India's Gold Prices Remain Unchanged as Global Cues Take Center Stage

Gold prices in India remained largely unchanged across major cities on July 31, with minor variations due to local taxes and market factors. In Mumbai, Kolkata, Bengaluru, Hyderabad, Kerala, and Pune, 24K gold was priced at Rs 14,434 per gram, while 22K gold was available for Rs 13,231 per gram. The price of 18K gold stood at Rs 10,826 per gram in these cities.

Delhi recorded the highest prices among the major cities, with 24K gold priced at Rs 14,449 per gram and 22K gold at Rs 13,246 per gram. Ahmedabad and Vadodara followed closely, where 24K gold was priced at Rs 14,439 per gram and 22K gold at Rs 13,236 per gram.

Gold futures on the Multi Commodity Exchange (MCX) traded lower on July 31, with prices slipping 0.62% to Rs 1,43,935 per 10 grams due to profit-booking and a stronger US dollar. Silver futures also declined by 0.49% to Rs 2,18,888 per kg.

Market participants are likely to watch global cues, including the US dollar's movement, Treasury yields, and upcoming macroeconomic data, for further direction in precious metal prices.