Gold-Silver Prices Today (July 31): Gold prices are witnessing a surge again today. Gains are being observed across 24-carat, 22-carat, and 18-carat gold categories.

Gold-Silver Prices Today (July 31): In contrast to the domestic market, gold prices are seeing a decline in the international market today. On the US Commodity Exchange (COMEX), gold is trading at 4,152.6 per ounce, down by 0.19%.

However, in the domestic bullion market, the trend is the opposite; gold is trading 0.91% higher compared to yesterday. With this rise, the price of 24-carat gold reached ₹1,43,820 per 10 grams today, up from ₹1,42,530 yesterday—an increase of ₹1,290.

Prices for 22-carat and 18-carat gold

Just like 24-carat gold, 22-carat and 18-carat gold are also seeing a rise in prices today. The price of 22-carat gold stands at ₹1,31,843 per 10 grams today, compared to ₹1,30,653 yesterday—an increase of ₹1,190. The price of 18-carat gold is ₹1,07,865 per 10 grams today; this marks a rise of ₹972 from yesterday's price of ₹1,06,893.

Why did gold prices suddenly rise?

The primary reason for this sudden surge in gold prices today is the renewed tension between the US and Iran. In response to persistent drone attacks by the Iran-backed militia group 'Popular Mobilization Forces' (PMF) on US military bases and Saudi Arabian oil refineries, the US military launched heavy airstrikes in Iraq yesterday as a strong countermeasure.

President Donald Trump has warned that those who harm US interests will be taught an even harsher lesson. Whenever a climate of war or unrest emerges globally, the demand for gold rises as a safe-haven investment, with investors shifting funds from volatile markets—such as the stock market—into gold.

What is the price of silver?

Silver prices on COMEX have risen by 0.12% to stand at $59.09 per troy ounce. Meanwhile, in domestic markets, the price of silver has climbed 1.08% to reach ₹2.20 lakh per kilogram. Silver is also considered a safe-haven asset during times of war. Additionally, prices are rising due to increasing industrial demand for the metal in solar panels and defense electronics.