Gold Rates Of India Alert: 24K, 22K, 18K Gold Prices Outlook For July 27-31; How Fed Policy Will Impact?

24 carat gold price stood at Rs 1,44,930 per 10 grams, at Rs 14,49,300 per 100 grams, at Rs 1,15,944 per 8 grams and at Rs 14,493 per 1 gram.

While 22 carat gold price stood at Rs 13,28,500 per 100 grams, at Rs 1,32,850 per 10 grams, at Rs 1,06,280 per 8 grams and at Rs 13,285 per 1 gram.

Also, 18 carat gold rate stood at Rs 10.87 lakh per 100 grams, at Rs 1,08,700 per 10 grams, at Rs 86,960 per 8 grams and at Rs 10,870 per 1 gram.

Silver Rates In India Today

Just like gold, silver rates are unchanged at Rs 2.40 lakh per 1Kg, at Rs 24,000 per 100 grams, at Rs 2,400 per 10 grams, at Rs 1,920 per 8 grams and at Rs 240 per 1 gram.

"Gold and Silver witnessed a volatile trading week, with Gold ending nearly 1% higher and Silver gaining more than 1.5% on a weekly basis. The precious metals complex was influenced by heightened geopolitical tensions, rising crude oil prices, and evolving expectations surrounding global central bank policy," as per analysts at SMC Global Securities.

MCX Gold Price + MCX Silver Price

MCX gold price closed last week at Rs 1,43,066 per 10 grams, while MCX silver price stood at Rs 2,22,301 per 1Kg. Both the metals were in green, however, witnessed a volatile to bearish trend throughout the week.

Spot Gold Price + Spot Silver Price

Spot gold price is around $4,050 per pounce after a relentless selling pressure last week. Investors are monitoring the Middle East conflict and its impact on global economy, alongside US Fed's rates decisions. Furthermore, spot silver price stood around $58 per ounce by the end of July 24th.

Brent crude oil climbed back above $100 per barrel after U.S. President Donald Trump warned of expanded military action against Iran and vowed to hold Tehran responsible for any future Houthi attacks on commercial shipping in the Red Sea.

"The surge in oil prices intensified inflation concerns, strengthening expectations that major central banks may need to maintain a restrictive monetary policy for longer," analysts at SMC added in their note.

How Fed Policy Will Impact Yellow Metal?

According to the analysts, market participants are now focused on next week's U.S. Federal Reserve policy meeting, where rates are widely expected to remain unchanged. However, futures markets continue to price in a 34% probability of a rate hike in the upcoming meeting, while the probability of a September hike remains above 80%, reflecting persistent inflation concerns.

Adding to market uncertainty, the U.S. imposed fresh tariffs of 10%-12.5% on imports from several major trading partners, while the ECB kept interest rates unchanged but indicated that another rate increase in September remains possible if inflation persists.

Gold & Silver Next Week Target Prices:

From a technical perspective, analysts at SMC said, COMEX Gold is finding support near $3,980 with immediate resistance around $4,200. A decisive break below $3,980 could open the door for a decline toward $3,850. COMEX Silver is expected to trade within a broad $50-64 range. Gold is likely to trade between Rs 1,37,500-1,44,000, while MCX Silver may remain within Rs 2,05,000-2,28,000 in the coming week.

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