24K Gold rate on Aug 1: Gold prices range from ₹1.47 lakh to ₹1.48 lakh; silver holds near ₹2.35 lakh/kg
Gold prices remained elevated across major Indian cities on August 1, with 24-karat gold trading between ₹1.47 lakh and ₹1.48 lakh per 10 grams despite weakness in global bullion markets. Silver prices stayed largely unchanged at around ₹2.35 lakh per kg in Delhi, while investors tracked the US Fed's policy outlook and geopolitical tensions.
- Aug 1, 2026,
- Updated Aug 1, 2026 9:48 AM IST
Gold and silver prices remained volatile on the Multi Commodity Exchange (MCX) on the last trading day of July, tracking weakness in global bullion markets despite continued geopolitical tensions in West Asia. Domestic bullion prices, however, continued to hover near record levels, supported by elevated global prices and a weaker rupee.
MCX gold futures slipped on Friday to around ₹1,42,600 per 10 grams, while MCX silver futures traded near ₹2,19,200 per kg. In the international market, spot gold and spot silver were down about 1% each, trading around $4,075 per ounce and $58.4 per ounce, respectively.
The decline came even as crude oil prices corrected sharply. US WTI crude fell nearly 3% to below $81.50 per barrel, while Brent crude slipped over 2.3% below $85 per barrel. Gasoline futures also weakened, although copper and natural gas futures gained around 1%.
Market participants remain focused on the US Federal Reserve's policy outlook after the central bank kept interest rates unchanged this week. While the Fed refrained from raising rates, persistent inflation concerns and rising energy prices have strengthened expectations that policymakers could tighten monetary policy later this year. According to market pricing, there is roughly a 63% probability of a Fed rate hike in September.
MUST READ: Gold, silver prices today: Delhi, Mumbai, Chennai, Hyderabad, Kolkata rates; MCX gold at ₹1.42 lakh
Meanwhile, geopolitical risks continue to underpin demand for safe-haven assets. Fresh US military strikes on Iranian targets following attacks on American assets in the Middle East have heightened uncertainty. However, analysts note that gold has remained under pressure since the escalation of the US-Iran conflict earlier this year, as higher oil prices have fuelled inflation expectations and supported the US dollar, limiting bullion's upside.
Gold rates in Delhi
Retail gold prices in Delhi edged higher on August 1.
| Gold Purity | Price |
|---|---|
| 24K (1 gram) | ₹14,023 |
| 22K (1 gram) | ₹13,355 |
| 24K (10 grams) | ₹1,40,230 |
| 22K (10 grams) | ₹1,33,550 |
Twenty-four karat gold is generally purchased for investment purposes such as digital gold and bullion, while jewellery is predominantly made from 22-karat gold due to its greater durability.
MUST READ: Gold's volatility shifts focus to guaranteed returns as non-par life insurance gains traction
Gold prices across major cities (24K, 10 grams)
| City | Price |
|---|---|
| Chennai | ₹1,48,574 |
| Hyderabad | ₹1,48,574 |
| Bangalore | ₹1,48,431 |
| Kolkata | ₹1,48,431 |
| Delhi | ₹1,47,931 |
Gold prices in Delhi have remained firm through July. The highest 24-karat rate during the month touched ₹14,280 per gram, while the lowest stood at ₹13,655 per gram, reflecting an overall upward trend.
Silver prices in Delhi
Silver prices remained unchanged on August 1 at ₹235 per gram, or ₹2,35,000 per kg.
| Metric | Price |
|---|---|
| 1 gram | ₹235 |
| 10 grams | ₹2,350 |
| 100 grams | ₹23,500 |
| 1 kg | ₹2,35,000 |
Over the past 10 days, silver prices have softened from ₹2,450 per 10 grams recorded on July 23 to ₹2,350 per 10 grams, indicating a modest correction after a sharp rally earlier in the month. Analysts expect bullion prices to remain sensitive to upcoming US inflation data, Federal Reserve commentary, movements in the US dollar and further geopolitical developments in West Asia.
MUST READ: Indians spent Rs 65,000 crore more on gold in Q2 despite buying less. Here's why
Gold and silver prices remained volatile on the Multi Commodity Exchange (MCX) on the last trading day of July, tracking weakness in global bullion markets despite continued geopolitical tensions in West Asia. Domestic bullion prices, however, continued to hover near record levels, supported by elevated global prices and a weaker rupee.
MCX gold futures slipped on Friday to around ₹1,42,600 per 10 grams, while MCX silver futures traded near ₹2,19,200 per kg. In the international market, spot gold and spot silver were down about 1% each, trading around $4,075 per ounce and $58.4 per ounce, respectively.
The decline came even as crude oil prices corrected sharply. US WTI crude fell nearly 3% to below $81.50 per barrel, while Brent crude slipped over 2.3% below $85 per barrel. Gasoline futures also weakened, although copper and natural gas futures gained around 1%.
Market participants remain focused on the US Federal Reserve's policy outlook after the central bank kept interest rates unchanged this week. While the Fed refrained from raising rates, persistent inflation concerns and rising energy prices have strengthened expectations that policymakers could tighten monetary policy later this year. According to market pricing, there is roughly a 63% probability of a Fed rate hike in September.
MUST READ: Gold, silver prices today: Delhi, Mumbai, Chennai, Hyderabad, Kolkata rates; MCX gold at ₹1.42 lakh
Meanwhile, geopolitical risks continue to underpin demand for safe-haven assets. Fresh US military strikes on Iranian targets following attacks on American assets in the Middle East have heightened uncertainty. However, analysts note that gold has remained under pressure since the escalation of the US-Iran conflict earlier this year, as higher oil prices have fuelled inflation expectations and supported the US dollar, limiting bullion's upside.
Gold rates in Delhi
Retail gold prices in Delhi edged higher on August 1.
| Gold Purity | Price |
|---|---|
| 24K (1 gram) | ₹14,023 |
| 22K (1 gram) | ₹13,355 |
| 24K (10 grams) | ₹1,40,230 |
| 22K (10 grams) | ₹1,33,550 |
Twenty-four karat gold is generally purchased for investment purposes such as digital gold and bullion, while jewellery is predominantly made from 22-karat gold due to its greater durability.
MUST READ: Gold's volatility shifts focus to guaranteed returns as non-par life insurance gains traction
Gold prices across major cities (24K, 10 grams)
| City | Price |
|---|---|
| Chennai | ₹1,48,574 |
| Hyderabad | ₹1,48,574 |
| Bangalore | ₹1,48,431 |
| Kolkata | ₹1,48,431 |
| Delhi | ₹1,47,931 |
Gold prices in Delhi have remained firm through July. The highest 24-karat rate during the month touched ₹14,280 per gram, while the lowest stood at ₹13,655 per gram, reflecting an overall upward trend.
Silver prices in Delhi
Silver prices remained unchanged on August 1 at ₹235 per gram, or ₹2,35,000 per kg.
| Metric | Price |
|---|---|
| 1 gram | ₹235 |
| 10 grams | ₹2,350 |
| 100 grams | ₹23,500 |
| 1 kg | ₹2,35,000 |
Over the past 10 days, silver prices have softened from ₹2,450 per 10 grams recorded on July 23 to ₹2,350 per 10 grams, indicating a modest correction after a sharp rally earlier in the month. Analysts expect bullion prices to remain sensitive to upcoming US inflation data, Federal Reserve commentary, movements in the US dollar and further geopolitical developments in West Asia.
MUST READ: Indians spent Rs 65,000 crore more on gold in Q2 despite buying less. Here's why