Gold shines brighter on July 31: 24K, 22K and 18K rates rise; check today's prices
Gold prices rose further on Friday, July 31, with 24K gold climbing ₹27 to ₹14,460 per gram from ₹14,433, 22K gold increasing ₹25 to ₹13,255 per gram from ₹13,230, and 18K gold gaining ₹20 to ₹10,845 per gram from ₹10,825. The continued upward movement has kept bullion prices firm, with buyers and investors closely tracking the latest trend in the domestic market.
| Purity | Price (Per Gram) |
| 24K Gold (99.9% purity) | ₹14,460 |
| 22K Gold (91.6% purity) | ₹13,255 |
| 18K Gold (75% purity) | ₹10,845 |
City-wise gold rate (1 gram)
| Cities | 24 Carat | 22 Carat | 18 Carat |
|---|---|---|---|
| Chennai | ₹14,434 | ₹13,231 | ₹11,046 |
| Mumbai | ₹14,460 | ₹13,255 | ₹10,845 |
| Delhi | ₹14,475 | ₹13,270 | ₹10,860 |
| Kolkata | ₹14,460 | ₹13,255 | ₹10,845 |
| Bangalore | ₹14,460 | ₹13,255 | ₹10,845 |
| Hyderabad | ₹14,460 | ₹13,255 | ₹10,845 |
| Thiruvananthapuram | ₹14,460 | ₹13,255 | ₹10,845 |
City-wise silver rate
| City | (10 grams) | (100 grams) | (1 kg) |
| Chennai | ₹2,350 | ₹23,500 | ₹2,35,000 |
| Mumbai | ₹2,350 | ₹23,500 | ₹2,35,000 |
| Delhi | ₹2,350 | ₹23,500 | ₹2,35,000 |
| Kolkata | ₹2,350 | ₹23,500 | ₹2,35,000 |
| Bangalore | ₹2,350 | ₹23,500 | ₹2,35,000 |
| Hyderabad | ₹2,350 | ₹23,500 | ₹2,35,000 |
| Kerala | ₹2,350 | ₹23,500 | ₹2,35,000 |
What determines gold prices in India?
Gold prices in India change almost every day and are influenced by a combination of domestic and global factors. The most important among them is the movement in international gold prices. When global gold prices rise or fall, domestic prices usually follow the same trend. This is why the gold price today is often different from what it was the previous day. Gold rates generally remain unchanged on Sundays as there is no trading in the international bullion market.
Currency movements also play a key role. Since India imports most of its gold, fluctuations in the value of the rupee against the US dollar directly affect domestic prices. A weaker rupee makes gold imports more expensive, pushing up prices, while a stronger rupee can help keep prices lower.
Inflation and interest rate expectations are another important factor. When inflation rises, investors closely watch how central banks respond. Higher interest rates can reduce the appeal of gold, while lower rates often make the precious metal more attractive as an investment.
Global events such as geopolitical tensions, wars, economic uncertainty and changes in investor sentiment can also drive gold prices higher. During periods of uncertainty, demand for gold usually increases as it is widely considered a safe-haven asset.
As several factors influence gold prices every day, buyers are advised to check the latest rates before making a purchase.