<p>On July 31, gold prices decreased somewhat as a result of sluggish spot market demand. A 10 gram piece of 22-carat gold cost Rs 55,400 in Delhi, while a piece of 24-carat gold cost Rs 60,430. However, silver remained unchanged at Rs 77,000 per kilogram.</p>
<p>The price per 10 gm of 22- and 24-carat gold in Mumbai was Rs. 55,250 and Rs. 60,280, respectively. The price of 22-carat gold was similarly Rs 55,250 per 10 gm in Bengaluru, while the price of 24-carat gold was Rs 60,410. 22-carat gold was also being sold in Kolkata for Rs 55,250. However, a 10 gram piece of 24-karat gold cost Rs 60,280<img decoding=”async” class=”alignnone wp-image-103992″ src=”https://www.theindiaprint.com/wp-content/uploads/2023/07/theindiaprint.com-after-a-us-court-rejected-debt-forgiveness-biden-unveiled-a-new-plan-for-student-loan-repayment-download-2023-07-31t123821.529.jpg” alt=”” width=”1329″ height=”744″ srcset=”https://www.theindiaprint.com/wp-content/uploads/2023/07/theindiaprint.com-after-a-us-court-rejected-debt-forgiveness-biden-unveiled-a-new-plan-for-student-loan-repayment-download-2023-07-31t123821.529.jpg 300w, https://www.theindiaprint.com/wp-content/uploads/2023/07/theindiaprint.com-after-a-us-court-rejected-debt-forgiveness-biden-unveiled-a-new-plan-for-student-loan-repayment-download-2023-07-31t123821.529-150×84.jpg 150w” sizes=”(max-width: 1329px) 100vw, 1329px” /></p>
<p>The price of 22-carat gold in Noida was Rs 55,400 per 10 kilos, while the price of 24-carat gold was Rs 60,430 per 10 grams. The costs were the same in Agra. In Bhopal, a 10 gram piece of 22-carat gold cost Rs 55,300 while a piece of 24-carat gold cost Rs 60,330. The costs were the same in Patna.</p>
<p>Silver was down 0.24 percent to Rs 73,883 per kg for September 5 contracts, while gold was down 0.22% to Rs 59,655 per 10 grams for October 5 delivery in the MCX futures market.</p>
<p>Silver was down by 0.35 percent to $24.32 an ounce in New York while gold was trading down by 0.28 percent to $1,955 an ounce on the international market.</p>
<p>“COMEX gold prices whipsawed during the previous week and ended with marginal losses, tracking a rebound in the greenback and treasury yields amid better than expected data from the US,” said Ravindra V. Rao, vice-president and head (commodity research) at Kotak Securities Ltd. The biggest surprise came from the US GDP, which increased by 2.4% in the second quarter, far greater than market projections of 1.8% and highlighting the economy’s resistance to rising interest rates.</p>
<p>The potential cost of storing the non-interest-bearing precious metals increased due to the solid US economy and increased pricing pressures, he said. The focus this week will be on US labor market statistics and ISM PMIs. The final PMIs from other significant economies and the Bank of England’s monetary policy meeting will increase the volatility.</p>
<p>“Any evidence of improvement in the US labor market or growth in the ISM PMIs may increase the likelihood of a rise in September. According to Rao, the dollar may continue to be supported by the US economy’s superior performance to its counterparts, which might put pressure on gold prices this week.</p>
<p>Vice-President for Commodities Rahul Kalantri of Mehta Equities said, “We anticipate that gold and silver will continue to be volatile in today’s session. Support for gold is located around $1946 and resistance is located at $1969 and 1978. Support and resistance levels for silver are $24.14–23.98 and $24.50–24.65, respectively. Support for gold in INR terms is at Rs. 59,150 and Rs. 58,980, while resistance is at Rs. 59,590 and Rs. 59,670. Support and resistance levels for silver are respectively around Rs73,880-73,220 and Rs74,940-75,520.</p>
<p> </p>
Check the most recent gold and silver rates in your city on July 31
