Gold Rate In India BREAKS All Records! Rs 2,890 Weekly Surge Takes 24K To All-Time High On July 23

Gold Rate in India hit an all-time high mark of Rs 1,02,330 on Wednesday, July 23, driven by a sharp and continuous gold price rally amid rising uncertainty around India-US trade deal and geopolitical uncertainty.

Gold rate in India has been witnessing a constant surge in its valuation since the beginning of the year 2025. The precious metal crossed Rs 1 lakh mark for the first time in April. In next four months, gold rate in India shattered the previous record and jumped to a fresh all-time high mark of Rs 1,02,330 per 10 gram. The development is likely to be a major setback for retail jewellery buyers in India. Here are all the latest gold rates today.

Gold Rate in India

The price of gold in India increased significantly on Wednesday. The 24 karat gold rate today surged by Rs 104 to Rs 10,233 per gram. Whereas, the price of 22 karat gold rate in India increased by Rs 95 to Rs 9,380 per gram. Likewise, the 18 karat gold rate today jumped by Rs 78 to Rs 7,675 per gram.

Gold rate in India has increased by Rs 2,890 per 10 gram in one week. The continuous surge in the gold rate today has come in the backdrop of developments related to US trade deals with Japan and Indonesia. Strong dollar movement has further impacted the gold rate in India.

"Globally, anxiety remained elevated as the US maintained its August 1 tariff deadline while the EU responded with restraint, and trade negotiations with key partners such as China and India remained unresolved. These factors have kept safe-haven flows resilient, with the World Gold Council reporting a 26% YTD rally and projecting a further 0-5% upside under base case scenarios, or 10-15% if stagflationary or recessionary conditions materialize," stated Riya Singh - Research Analyst, Commodities and Currency , Emkay Global Financial Services.

Silver Rate in India

The price of silver followed the trend and surged on Wednesday. The white metal is already at its all-time high levels due to strong industrial demand and attractive valuation compared to gold. Silver rate in India today stood at Rs 119 per gram and Rs 1,19,000 per kilogram.

Silver has often emerged as a safe haven and an affordable alternative for retail jewellery buyers as well as investors. Hence, a remarkable gold price rally often leads to buyers shifting towards silver as a cheaper alternative option for investment.

Gold Rate in Indian Cities

In line with the sharp surge in gold rate in India today, the price of the precious metal increased significantly in other Indian cities like Mumbai, Bangalore, Delhi, Chennai, Kolkata, Hyderabad, Vadodara, Bhopal, etc.

Gold Rate Outlook

Gold prices are expected to rise during the Wednesday's trading session. Commenting on the gold rate outlook for July 24, Nirmal Bang stated, "Gold prices are expected to rise. One can buy at 100000 with a stop loss of 99700 for the target at 100500-100800."

"Silver prices are expected to rise. One can buy at 115000 with a stop loss of 114200 for the target 116100-116800," the report added.

In contrast to the sharp surge in gold rate in India, the price of the precious metal dipped to around $3,420 per ounce on Wednesday. The July 23's decline snapped gold's three-day winning streak and helped the precious metal to dip below the five-week high mark, according to Trading Economics.

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.