Gold and Silver Prices Today: Gold rise to Rs 98620, silver gains to Rs 1,13,460; city-wise rates inside

Gold prices witnessed a slight rise on Wednesday as lower US Treasury yields and a retreating dollar supported the precious metal ahead of the Federal Reserve’s key policy decision. On the Multi Commodity Exchange (MCX), gold futures for August delivery gained Rs 124 (0.13%), settling at Rs 98,620 per 10 grams. Silver futures for September delivery closed at Rs 1,13,460 per kilogram, up by Rs 103 (0.09%).

Manoj Jain, Director at India Nivesh, said:

“Gold and silver prices recovered from their lows following weaker US JOLTS job opening data for June, which came in at 7.44 million versus 7.77 million in May. Prices are also supported by expectations of possible monetary easing from the Fed, a weaker rupee, and rising crude oil prices. However, the dollar index’s five-week high limits the upside. Gold is likely to hold $3,280 per troy ounce, while silver could sustain $36.40 levels on a weekly closing basis. We suggest buying silver on dips near Rs 1,13,100 with a target of Rs 1,15,000.”

In global markets, gold futures settled 0.43% higher at $3,381.20 per troy ounce, while silver rose 0.18% to $38.287 per troy ounce. Spot gold climbed 0.1% to $3,328.65 per ounce as of 04:22 GMT, with US gold futures also gaining 0.1% to $3,326.10.

Kelvin Wong, Senior Market Analyst at OANDA, noted, “The Fed could lean slightly dovish, reflected in softer Treasury yields and easing dollar strength. If gold crosses $3,350 this week, upcoming US inflation and employment data could push prices higher in the short term.”

Meanwhile, silver held steady at $38.21 per ounce, platinum dropped 0.6% to $1,386.73, and palladium gained 0.5% to $1,265.07.

Dollar index and rupee movement

The dollar index hit a five-week high at 98.685 after the US signed a trade deal with the European Union, while US consumer confidence data and reduced trade deficits further supported the currency. The rupee weakened amid concerns over potential US tariffs and rising crude oil prices.

Outlook

Gold and silver are expected to remain volatile this week, influenced by the Fed’s monetary policy meeting, global market fluctuations, and trade tariff developments.

City-wise Gold Prices (per gram on July 30, 2025):

Gold Price in Mumbai:
In Mumbai, the price of 24-karat gold stood at Rs  10,048 per gram, while 22-karat gold was priced at Rs 9,210 per gram.

Gold Price in Delhi:
The national capital recorded 24K gold at Rs 10,048 per gram, with 22K gold available at Rs 9,225 per gram.

Gold Price in Chennai:
Gold rates in Chennai were slightly lower, with 24K gold at Rs 10,048 per gram and 22K gold at Rs 9,210 per gram.

Gold Price in Kolkata:
In Kolkata, 24-karat gold was priced at Rs 10,048 per gram, and 22-karat gold was selling at Rs 9,210 per gram.

Gold Price in Bengaluru:
Bengaluru saw 24K gold trading at Rs 10,048 per gram, while 22K gold was available at Rs 9,210 per gram.

Gold Price in Pune:
Pune saw 24K gold trading at Rs 10,048 per gram, while 22K gold was available at 9,210 per gram.