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Gold Price Today, August 1: In Mumbai, the price of gold stands at Rs 91,690 per 10 grams for 22-carat and Rs 1,00,020 per 10 grams for 24-carat.
Gold Price Today, August 1.
Gold, Silver Prices In India Today, August 1: Gold and silver prices decline on Friday as pressure from a stronger dollar outweighed support from trade uncertainty caused by US tariffs. In Mumbai, the price of gold stood at Rs 91,690 per 10 grams for 22-carat and Rs 1,00,020 per 10 grams for 24-carat.
Silver fell by Rs 100 to Rs 1,14,900 per kg.
In the futures market on the MCX, gold futures (expiring on August 5, 2025) were trading lower by 0.24% at Rs 98,530 per 10 gram, while silver (expiring on September 5, 2025) fell by 0.17% to trade at Rs 1,09,783 per kg.
What Is The Price Of 22kt, 24kt Gold Rates Today In India Across Key Cities On August 1?
| City | 22K Gold (per 10gm) | 24K Gold (per 10gm) |
|---|---|---|
| Delhi | Rs 91,840 | Rs 1,00,170 |
| Jaipur | Rs 91,840 | Rs 1,00,170 |
| Ahmedabad | Rs 91,740 | Rs 1,00,070 |
| Patna | Rs 91,740 | Rs 1,00,070 |
| Mumbai | Rs 91,690 | Rs 1,00,020 |
| Hyderabad | Rs 91,690 | Rs 1,00,020 |
| Chennai | Rs 91,690 | Rs 1,00,020 |
| Bengaluru | Rs 91,690 | Rs 1,00,020 |
| Kolkata | Rs 91,690 | Rs 1,00,020 |
International Gold Prices
In the international market, gold traded flat on Friday, but were on track for a weekly loss as pressure from a stronger dollar outweighed support from trade uncertainty caused by US tariffs.
US spot gold was steady at $3,287.65 per ounce, as of 0242 GMT. Bullion is down 1.5% so far this week. US gold futures eased 0.3% to $3,337.20.
The dollar index hit its highest level since May 29, making gold more expensive for other currency holders.
The Fed held interest rates steady in the 4.25%-4.50% range on Wednesday and dampened hopes for a September rate cut.
Trump signed an executive order on Thursday imposing “reciprocal” tariffs ranging from 10% to 41% on imports from dozens of countries and foreign locations ahead of a Friday trade deal deadline.
He increased duties on Canadian goods to 35% from 25% for all products not covered by the US-Mexico-Canada trade agreement, but gave Mexico a 90-day reprieve to negotiate a broader deal.
Meanwhile, US inflation increased in June as tariffs on imports started raising the cost of some goods.
Focus now shifts to US jobs data due later in the day for more cues on Federal Reserve’s rate-cut path.
Gold thrives in a low-interest rate environment as it is a non-yielding asset.
What Factors Affect Gold Prices In India?
International market rates, import duties, taxes, and fluctuations in exchange rates primarily influence gold prices in India. Together, these factors determine the daily gold rates across the country.
In India, gold is deeply cultural and financial. It is a preferred investment option and is key to celebrations, particularly weddings and festivals.
With constantly changing market conditions, investors and traders monitor fluctuations closely. Staying updated is crucial for effectively navigating dynamic trends.
(With Inputs from Reuters)
Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to personal finance, markets, economy and companies. Having over a decade of experience in financial journalism, Haris h…Read More
Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to personal finance, markets, economy and companies. Having over a decade of experience in financial journalism, Haris h… Read More
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