Indian Gold Prices Soar to ₹14,460 Per Gram on July 31
Gold prices rose on July 31 in India, with 24K gold reaching ₹14,460 per gram. The price of 22K gold increased by ₹25 to ₹13,255 per gram from ₹13,230, while 18K gold gained ₹20 to ₹10,845 per gram from ₹10,825.
The continued upward movement in bullion prices has kept the market firm, with buyers and investors closely tracking the latest trend. The prices of gold are influenced by a combination of domestic and global factors, including international gold prices, currency movements, inflation, and interest rate expectations.
When global gold prices rise or fall, domestic prices usually follow the same trend. A weaker rupee makes gold imports more expensive, pushing up prices, while a stronger rupee can help keep prices lower. Global events such as geopolitical tensions, wars, economic uncertainty, and changes in investor sentiment can also drive gold prices higher.