Gold and Silver Prices in India on July 31, 2024: Prices dip in 4 major cities in last week

On July 31, 2024, the rate for 24-carat gold in India was recorded at ₹68,820 per 10 grams, translating to ₹6,882 per gram. Meanwhile, the price for 22-carat gold stood at ₹63,085 for the same weight. 

Since the last week, the price of 24-carat gold has seen a decline of 0.4%, while over the last ten days, the rate has dropped by a substantial 6%. Silver prices also dipped, currently quoted at ₹827 for 10 grams.

Gold prices in big 4s:

- Mumbai: In Mumbai, gold was priced at ₹68,820 per 10 grams on July 31, up from ₹68,440 on July 30, but down from ₹69,120 on July 24. The silver rate in the city was ₹82,700 per kilogram, compared to ₹81,270 on July 30 and ₹84,770 a week earlier.

- Delhi: In the national capital, gold was priced at ₹68,710 per 10 grams, slightly higher than ₹68,330 on July 30, but lower than ₹69,000 on July 24. The silver price in Delhi was recorded at ₹82,560 per kg on July 31, down from ₹81,130 on July 30 and much lower than ₹85,180 a week ago.

- Kolkata: The rate for 24-carat gold in Kolkata was ₹68,730 per 10 grams, an increase from ₹68,350 on July 30, but a decrease from ₹69,020 last week. Silver was priced at ₹82,590 per kg on July 31, up from ₹81,160 the previous day and down from ₹84,660 a week earlier.

- Chennai: In Chennai, the gold rate remained at ₹69,020 per 10 grams on July 31, up from ₹68,640 the day prior, but down from ₹69,320 last week. Silver prices were slightly higher at ₹82,940 per kg on July 31, compared to ₹81,510 on July 30 and down from ₹85,020 a week earlier.

Futures Market Performance
On the Multi Commodity Exchange (MCX) on July 31, both gold and silver prices experienced a rise.

Gold futures for October 4, 2024, climbed to ₹69,457 per 10 grams, reflecting a gain of ₹279 or 0.40% from the previous close of ₹69,178. Silver futures for September 5, 2024, witnessed a rise of ₹599 or 0.72%, trading at ₹83,258 per kg, compared to the previous close of ₹82,659.