Gold Rate Today, July 29: Prices continue to fall; check 24, 22 and 18 carat rate across Malabar Gold, Kalyan Jewellers and others

Gold prices continued to decline for the second consecutive day on Wednesday (July 29, 2026). According to GoodReturns.in, 24 carat gold fell in price by ₹660 to ₹1,43,510. 22 carat and 18 carat gold, meanwhile, also declined in price by ₹600 and ₹500 to ₹1,31,550 and ₹1,07,630 per 10 gm, respectively.

Investor sentiment remains largely cautious ahead of the crucial Federal Reserve interest rate outcome later today.

On July 29, 2026, gold prices per gm across major brands are as follows:

The below specified prices are taken from the respective retailer's website as around 10 am.

Joyalukkas: 24 carat gold quoted at ₹14,351 per gm, while 22 carat gold was priced at ₹13,155 per gm. Meanwhile, 18 carat gold was available for ₹10,763 per gm.

Kalyan Jewellers: 24 carat gold today is priced at ₹14,416 per gm, while 22 carat gold is available for ₹13,215 per gm. 18 carat gold was priced at ₹10,812 per gm.

India Bullion and Jewellers Association (IBJA): 999 purity gold in the evening session on July 28 traded at ₹1,42,291 per 10 gm.

Factors influencing gold rate in India

Tracking mild losses in the international bullion market, gold prices traded with a cut on the MCX. At around 10:06 am, gold August futures traded with a cut of 0.2% or ₹285 at ₹1,41,339 per 10 gm.

The strength in the dollar together with nervousness around the likely Fed interest rate decision later today continued to weigh on the precious yellow-metal.

The dollar traded near a one-month high, weighing on the dollar-priced bullion.

The two-day Federal Reserve Open Market Committee (FOMC) meeting started on July 28 and will conclude later today.

Market participants anticipate a 70% probability of a status quo and a 30% chance of a minimum 25 basis point hike, according to the FedWatch tool. In the September meeting, markets are anticipating a 76% chance of a rate hike.

On the US-Iran war front, the US Central Command on Tuesday said that Iran launched several ballistic missiles "in an attempted surprise attack on U.S. forces based in the Middle East," but the missiles were successfully intercepted.

Despite lingering geopolitical uncertainty, gold's appeal as a safe-haven has been outweighed by concerns over inflation and the interest rate outlook.