The decline in gold prices across the country has halted. On the morning of July 31, rates increased in most cities. In the capital, Delhi, the price of 24-carat gold rose to ₹144,490 per 10 grams. In Mumbai, the rate reached ₹144,340 per 10 grams. This rise is attributed to an uptick in global gold prices and fresh buying by domestic jewelers. According to Reuters, spot gold in the international market stands at $4,096.29 per ounce, while US gold futures for August delivery are at $4,094.10 per ounce.
The US Federal Reserve left benchmark interest rates unchanged at 3.50%–3.75% during its July meeting. A reduction or stabilization of interest rates acts as a positive trigger for assets like gold and silver.
Gold rates in major cities:
Gold price in Delhi: The price of 24-carat gold in Delhi is ₹144,490 per 10 grams, while the rate for 22-carat gold is ₹132,260 per 10 grams.
Mumbai and Kolkata: In Mumbai and Kolkata, the price of 22-carat gold is ₹132,310 per 10 grams, and the price of 24-carat gold is ₹144,340 per 10 grams.
Gold price in Chennai: The price of 24-carat gold is ₹144,340 per 10 grams, and the rate for 22-carat gold is ₹132,310 per 10 grams.
Prices in Pune and Bengaluru: In both these cities, the price of 24-carat gold is ₹144,340 per 10 grams, and the price of 22-carat gold is ₹132,310 per 10 grams. City Today's Price for 22-Carat Gold (₹) Today's Price for 24-Carat Gold (₹)
Delhi 132,260 144,490
Mumbai 132,310 144,340
Ahmedabad 132,360 144,390
Chennai 132,310 144,340
Kolkata 132,310 144,340
Hyderabad 132,310 144,340
Jaipur 132,260 144,490
Bhopal 132,360 144,390
Lucknow 132,260 144,490
Chandigarh 132,260 144,490
**Decline in Gold Demand in the Country**
In the April-June 2026 quarter, gold demand in India fell by 6 percent year-on-year to 131.4 tonnes. According to a World Gold Council report, total demand during the same period last year stood at 139.7 tonnes. Global gold demand remained stable at 1,269 tonnes year-on-year during the April-June quarter; total global gold demand in the June 2025 quarter was 1,268.6 tonnes.
**Silver Price**
In contrast to gold, the price of silver—another precious metal—continues to decline within the country. As of the morning of July 31, silver is priced at ₹234,900 per kilogram. According to Reuters, the price of spot silver in the international market has reached $58.98 per ounce. Domestic prices for gold and silver are influenced by both local and global factors.
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