Gold Price Today in India: Check Gold rates in Delhi, Mumbai & other cities

New Delhi: Gold Price today in India (22 carat) declined to Rs 63,990 per 10 gram (gm) on Friday, July 26, 2024. While, the 24 carat gold price today stood at Rs 69,810 per 10 gm. On the other hand, the 18-carat yellow metal prices was quoted at Rs 52,360 per 10 gm. On the other hand, silver price today in India also fell by Rs 100 per unit to Rs 84,400 per kg, according to data from Good Returns.

Albeit, in the US, spot gold price was up 0.4 per cent at $2,374.14 per ounce, as quoted by Reuters. Prices had scaled to an all-time high of $2,483.60 last week.

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MCX Gold Rate

On the other hand, gold price today (August 05 2024 futures contract) was up 0.44 per cent to Rs 67,990 per 10 gm on the Multi Commodity Exchange (MCX). While, silver prices (September 05 2024 futures contract) were also up  0.05 per cent to Rs 81,662 per kg on the MCX today.

Gold and Silver prices in India today

Source: Good Returns

Gold Price Fall Reason

The yellow metal prices continued to fall for the  fourth consecutive day on Friday, July 26. The reason for the fall in Gold price is being attributed to the sharp reduction in import duty  as announced by the Finance Minister Nirmala Sitharaman in the Union Budget 2024. She had proposed to cut gold import duty from 15 per cent to 6 per cent. The decision has led to heavy selling by jewellers in India.

Commodity traders told news agency PTI that gold prices declined on persistent selling by local jewellers amidst weakening trend in the international markets too.

Pranav Mer, VP — Research (Commodity & Currency) at BlinkX and JM Financial, said, “Gold and silver prices are trading lower tracking broad selling across global financial markets, triggered by a sharp appreciation in the Japanese yen on rising bets of a rate hike by the Bank of Japan at its meeting next week, whereas other central banks are looking for rate cuts.”

Prices now are stuck in a range as we look ahead to US data on GDP and Personal Consumption Expenditures (PCE) price index inflation data, Mer added.

 Gold Price in India (22 carat) fell to Rs 63,990 per 10 gram (gm) for the fourth straight day on Friday, July 26, 2024.  Biz News Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today