Indian Gold Prices Rise Amid Global Downward Pressure
Gold prices in India have seen a mixed market trend on July 31, 2026. Despite the downward pressure in the foreign market, gold rates in India saw an increase. The rate for 24K gold in Delhi was reported to be ₹14,475 per gram, that of 22K gold was ₹13,270 per gram, and 18K gold was ₹10,860.
The daily movement was positive across all three purity levels. In fact, Delhi's 24K gold has risen by 2.71% during July. The monthly high for 24K gold was ₹14,742, while the low was ₹14,093. Gold was trading at $4,036.17 per ounce on this day.
The relationship between higher US interest rates and gold prices is not automatic. Inflation expectations, geopolitical uncertainty, central-bank demand, and currency movements can offset the impact of higher rates. For Indian buyers, the rupee-dollar exchange rate is particularly important.