Gold rates in India crashed after hitting a new all-time high. With that, gold prices have halted their three-day winning streak. The prices of 10 grams and 100 grams of gold in 24 carats dropped by Rs 1,360 and Rs 13,600 to Rs 1,00,970 and Rs 10,09,700. This comes after the prices touched a new all-time high earlier. MCX gold also pulled back significantly. Volatility is expected in the precious metals on July 25.
On July 24, the 24-carat gold price slipped by Rs 1,360 to Rs 1,00,970 per 10 grams, while the biggest crash was seen in 100 grams, dropping by Rs 13,600 to Rs 10,09,700. Additionally, the prices of 8 grams and 1 gram of gold declined by Rs 1,088 and Rs 136, respectively, to Rs 80,776 and Rs 10,097.
Furthermore, the 10-gram gold price plunged by Rs 1,250 to Rs 92,550 in 22 carat, while 100 grams of gold in the same carat tumbled by Rs 12,500 to Rs 9,25,500. 8 grams and 1 gram gold prices here were at Rs 1,000 and Rs 125 to Rs 75,040 and Rs 9,380 respectively.
Additionally, in case of 18 carat gold, 10 grams of gold dipped by Rs 1,020 to Rs 75,730, 100 grams of gold slipped by Rs 10,200 to Rs 7,57,300, 8 grams of gold shed Rs 816 to Rs 60,584, and lastly 1 gram of gold price edged lower by Rs 102 to Rs 7,573.
The price of gold in Chennai is Rs 10,097 per gram for 24 karat gold, Rs 9,255 per gram for 22 karat gold and Rs 7,625 per gram for 18 karat gold (also called 999 gold).
The price of gold in Mumbai is at Rs 10,097 per gram for 24 karat gold, Rs 9,255 per gram for 22 karat gold and Rs 7,573 per gram for 18 karat gold (also called 999 gold).
The price of gold in Hyderabad is at Rs 10,097 per gram for 24 karat gold, at Rs 9,255 per gram for 22 karat gold and at Rs 7,573 per gram for 18 karat gold (also called 999 gold).
The price of gold in Bengaluru is at Rs 10,097 per gram for 24 karat gold, at Rs 9,255 per gram for 22 karat gold and at Rs 7,573 per gram for 18 karat gold (also called 999 gold).
The price of gold in Ahmedabad is at Rs 10,102 per gram for 24 karat gold, at Rs 9,260 per gram for 22 karat gold and at Rs 7,577 per gram for 18 karat gold (also called 999 gold).
Silver prices also took a breather from their strong rally. On July 24, the price of 1kg of silver declined by Rs 1,000 to Rs 1,18,000 in India. 100 grams and 10 grams of silver rates dipped to Rs 11,800 and Rs 1,180 respectively.
MCX Gold, Silver Prices:
MCX gold with August 2025 expiry date, closed at Rs 98,749 per 10 grams, up by Rs 23, after hitting an intraday high of Rs 99,118 per 10 grams.
However, MCX silver price with September 2025 expiry, inched lower by Rs 13 to close at Rs 1,15,120 per 1kg.
Gold Price Outlook On July 25:
According to Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities, gold traded weak as trade deals between the US and Japan, and potential agreements with the EU, weighed on safe-haven demand. Over the past month, gold has sustained gains amid stalled tariff negotiations, but fresh deal announcements have triggered expectations of easing tensions, reducing bullion's appeal in the short term.
It needs to be noted that gold prices in Indian retail stores hit new highs despite gold at MCX and in the international market trading in a cautious to bearish tone.
MCX gold is likely to maintain around Rs 99,500 on July 5.
Trivedi said, "Comex gold has declined by around $60 since yesterday, while MCX gold dropped nearly Rs 1,500 to Rs 98,600. In the near term, gold is likely to remain volatile within a range of Rs 97,500-Rs 99,500."
When gold touched an all-time high, Prithviraj Kothari, Managing Director of RiddiSiddhi Bullions Limited (RSBL), said, "Gold prices have touched a fresh high, closing around ₹1,03,000, driven by a combination of global economic uncertainties. Rising tariffs, increasing geopolitical tension, and ongoing policy shifts-particularly surrounding Donald Trump's re-election campaign and economic stance-are contributing to global volatility."
As a result, Kothari added, "we're seeing firm upward pressure on international gold prices, with the dollar strengthening and commodity markets reacting sharply."
Broadly, precious metals are expected to continue gaining momentum/
"Now that gold has broken key resistance levels and found support near $3,498 internationally, the broader outlook remains bullish," said Kothari.
However, he also added, despite the rally, domestic sales have slowed due to elevated price points.
Looking ahead, Kothari added, "while the long-term trend is positive, we anticipate a short-term correction of around $200. Given that prices surged nearly Rs 2.5 lakh per kilo over just five working days-a healthy pullback is expected before the next leg up."
In the international market, spot gold fell below $3,380 per ounce on Thursday, extending its more than 1% loss from the previous session, as optimism over further trade deals between the US and key partners dampened the metal's safe-haven appeal, as per Trading Economics data.
Disclaimer: The recommendations made above are by market analysts and are not advised by either the author nor Greynium Information Technologies. The author, nor the brokerage firm nor Greynium would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.
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