Gold Price Rebounds by Rs 6,600 for 24-Carat Per 100g on July 30; Silver Jumps Too -Will Rates Rise Further?

Gold Price Today: Gold prices in India took a U-turn today after witnessing yesterday's fall and reclaimed the Rs one lakh mark for 24-karat per 10 grams. However, Gold prices are moving in a narrow range, hinting towards the downside as easing trade tensions reduced the metal's safe-haven appeal. The US-EU agreement, which imposed a 15% tariff on most European goods, helped avert a broader trade conflict.

On Wednesday, July 30, the price of 24-carat gold increased by Rs 660, bringing the rate to Rs 1,00,480 for 10 grams. The ongoing uncertainty over tariffs also supported gold, although a broader volatile trade environment will play a huge role in gold's price movement.

Gold Price in India Today:

The price of 24-carat gold in India increased by Rs 660 per 10 grams to Rs 1,00,480. Similarly, the price of 22-carat gold moved up by Rs 600 to Rs 92,100 per 10 grams. The 18-carat gold rate also rose by Rs 490, now at Rs 75,360 per 10 grams as of Wednesday. The 1-gram variant of 24-carat and 22-carat gold increased by Rs 66 and Rs 60 to cost it at Rs 10,048 and Rs 9,210, while the 1 gram of 18-carat gold moved up by Rs 49 to cost at Rs 7,536.

Meanwhile, the price of 100 grams of 22-carat gold is now Rs 9,21,000 after rising by Rs 6,000. For 24-carat gold, 100 grams now costs Rs 10,04,800 up by Rs 6,600. Also, the 18-carat gold in 100 grams is now available at Rs 7,53,600 up by Rs 4,900.

Silver Rate in India Today:

Silver prices in India went up on Wednesday, July 30. The price for 1 kg of silver increased by Rs 1,000 and now costs Rs 1,17,000. The price for 100 grams also rose by Rs 100 and is now Rs 11,700. Similarly, 10 grams of silver is now Rs 1,170, up by Rs 10.

Gold and Silver Futures Prices on MCX:

On the MCX, gold futures with 5 August 2025 expiry is trading at Rs 98,431, up by Rs 170 or 0.17% per 10 grams. It has made an intraday high at Rs 98,620, today on July 30. Silver futures expiring on September 5, 2025 is also trading in green, up by Rs 217 or 0.19% at Rs 1,13,970.

Gold Outlook:

"Gold prices climbed as investors turned their attention to key macroeconomic and geopolitical events this week. The market is bracing for outcomes from the ongoing U.S.-China trade talks and the U.S. Federal Reserve's policy meeting. While the Fed is expected to hold interest rates steady, markets are pricing in a possible rate cut in September, providing underlying support to bullion.

Technically, gold is under fresh buying pressure with open interest rising 12.38% to 12,029. Support lies at 98,615 and 98,105, while resistance is seen at 99,460 and 99,795 on further gains," noted Ajay Kedia, Director of Kedia Advisory.

"Gold prices traded higher amid the ongoing two-day U.S. Federal Reserve policy meeting. With key U.S. economic data-ADP Non-Farm Employment Change, Non-Farm Payrolls, Unemployment Rate, and GDP-lined up this week alongside the Fed's rate decision, price action is expected to remain volatile. Gold is likely to move within the range of Rs 97,000-Rs 98,650 in the near term," said Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities.

Spot Gold Prices + Spot Silver Price Today:

According to the latest update, spot gold is almost flat by dropping 0.03% or 1.10 points trading at $3,325.65 an ounce, as of 11.15 GMT, staying near a three-week low as easing trade tensions reduced the metal's safe-haven appeal.

Meanwhile, spot silver is also marginally down by 0.011% to $38.15 an ounce, hovering near two-week lows as a strong US dollar continued to weigh on the market.

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