Gold Prices Rise Across India Amid Ongoing Interest

Gold prices have increased across India on July 30, with rates rising for all major purities amid continued interest in the precious metal. The latest retail rates show 24-carat gold (99.9% purity) at ₹14,433 per gram, up ₹82 from the previous session. 22-carat gold (91.6% purity) climbed ₹75 to ₹13,230 per gram, while 18-carat gold (75% purity) rose ₹62 to ₹10,825 per gram.

The MCX traded in a narrow range after the US Federal Reserve kept interest rates unchanged. For larger purchases, 8 grams of 24-carat gold costs ₹1,15,464, while 10 grams is priced at ₹1,44,330. A 100-gram purchase is valued at ₹14,43,300.

Market participants are watching developments that could influence gold prices in August. Analysts tracking precious metals say geopolitical developments in the Middle East, particularly the situation involving Iran, could affect inflation expectations, oil prices and the US dollar. Others expect gold to remain within a broad trading range through August before stronger momentum potentially emerges later in the year.