Gold prices in India touched a historic milestone on July 23, with rates surpassing ₹75,000 per pavan (8 grams) for the first time.
In Kerala, 22-carat gold was priced at ₹9,380 per gram, taking the pavan rate to ₹75,040 — the highest ever recorded in the state. The 24-carat rate stood at ₹10,233 per gram.
Other major cities also reported similar highs. In Mumbai, 22-carat gold was priced at ₹93,800 per 10 grams and 24-carat at ₹1,02,330. In Delhi, 22-carat stood at ₹94,000, while in Chennai it was ₹93,950. Bengaluru recorded ₹93,900 for 22-carat.
State-wise variation in prices continues to reflect local demand, taxes, and transportation costs.
In the international market, spot gold slipped 0.2% to $3,423.44 per ounce after briefly touching its highest level since June 16. US gold futures also dipped by 0.2% to $3,437.70. The slight retreat came after US President Donald Trump announced a trade agreement with Japan that includes a 15% tariff on imports from the country, easing immediate market concerns.
Analysts point to global uncertainty as a key reason behind the rise in gold prices. Ongoing trade tensions between the US and China have added to investor caution.
A meeting between US and Chinese officials is expected to take place in Stockholm next week, with a possible extension of the negotiation deadline to August 12 on the table. Currency fluctuations and import duties are also contributing to the domestic price rise.
