Gold Prices Remain Flat on Monday After Last Week’s Volatile Price Action

Mumbai, July 20: Gold prices opened flat in India on Monday, as 24K, 22K and 18K gold opened at levels tied to Friday’s closing prices. The national average gold rate for 24 karat gold today stands at Rs 1,43,280 per 10 grams, for 22 karat gold at Rs 1,31,340 per 10 grams and for 18 karat gold at Rs 1,07,460 per 10 grams. 

The rates for all three are trading flat versus previous trading session’s closing as on Friday, 24K gold had dipped Rs 300 to Rs 1,43,280 per 10 grams, 22K gold had eased Rs 270 to Rs 1,31,340 and 18K gold had fallen Rs 220 to Rs 1,07,460 per 10 grams. Bullion markets were shut in India over the weekend, so technically Monday’s open quotes are mirroring Friday’s closing prices. This means there is a net change of Rs 0 today in the national average prices for 24 karat gold, 22 karat gold and 18 karat gold. However, traders attribute the flat start to last week’s volatile price action driven by a cocktail of cues — global rate action, rupee-dollar movement and safe-haven demand on account of escalating tensions in the Middle East — with prices still trading near record levels as markets start another week. 

Gold prices on Monday, July 20, city-wise 

Gold rate quotations provided by Goodreturns.in are compiled as per gram rates reported from various cities, and converted here to per 10 gram rates for ease of reading. Premiums have narrowed over the weekend in Chennai, which continues to quote the highest premiums in the country. While 24K gold and 22K gold in the city now trade at par with the national average at Rs 1,43,280 and Rs 1,31,340 per 10 grams respectively, 18K gold still trades at a premium of Rs 2,030 to the national rate at Rs 1,09,490 per 10 grams. Delhi quotes the second-highest rates in the country today with 24K gold at Rs 1,43,430 per 10 grams, 22K gold at Rs 1,31,440 and 18K gold at Rs 1,07,610 — all ticking slightly higher than the national average. 

Vadodara and Ahmedabad trade with a slimmer premium to Friday’s national average, with 24K gold at Rs 1,43,330 per 10 grams, 22K gold at Rs 1,31,390 and 18K gold at Rs 1,07,510. Mumbai, Kolkata, Bangalore, Hyderabad, Kerala and Pune are all trading at par with the national average with 24K gold at Rs 1,43,280, 22K gold at Rs 1,31,340 and 18K gold at Rs 1,07,460 per 10 grams. Traders and experts once again advise prospective buyers and sellers to confirm live rates during the day and ensure the final billed price to you by the jeweller is inclusive of making charges and GST before purchasing or selling gold. 

However, dealers cautioned against reading too much into the flat open. Physical demand at jewellery stores has remained firm through the last week, driven by seasonal buying during wedding season even as prices hover around record highs, and expect that demand to continue into this week. Analysts said gold prices will likely respond to a familiar set of triggers going forward including cues from the US Federal Reserve on interest rates, movement in the dollar index and geopolitical tensions especially if US-Iran tensions flare up again, and last but not least change in domestic import duty and supply-demand conditions. 

Gold prices have traded close to record highs throughout July, with rates having moved by several hundred rupees per 10 grams in a single session over the last two weeks as investors balanced safe-haven demand with bouts of profit-booking. With no major domestic data expected early in the week, analysts and traders say global cues — especially out of the Middle East and any commentary from the US on monetary policy — will drive the next big move in bullion prices. 

10 Gram Gold Rates Across Major Indian Cities — Monday, July 20, 2026 

Source

• goodreturns.in