Archive · 31 Jul 2026
Gold, Silver Prices Rise Amid Profit Booking and Geopolitical Tensions
Gold and silver are precious metals that people buy and sell.
On July 31, the price of gold in cities like Delhi and Mumbai was about 1.4 lakh rupees for 10 grams.
Silver was around 2.35 lakh rupees per kilogram.
Prices went down a little because traders were taking profits after a big rise the day before.
The Middle East had a fight that made oil and gold more expensive, and the US dollar got stronger, which made gold cost more for people outside India.
Even though the US kept its interest rates the same, inflation was easing a bit, but higher energy costs could keep it up.
Gold prices in Delhi, Mumbai, Chennai, Hyderabad, and Kolkata hovered around ₹1.40‑1.44 lakh per 10 grams on July 31.
MCX gold fell on Friday due to profit booking after a Thursday rally, despite safe‑haven demand.
Middle East tensions, including Jordan intercepting Iranian missiles, kept oil and gold prices elevated.
The US dollar index rose 0.4%, making dollar‑denominated gold pricier for foreign buyers.
US Federal Reserve left rates unchanged, but inflation data showed modest easing, with PCE at 3.7% annually.
- Who
- Gold and silver traders, analysts, and investors in India
- What
- Gold and silver prices in major Indian cities and on the MCX exchange
- When
- July 31, 2024
- Where
- India (Delhi, Mumbai, Chennai, Hyderabad, Kolkata) and global markets
- Why
- Profit booking after a rally, safe‑haven demand amid Middle East tensions, and a stronger US dollar
- Gold price (Delhi 24K)
- ₹13,997 per gram
- Gold price (Delhi 22K)
- ₹13,330 per gram
- Silver price (Delhi)
- ₹235 per gram
- MCX Gold price
- ₹1.42 lakh per 10 grams
- US Dollar Index change
- +0.4%
- PCE inflation (annual)
- 3.7%
- Brent crude price
- $88 per barrel