Gold and silver prices in India held steady on Sunday, August 2, 2026, giving buyers a breather after a choppy few weeks in the bullion market. The pause follows a dip in the previous session and marks the fifth straight day that silver rates have stayed unchanged.
24-karat gold is trading at Rs 14,422 per gram today, flat from Saturday after slipping by Rs 38 the day before that. Buyers eyeing 22-karat gold, the purity most commonly used in jewellery, will pay Rs 13,220 per gram, while 18-karat gold, popular for lightweight and diamond-studded designs, costs Rs 10,816 per gram. For bigger purchases, 10 grams of 24K gold now costs Rs 1,44,220, and 100 grams is priced at Rs 14,42,200.
Silver, meanwhile, is holding at Rs 235 per gram and Rs 2,35,000 per kilogram, exactly where it has stood for nearly a week. A 10-gram buy of silver will set you back Rs 2,350.
City-wise, rates differ slightly because of local taxes and transport costs, but jewellers in Delhi, Mumbai, Chennai, Kolkata, Bengaluru and Hyderabad are quoting largely similar 22K and 24K figures today.
So why the sudden calm? Analysts trace it back to the US Federal Reserve’s cautious, high-interest-rate stance, which is being driven less by a booming economy and more by elevated global crude oil prices pushing up inflation. That combination has made gold and silver less attractive to investors in the short run, capping any sharp recovery in bullion prices over recent weeks.
But the outlook isn’t gloomy for long. According to the latest Kitco Weekly Chart analysis, gold is already down close to 30 percent from its recent peak, and silver has slid from north of $120 an ounce internationally to the $50-plus range — a decline steep enough that many believe sellers are running out of room to push prices lower still. Several analysts now flag September 2026 as a possible turning point for a bullion rebound.
For Indian households eyeing festive and wedding-season purchases later this year, that forecast is worth watching closely. Prices can shift quickly once global sentiment turns, so anyone planning a big gold or silver buy may want to track daily rates rather than wait indefinitely for a bigger dip.
As always, actual jewellery store prices may vary slightly due to making charges, GST and city-specific levies, so it’s worth confirming local rates before you buy.