Gold Price Today: Rates Drop by ₹1,860 in a Week, Check Latest Prices in 10 Major Cities

Gold prices in India witnessed a notable decline this week, giving some relief to buyers amid ongoing global and domestic market volatility. Over the past seven days, the price of 24-carat gold has dropped by ₹1,860 per 10 grams, while 22-carat gold has become cheaper by around ₹1,700 per 10 grams.

According to the latest data, the yellow metal is now trading at lower levels across major Indian cities including Delhi, Mumbai, Chennai, Kolkata, Hyderabad, and others. The dip in prices is linked to fluctuations in international gold rates and currency movements that continue to influence the domestic bullion market.

Gold Prices in Delhi

In the national capital, the rate of 24-carat gold now stands at ₹1,01,330 per 10 grams, while 22-carat gold is priced at ₹92,900 per 10 grams. This fall in prices comes after a week of steady corrections in both global and domestic markets.

Gold Rates in Mumbai, Chennai and Kolkata

In Mumbai, Chennai, and Kolkata, the price of 22-carat gold is ₹92,750 per 10 grams, while 24-carat gold is available at ₹1,01,180 per 10 grams. These cities traditionally see strong demand for gold, and the recent price dip may attract festive-season buyers.

Prices in Jaipur, Lucknow and Chandigarh

Gold buyers in Jaipur, Lucknow, and Chandigarh are witnessing similar rates, with 24-carat gold priced at ₹1,01,330 per 10 grams and 22-carat gold at ₹92,900 per 10 grams.

Rates in Ahmedabad and Bhopal

In Ahmedabad and Bhopal, 22-carat gold is retailing at ₹92,800 per 10 grams, while the price of 24-carat gold is ₹1,01,230 per 10 grams.

Gold Prices in Hyderabad

Hyderabad, another key gold-buying market, has recorded rates of ₹92,750 per 10 grams for 22-carat gold and ₹1,01,180 per 10 grams for 24-carat gold.

Silver Prices Also Fall

Alongside gold, silver has also witnessed a correction. In the last week, silver prices have dropped by ₹200 per kilogram, currently standing at ₹1,16,200 per kg. Interestingly, just a few days ago on August 14, silver prices in Delhi spiked by ₹1,500 to reach ₹1,13,500 per kg, highlighting the ongoing volatility in the bullion market.

Expert Outlook

Jatin Trivedi, Vice President (Commodities & Currency) at LKP Securities, noted that the global gold market outlook remains positive as long as international prices hold above $3,280 per ounce. This indicates that while domestic buyers may see short-term corrections, the long-term trend could remain upward depending on global cues.

Why This Matters for Buyers

Gold remains one of the most preferred investment options in India, especially ahead of festivals and weddings. The latest correction in prices could provide a good entry point for retail investors and jewelry buyers. However, market experts advise keeping a close watch on global developments, including US Federal Reserve policies, inflation data, and currency fluctuations, as these factors continue to influence bullion prices worldwide.

For now, Indian buyers can breathe a sigh of relief as the yellow metal trades cheaper across major cities, offering an opportunity for both investment and festive purchases.