Indian Gold Prices Hit New Highs Amid Ongoing Interest and Geopolitical Tensions
Gold prices in India continued their upward trend on July 30, with rates increasing across various purities. According to market data, 24-carat gold (99.9% purity) is now priced at ₹14,433 per gram, up ₹82 from the previous session. Similarly, 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 prices remained largely uniform across major cities in India, with Chennai reporting a slightly higher rate for 18-carat gold at ₹11,045 per gram. Delhi continued to trade above the national average, with 24-carat gold priced at ₹14,448 per gram and 22-carat gold at ₹13,245.
The Multi Commodity Exchange (MCX) witnessed volatility in gold futures after the US Federal Reserve kept interest rates unchanged. Market participants are closely watching geopolitical developments in the Middle East, particularly those involving Iran, which could affect inflation expectations and oil prices.