Gold Rate Today Steady on August 2 After Slight Drop; Will Bullion Prices Rebound in August? Check Forecast

22 Karat Gold Rate Today in India

The rate of 22K gold today is Rs 13,220 per gram. The price of 8 grams stands at Rs 1,05,760, whereas 10 grams costs Rs 1,32,200. Buyers looking to purchase larger quantities will have to pay Rs 13,22,000 for 100 grams of 22K gold. Containing 91.6% pure gold, 22K is widely used for making jewellery due to its durability and strength.

18K Gold Rate Today in India

The price of 18K gold is quoted at Rs 10,816 per gram today. Accordingly, 8 grams of 18K gold is priced at Rs 86,528, while 10 grams costs Rs 1,08,160. The rate for 100 grams stands at Rs 10,81,600. With 75% pure gold mixed with other metals, 18K gold is a popular choice for contemporary and diamond-studded jewellery because of its added durability and affordability.

Silver Rate Today: Check Latest Silver Prices Per Kg and Grams on August 2, 2026

Silver prices in India remained unchanged today, with the precious metal trading at Rs 235 per gram, the same level as the previous session. Buyers looking for smaller quantities will have to pay Rs 1,880 for 8 grams and Rs 2,350 for 10 grams, with no change in prices compared with yesterday.

For larger purchases, 100 grams of silver is priced at Rs 23,500, while 1 kilogram (1,000 grams) continues to trade at Rs 2,35,000.

Gold Price Forecast for August 2026

The recent weakness in precious metals has largely been driven by the US Federal Reserve's hawkish stance on interest rates. However, market analysts suggest that the Fed's tough tone is being influenced more by elevated crude oil prices than by an overheating economy.

According to Kitco's Weekly Chart, higher energy prices are keeping inflation elevated, prompting the Fed to maintain a restrictive policy stance. While inflation driven by strong economic growth may justify higher interest rates, inflation caused by rising oil prices primarily acts as a cost burden on an economy that may already be losing momentum. This has weighed on investor sentiment towards gold and silver, limiting any meaningful recovery in bullion prices.

"We think September could be the 2026 version of that moment. Gold has already taken a roughly 30% haircut from its highs, silver collapsed from over $120 down to the $50s, and both are sitting on oversold technical conditions with sellers largely spent," stated Kitco report.

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