Gold and Silver Rates Today: Gold falls to Rs 98,000, silver declines to Rs 1,09,700 – Check city-wise prices

Gold and silver prices slipped to four-week lows on Thursday, weighed down by a stronger US dollar and lingering tariff uncertainties. On the Multi Commodity Exchange (MCX), gold futures for August delivery fell by Rs 323 (0.33%) to settle at Rs 98,024 per 10 grams, while silver futures for September delivery declined by Rs 222 (0.20%) to Rs 1,09,750 per kilogram.

In the international market, spot gold rose 0.6% to $3,294.56 per ounce amid safe-haven buying ahead of the August 1 U.S. trade tariff deadline. U.S. gold futures, however, closed 0.1% lower at $3,348.6. Silver dropped 1.4% to $36.61 per ounce, its lowest level since July 7. Platinum and palladium also registered losses, falling to multi-week lows.

Manoj Jain, Director at India Nivesh, noted that volatility persisted as the dollar index hit a two-month high following stronger-than-expected U.S. GDP data and hawkish comments from the Federal Reserve, which held interest rates steady. “Gold and silver extended their fall amid dollar strength and fading hopes of a September rate cut. The market is likely to remain volatile ahead of U.S. job data and trade tariff uncertainties,” Jain said.

Support levels for gold are seen at $3,280 per ounce internationally and Rs 98,080 on MCX, with resistance at $3,370 and Rs 99,380 respectively. Silver has support at $36.40 per ounce globally and Rs 1,09,000 on MCX.

The rupee also weakened against the US dollar, closing at 87.7550 on the NSE after U.S. President Donald Trump threatened additional trade tariffs on India and Russian imports.

City-wise Gold Prices (per gram on August 1, 2025):

Gold Price in Mumbai:
In Mumbai, the price of 24-karat gold stood at Rs 9,982 per gram, while 22-karat gold was priced at Rs 9,150 per gram.

Gold Price in Delhi:
The national capital recorded 24K gold at Rs 9,997 per gram, with 22K gold available at Rs 9,165 per gram.

Gold Price in Chennai:
Gold rates in Chennai were slightly lower, with 24K gold at Rs 9,982per gram and 22K gold at Rs 9,150 per gram.

Gold Price in Kolkata:
In Kolkata, 24-karat gold was priced at Rs 9,982per gram, and 22-karat gold was selling at Rs 9,150 per gram.

Gold Price in Bengaluru:
Bengaluru saw 24K gold trading at Rs 9,982per gram, while 22K gold was available at Rs 9,150 per gram.

Gold Price in Pune:
Pune saw 24K gold trading at Rs 9,982per gram, while 22K gold was available at 9,150 per gram.