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Gold prices in India fell slightly on July 28, trading around Rs 1 lakh per 10 gram for 24 carat. Silver also saw a marginal decline, trading at Rs 1,15,900 per kg in Mumbai.
Gold Prices Today, July 28.
Gold, Silver Prices In India Today, July 28: Gold prices fell slightly on Monday morning to trade around Rs 1 lakh-mark per 10 gram for 24 carat ahead of Trump’s August 1 deadline for new tariffs. Silver also saw a marginal decline to trade at Rs 1,16,000 per kg.
In Mumbai, gold was trading at Rs 1,00,070 per 10 gram for 24-carat and Rs 91,740 per 10 gram for 22-carat.
Silver, on the other hand, was trading at Rs 1,15,900 per kg.
The precious metals are recently being boosted by a solidly lower U.S. dollar index and a decline in U.S. Treasury yields. The U.S. trade tariff uncertainty is supported safe-haven buying for precious metals once again, explains analyst.
However, in the futures market on the MCX, gold futures (expiring on August 5, 2025) were trading marginally higher by 0.14% at Rs 97,953 per 10 gram, whereas silver (expiring on September 5, 2025) traded flat at Rs 1,13,094 per kg.
What Is The Price Of 22kt, 24kt Gold Rates Today In India Across Key Cities On July 28?
| City | 22K Gold (per 10gm) | 24K Gold (per 10gm) |
|---|---|---|
| Delhi | Rs 91,740 | Rs 1,00,070 |
| Jaipur | Rs 91,740 | Rs 1,00,070 |
| Ahmedabad | Rs 91,640 | Rs 99,970 |
| Patna | Rs 91,640 | Rs 99,970 |
| Mumbai | Rs 91,600 | Rs 99,930 |
| Hyderabad | Rs 91,600 | Rs 99,930 |
| Chennai | Rs 91,600 | Rs 99,930 |
| Bengaluru | Rs 91,600 | Rs 99,930 |
| Kolkata | Rs 91,600 | Rs 99,930 |
International Gold Prices
Investors are eyeing developments in trade negotiations ahead of U.S. President Donald Trump’s August 1 deadline, as U.S. Commerce Secretary Howard Lutnick remains optimistic about reaching a deal with the European Union.
Trump might visit China before going to the Asia-Pacific Economic Cooperation summit between October 30 and November 1, or he could meet Chinese leader Xi Jinping on the sidelines of the APEC event in South Korea, reports said.
At its meeting later this week, the European Central Bank is expected to hold interest rates steady at 2.0% following a string of cuts.
Last week, Federal Reserve Governor Christopher Waller said he still believes that the U.S. central bank should cut rates at its policy meeting next week.
Gold, often considered a safe-haven asset during economic uncertainties, tends to do well in a low interest rate environment.
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.
Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst…Read More
Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst… Read More
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