,740 | ₹1,00,070 |
| Lucknow | ₹91,740 | ₹1,00,070 |
| Bengaluru | ₹91,590 | ₹99,920 |
| Patna | ₹91,590 | ₹99,920 |
The price of silver remained unchanged compared to the previous day. As of July 29, silver is trading at ₹1,15,900 per kilogram across the country.
Gold prices in India are influenced by a variety of global and domestic factors, including:
International gold rates
Import duties and local taxes
Rupee-to-dollar exchange rate
Local demand and supply
Festive and wedding season trends
Gold in India isn't just an investment—it holds deep cultural and traditional significance, especially during festivals and weddings. As a result, any shift in pricing has a direct impact on household finances and consumer behavior.
Although today’s decline in gold prices is marginal, it reflects larger global economic sentiments and the shifting behavior of investors. For buyers and investors, it remains essential to stay updated with daily price movements and international cues that influence the bullion market.
Stay tuned for daily updates on gold and silver rates, and make informed investment decisions based on market trends.
