Gold Price Today: Gold falls further due to two reasons; here are the current rates for 24-carat to 18-carat gold across 10 cities..
Gold Rate Today in India: Gold prices came under pressure due to a strengthening dollar and investor caution ahead of the US Federal Reserve's monetary policy announcement on July 29, while silver faced additional downward pressure from subdued industrial demand. Regarding gold, its shine has dimmed for the second consecutive day following a brief spike. Over the past two days, the price of 10 grams of 24-carat gold in Delhi has dropped by ₹1,700, while 22-carat gold has become cheaper by ₹1,560. Today, the price of 10 grams of both 24-carat and 22-carat gold in the capital has dipped by ₹10. Silver has also seen its luster fade today; after remaining stable for two days, its price has fallen for the second consecutive day. Over these two days, the price of one kilogram of silver has dropped by ₹5,100. City-wise Gold Rates
Let’s find out the price of 10 grams of gold (18-carat, 22-carat, and 24-carat purity) across 10 major cities in the country...
City 24-Carat Gold Rate (10g) 22-Carat Gold Rate (10g) 18-Carat Gold Rate (10g)
Delhi ₹1,44,310 ₹1,32,290 ₹1,08,270
Mumbai ₹1,44,160 ₹1,32,140 ₹1,08,120
Kolkata ₹1,44,160 ₹1,32,140 ₹1,08,120
Chennai ₹1,44,160 ₹1,32,140 ₹1,08,120
Bengaluru ₹1,44,160 ₹1,32,140 ₹1,08,120
Hyderabad ₹1,44,160 ₹1,32,140 ₹1,08,120
Lucknow ₹1,44,310 ₹1,32,290 ₹1,08,270
Patna ₹1,44,210 ₹1,32,190 ₹1,08,170
Jaipur ₹1,44,310 ₹1,32,290 ₹1,08,270
Ahmedabad ₹1,44,210 ₹1,32,190 ₹1,08,170
Silver Prices Drop After Two Days of Stability
As for silver, prices have fallen for the second consecutive day today following two days of stability. Over these two days, the price of one kilogram of silver has dropped by ₹5,100. Prior to two days of stability, the price of one kilogram of silver had risen by ₹5,000 on June 25 and subsequently dropped by ₹5,000 on July 24. As for today, the price of a kilogram of silver in Delhi has decreased by ₹100, bringing it to ₹2,34,900. It is trading at this same rate in other major metropolitan cities like Mumbai, Kolkata, and Chennai.
What will the market focus on now?
According to Pranav Mer, Senior Vice President at JM Financial Services, the market will now keep a close watch on the situation in West Asia. Additionally, inflation data from the Eurozone, Japan, and the US will be crucial. He noted that US GDP figures are due for release, as is data on consumer confidence. Weekly jobless claims figures will also be significant. Furthermore, interest rate decisions by the Federal Reserve, the Bank of England, and the Bank of Japan could determine the future trajectory of gold and silver prices.
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