Gold Price Today, July 31: Check Prices In Your City

Daily Rates for 22-Carat and 24-Carat Gold. Find the Latest Gold and Silver Prices in Your City

July 31, 2025: On Thursday, July 31, 2025, gold price and silver prices in India went down when the US Federal Reserve decided to maintain interest rates the same. This action has apparently made it less likely that the rate will be lowered in September, which has made bullion less appealing.

In Mumbai, 22-carat gold cost Rs 91,700 for 10 kilos, and 24-carat gold cost Rs 1,00,030 for 10 grams.

Silver dropped more, going down by Rs 2,000 to Rs 1,15,000 a kg.

Gold futures (set to expire on August 5, 2025) were trading lower by 0.26% at Rs 98,725 per 10 grams on the Multi Commodity Exchange (MCX) in the futures market. Silver futures, which will end on September 5, 2025, fell by 1.26% to Rs 1,11,440 per kilogram.

The drop was caused by the US Federal Reserve’s decision, according to Aksha Kamboj, Vice-President of the India Bullion and Jewellers Association and Executive Chairperson of Aspect Global Ventures. As expected, the US Federal Reserve maintained interest rates the same, which caused gold prices to drop somewhat. Kamboj said, “The chances of a rate cut in September have also gone down, which is bad for bullion.”

Even if the price of gold has dropped, Kamboj thinks that people will still be interested in buying it at cheaper prices because of strong local demand before the holidays and ongoing purchases by central banks throughout the world. In the near future, important things to keep an eye on are the release of US personal consumption spending data later today, the employment report coming out tomorrow (August 1), and the start of tariffs in August.

As of 0230 GMT, US spot gold was selling for $3,292.24 per ounce on the international market. This was a small recovery after it touched its lowest point since June 30 at $3,267.79 on Wednesday. Gold futures in the US also declined 0.2% to $3,287.