India's Gold and Silver Prices Soar on Global Economic Uncertainty

Gold and silver prices in India continued their upward trend on July 31 due to global economic uncertainty and geopolitical tensions. According to the latest bullion data, the average price of 24-carat gold stood at Rs 1,44,950 per 10 grams, while 22-carat gold was priced at Rs 1,32,871 per 10 grams.

Silver (999 fine) traded above Rs 2.19 lakh per kilogram in major Indian cities, reflecting sustained demand for the white metal alongside gold. The precious metals market has witnessed strong buying interest in recent months, supported by safe-haven demand and expectations around global interest rates and geopolitical developments.

Market experts advise buyers to compare prices across jewellers, verify BIS hallmark certification for gold jewellery and check the purity of silver before making purchases. Final retail prices may differ from bullion rates after adding Goods and Services Tax (GST), making charges and other local levies.