Gold Prices Dip In India Today, 29th July: 24K & 22K Plunge Over Rs 1,000/100 g Overnight; Silver Stable

On Tuesday, July 29, gold prices in India fell sharply as economic and geopolitical events weakened the metal's allure as a safe haven. The lessening of trade tensions throughout the globe, especially with new trade deals between the US and the EU and Japan, is primarily responsible for these drops. Due to the news of a new US-EU trade agreement that lowers the 15% tariff on EU goods, bullion fell more than 2% globally this week to about $3,317 per ounce. Gold may gain momentum again amid the upcoming FOMC meeting, which is scheduled for July 30-31.

Gold & Silver Rates In India Today

On Tuesday, the price of gold in India is Rs 7,487 per gram for 18 carat gold, Rs 9,982 per gram for 24 carat gold, and Rs 9,150 per gram for 22 carat gold. Today 10 grams of 24k of gold rates dropped to Rs 99,820 in India, which was Rs 99,930 yesterday, representing a drop of Rs 110, similarly 24k of 100 grams of gold will cost Rs 9,98,200 in India on Tuesday, which was Rs 9,99,300 on Monday, representing a drop of Rs 1,100.

The price of 10 grams of 22 carat gold is Rs 91,500 today, down from Rs 91,600 yesterday. Similarly, the price of 100 grams of 22 carat gold is Rs 9,15,000 today, down from Rs 9,16,000 on Monday, a Rs 1,000 drop.

In India, the price of 18 carat gold per 10 grams is Rs 74,870 today, down from Rs 74,950 yesterday. Similarly, the price of 18k of 100 gms of gold is Rs 7,48,700 on Tuesday, down from Rs 7,49,500 on Monday, indicating an Rs 800 drop in the price.

The price of silver in India today is steady at Rs 116 per gram and Rs 1,16,000 per kilogram. Over the last 10 days, the price of silver in India has been somewhat steady, with the price per kilogram remaining at Rs 1,16,000 on July 29, 2025, unchanged from the previous two days (July 28 and 27).

MCX Gold Outlook Today

"On the technical front, MCX Gold has seen a sharp correction over the last couple of sessions and is currently trading near its 50-day EMA support zone. The immediate trend remains down, while the broader trend is neutral. Support is currently placed at 97,000, and resistance will be seen at 98,270-98,600-99,150. Traders can consider buying MCX Gold near 97,000 for targets of 98,270, 98,600, and 99,150. Any close below 96,740 will warrant a review of the current outlook," commented Abhishek M Pelu - Research Analyst at Way2Wealth Brokers.

Gold & Silver Price Fundamental Outlook Today

"Gold and silver prices are trading slightly higher today on the international bourses. We expect precious metals prices on Indian bourses to trade range bound to slightly higher for the day; as gold prices held a decline after the dollar rose the most since May following a tariff deal between the US and the European Union, with investors now focusing on prospects for an extension of a trade truce between Washington and Beijing," commented the research analysts of Nirmal Bang Securities.

Disclaimer

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