The new month of August has begun on a positive note for consumers. From reduced LPG cylinder prices to falling gold and silver rates, it’s shaping up to be a great day for savings. If you’re planning to buy gold or silver jewellery, today might be a perfect day. Compared to yesterday, gold prices have dropped by up to ₹580 per 10 grams, while silver has also become cheaper by ₹3,000 per kilogram.
On Friday, August 1, 2025, gold prices in India recorded a significant drop. The rate of 24-carat gold is now around ₹1,00,000 per 10 grams, while 22-carat gold is trading near ₹91,800 per 10 grams. Silver, on the other hand, is priced at ₹1,14,900 per kg—marking a sharp fall from the previous day.
1. Strengthening of the Indian Rupee:
On Thursday, the Indian Rupee gained 22 paise against the US Dollar, closing at 87.58. This appreciation came on the back of declining crude oil prices and likely intervention by the Reserve Bank of India. A stronger rupee typically reduces the cost of imported goods, including gold, which contributed to today's domestic price correction.
2. Global Economic Factors:
According to Saumil Gandhi, a senior analyst at HDFC Securities, recent U.S. GDP figures strengthened the U.S. Dollar, leading investors to shift from safe-haven assets like gold to higher-risk investments. This global sell-off further pushed gold prices downward.
| City | 22K Gold (₹) | 24K Gold (₹) |
|---|---|---|
| Delhi | ₹91,840 | ₹1,00,170 |
| Mumbai | ₹91,690 | ₹1,00,020 |
| Chennai | ₹91,690 | ₹1,00,020 |
| Kolkata | ₹91,690 | ₹1,00,020 |
| Jaipur | ₹91,840 | ₹1,00,170 |
| Noida | ₹91,840 | ₹1,00,170 |
| Ghaziabad | ₹91,840 | ₹1,00,170 |
| Lucknow | ₹91,840 | ₹1,00,170 |
| Bengaluru | ₹91,690 | ₹1,00,020 |
| Patna | ₹91,690 | ₹1,00,020 |
Gold rates in India are influenced by a mix of international and domestic factors:
Global gold prices
Import duties and taxes
Rupee-dollar exchange rates
Market demand and supply
Since gold plays a vital role in Indian weddings and festivals, price changes have a direct impact on household decisions and investments.
24K Gold: ₹1,00,000–₹1,00,170 per 10 grams
22K Gold: ₹91,690–₹91,840 per 10 grams
Silver: ₹1,14,900/kg (₹3,000 cheaper than yesterday)
Reason for drop: Strong rupee and global economic shifts
If you’ve been waiting for the right time to buy jewellery or invest in gold or silver, today could be a smart move. Always verify local rates and purity before making a purchase.
