Gold Price Today (July 31, 2026): Check 18K, 22K, 24K Gold and Silver Rates Across Delhi, Mumbai, Chennai and More

Gold prices in India moved higher on July 31, 2026. According to GoodReturns, as of around 10:00 AM IST, 24-carat gold was priced at ₹14,460 per gram, up ₹27 from the previous day. 22-carat gold climbed ₹25 to ₹13,255 per gram, while 18-carat gold gained ₹20 to ₹10,845 per gram. Silver prices, however, remained unchanged. The white metal was trading at ₹235 per gram or ₹2,35,000 per kilogram, showing no change from Thursday’s levels.

MCX Update: Gold and Silver Futures Slip

Despite higher retail prices in India, precious metal futures traded lower on the Multi Commodity Exchange (MCX).

• Gold August Futures (5 August expiry) traded at ₹1,42,490 per 10 grams, down ₹742 or 0.52 percent.

• Silver Futures traded at ₹2,19,116 per kilogram, down ₹851 or 0.39 percent.

The decline suggests traders booked profits after recent gains, even as physical gold prices stayed firm.

Why Did Gold Prices Move Today?

Gold prices declined globally Friday as some investors took profit and the US dollar regained ground after falling sharply the previous day.

As reported by Reuters, spot gold dropped slightly by 0.6 percent, while COMEX gold was priced at $4,134.80 per ounce, declining 0.62 percent. COMEX silver also declined 0.56 percent, selling at $58.69 per ounce.

The rise in the US dollar strengthened gold and increased the price for investors outside the United States since it became more expensive in other currency. Meanwhile, investors were purchasing gold whenever the metal reached the price level of $4,000, which allowed gold to continue its upward movement toward gaining price in its first month in five months.

The Federal Reserve decided not to change interest rates recently. Market participants will now wait for economic figures and the next decision of the Fed on interest rates in the future. The rise in interest rates usually discourages gold investment because gold does not bring interest. Tensions in the Middle East also continued to attract attention after the report about the drone attack close to the Damietta port of Egypt.

How Does the Rupee Affect Gold Prices?

The exchange rate for US dollars was about ₹95.37 per USD as of Friday morning. Gold is an import commodity for India, and its pricing is done in terms of US dollars. Therefore, whenever the US dollar continues to perform well relative to the Indian currency, importing gold gets costlier. Consequently, the price of gold rises domestically regardless of any changes in global prices.

Why Are Indian Gold Prices Different From Global Prices?

In addition to the cost of gold internationally, the retail price of gold in India is also determined by the duties levied at customs along with the cost of transportation and local taxes. Consumers buying jewellery items also incur making charges, which differ from jeweller to jeweller.

Gold Prices in Major Indian Cities

Among major cities, Delhi recorded the highest gold prices, while most other cities traded at similar levels.

(Source: Good Returns)

Weekly Trend: Gold Still Near Record Levels

There have been some wild fluctuations of gold in the last one week. There was a drop in the value of gold in the beginning of the week, but it regained its price for the last two days. Gold of 24 carats has been fluctuating from ₹14,586 per gram on July 27 to ₹14,460 per gram today.

Silver has shown steady prices in the last three days of ₹2,35,000 per kilogram, after dropping from ₹2,40,000 per kilogram.

Silver Prices in Major Indian Cities

Silver prices were unchanged across major cities.

(Source: Good Returns)

Dubai Gold Rates Today

Gold prices in Dubai remained lower than retail prices in India. This is mainly because the UAE has lower taxes, competitive making charges and a large gold trading market. The conversion below uses 1 AED = ₹25.92.

(Source: Khaleej Times)

What Should Buyers Watch Next?

The markets will be looking out for any information regarding US inflation numbers and statements made by members of the Federal Reserve regarding the future direction of interest rates. There is also the matter of the US dollar and oil prices, as well as what goes on in the Middle East and at COMEX, all of which may affect the price of gold.

(Disclaimer: This article is for informational purposes only and should not be considered investment advice. The views, opinions, and recommendations expressed herein are those of the respective experts. Readers are advised to consult a qualified financial advisor before making any investment decisions.)

Also Read: RBI’s New FD Rule From October: Will Banks Still Be Able To Offer Better Interest Rates?