BIG Fall In Gold Rate In India; 24K, 22, 18K Gold Price Dips Below Rs 1 Lakh, Silver Follows Trend on July 26

Gold Rate in India Today: The gold rate in India is on a correction trajectory, following a significant surge over the past few days. The continuous decline in the precious metal's price dragged it below the Rs 1 lakh mark on Saturday, July 26. Falling domestic gold prices align with sliding international gold rates as investors continue to follow positive developments in US tariff negotiations and trade talks.

Gold prices in India are closely monitored and tracked not just by investors but also by retail jewellery buyers. Gold holds cultural significance in the country, where people prefer to invest in its physical form, especially by purchasing gold jewellery and other ornaments. For investors and retail gold jewellery buyers, here are the latest gold prices in India on July 26.

Gold Rate in India Today

The price of 24 karat gold in India fell by Rs 55 per gram to Rs 9,993; likewise, the price of 22 karat gold declined by Rs 50 to Rs 9,160 per gram. The price of 18 karat gold in India tumbled by Rs 41 to Rs 7495 per gram. Gold rate in India touched a record-high mark this week. Since then, the yellow metal's price has been consolidating, apparently due to profit-booking by investors.

Silver Rate in India Today

The price of silver also declined on Saturday. The price of silver stood at Rs 116 per gram, after declining by Rs 2. Whereas, 1 kilogram of silver became cheaper by Rs 2,000 and is likely to be sold at Rs 1,16,000 per kilogram on Saturday. Silver has emerged as a better and affordable alternative to gold for investors because of its relatively attractive valuations.

Despite the decline, silver is also currently trading in its all-time high levels because of surge in industrial demand as well as increasing interest among investors and retail jewellery buyers.

"The latest CFTC COT data shows money managers' net long positions in COMEX gold rising to around 600 tonnes, signaling growing speculative interest, though still well below crisis-era peaks of 1,200 tonnes-indicating capacity for further build up should risk sentiment deteriorate. ETF inflows and steady central bank buying continue to underpin the broader bullish narrative, while the US dollar's worst start to a year since 1973 remains a tailwind," said Riya Singh - Research Analyst, Commodities and Currency , Emkay Global Financial Services.

The international gold rates declined over the week and their latest price stood at $3,360 per ounce on Friday, according to Trading Economics. Decline in gold price rally has come amid cooling off in safe-haven demand for the precious metal as investors are monitoring progress in trade talks. There are also expectations that the US Fed reserve is likely to hold its rates steady in meeting next week.

Gold Rate in Indian Cities

After Saturday's fall, gold rate in Indian cities, including Mumbai, Bangalore, Chennai, etc, dipped below the Rs 1 lakh mark. However, Delhi remained an exception, where 24 karat gold price today stood at Rs 10,008 per gram, which means Rs 1,00,080 per 10 gram, The price of the precious metal in Bangalore stood at Rs 9993 per gram for 24 karat, Rs 9160 per gram for 22 karat and Rs 7495 per gram for 18 karat.

Disclaimer: The write-up is just for information purposes, and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on article mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.