Gold Prices Slip Marginally In Lucknow On July 26; 24K Gold Holds Above Rs 10,000

Gold rates in Lucknow edged lower on Saturday (July 26), aligning with a mild correction seen across many parts of India. In the city, 22-karat gold was quoted at Rs 9,175 per gram, while 24-karat gold — widely known as 999 gold — stood at Rs 10,008 per gram.

The moderation in prices comes even as investor appetite for gold remains resilient. Often regarded as a shield against inflation and periods of financial instability, gold continues to occupy a central place in India’s investment and cultural landscape. India ranks as the world’s second-largest gold buyer after China, with most of its demand met by imports. Recycled gold, by contrast, contributes only a small slice of the overall supply.

Currency Shifts and Tax Policies Impact Rates

As gold is priced globally in US dollars, the rupee-dollar exchange rate exerts significant pressure on Indian prices. A weaker rupee tends to push costs higher for local buyers, while a firmer rupee can temper price rises.

Local costs are also moulded by several domestic layers — from import duties to the Goods and Services Tax (GST) and state-specific levies — all of which combine to set the price consumers pay in markets like Lucknow. This combination of international drivers and local fiscal measures means gold prices in India can change quickly in reaction to global events and policy adjustments at home.

Also Read : Bank Holiday Alert: Check If Your Local Branches Are Open Or Closed Today, See RBI Calendar HERE

Lucknow’s Rates Among the Highest Nationwide

On July 26, Lucknow recorded some of the steepest rates across India, matching Delhi’s pricing at Rs 9,175 per gram for 22K gold and Rs 10,008 for 24K. By comparison, cities including Chennai, Mumbai, Pune, Hyderabad, Bengaluru and Kolkata posted slightly lower figures, with 22K gold at Rs 9,160 and 24K gold at Rs 9,993. Ahmedabad and Indore reported similar levels to each other, with 22K gold at Rs 9,165 and 24K at Rs 9,998.

Even with the day’s slight dip, gold’s enduring reputation as a safe and stable store of value means it remains firmly in demand among buyers and investors in Lucknow and beyond.

business