Gold Prices India, July 26: Check Latest Yellow Metal Prices After Record Fall In July, Buy?

Gold price in India today stayed steady after witnessing record fall in the month of July. Gold prices declined after FM Nirmala Sitharaman announced a cut in customs duty on gold and silver to 6%. 10 grams of 22k gold prices fell by massive Rs 3800 from July 22, 2024 to July 25, 2024. The decline in gold prices offered an attractive opportunity to buyers as they remained largely away from buying yellow metal due to high prices of the precious metal. 22k gold prices today in India stood at Rs 64,000/10 grams and 100 grams of 22 carat yellow metal prices stood at Rs 6,40,000 on July 26, 2024.

24k gold prices today in India remained unchanged at Rs 69,820/10 grams and 100 grams of 24 carat yellow metal prices today in the country registered at Rs 6,98,200. Meanwhile, 18K gold prices too remained steady in India today at Rs 52,370/10 grams and 100 grams of 18 carat precious metal prices in India today are retailing at Rs 5,23,700.

1 gm gold prices in India on July 1, 2024 was recorded at Rs 6625 and today (July 26, 2024) the prices have come down to Rs 6,400, indicating a decline of 3.4% in just last 26 days.

Rahul Kalantri, VP of Commodities at Mehta Equities Ltd, said, "We have seen sharp declines in gold and silver prices in Asian markets due to increased economic concerns in China. However, potential Federal Reserve rate cuts in September could offer some support for prices."

Meanwhile, US Gold prices rallied on Friday, but stayed on track for a weekly loss as traders awaited US inflation data for further hints on Federal Reserve's interest rate cuts trajectory.

Jigar Trivedi, Senior Research Analyst at Reliance Securities, said, "The 50% retracement level for gold is around Rs 65,800 per 10 grams, which is a major support level for now. After a period of consolidation, gold prices made a decisive move in July. While a pullback is possible, the overall outlook appears weak."

Despite these challenges, Jigar Trivedi feels that the festive season buying, a weak dollar, uncertainty surrounding the US elections, and potential rate cuts by the US Federal Reserve may provide some short-term support for gold prices.

Spot Gold, Spot Silver Prices Today: Spot gold surged 0.2% at $2,368.89 per ounce, as of 0142 GMT, but remained down over 1% for the week. US gold futures soared 0.5% to $2,364.10. Spot silver stayed flat at $27.96 per ounce, platinum jumped 0.6% to $938.95 and palladium rallied 0.5% to $911.50, according to Reuters.

Silver Prices Today In India: Silver prices in India today remained steady too and currently stood at Rs 84,500/kg and 100 grams of silver prices in the country are retailing at Rs 8,450.

22k/10 Grams Gold Price Movement In Last 10-Days In India

Gold prices in India today remained steady, fell sharply by Rs 950 on July 25, remained stable on July 24, fell steeply by Rs 2750 on July 23, slipped by Rs 100 on July 22, remained unchanged on July 21, declined by Rs 350 on July 20, fell by Rs 450 on July 19, declined again by Rs 150 on July 18, jumped by Rs 900 on July 17, and surged by Rs 350 on July 16.

1kg Silver price India movement in last 10-days

Silver price in India today stayed unchanged, registered steep decline of Rs 3000 on July 25, declined by Rs 500 on July 24, fell by Rs 3,500 on July 23, remained steady on July 22, stayed unchanged on July 21, declined by Rs 1750 on July 20, witnessed sharp decline of Rs 1450 on July 19, slipped again by Rs 1300 on July 18, jumped by Rs 1000 on July 17, declined by Rs 200 on July 16, and slipped by Rs 300 on July 15.

1 Gram of 22k Gold Rate In 5 Major Metropolitan Cities Of India On July 26, 2024:

Gold Price Chennai: Price of 1 gram of 22 carat of gold price Chennai today is Rs 6,415

Yellow Metal Price Mumbai: Price of 1 gram of 22 carat gold in Mumbai on July 26 is Rs 6,400

Precious Metal Price Delhi: Price of 1 gram of 22 carat yellow metal in Delhi on July 26 is Rs 6,415

Gold Price Kolkata: Price of 1 gram of 22 carat of yellow metal in Kolkata on July 26, 2024 is Rs 6,400

Gold Price Kerala: Cost of 1 gram of 22K gold in Kerala on July 26 is Rs 6,400

Yellow Metal Price Bangalore: Price of 1 gram of 22 carat gold in Bangalore on July 26 is Rs 6,400