- Gold and silver prices declined nearly one percent on Friday.
- Stronger US dollar and geopolitical tensions dampened bullion sentiment.
- Rising crude prices and rate expectations limited bullion appeal.
Gold Silver Rate Today:Gold and silver prices traded lower on Friday, extending their weakness as a stronger US dollar and heightened geopolitical tensions in West Asia dampened sentiment across the bullion market. Both precious metals fell by nearly 1 per cent during the session.
On the Multi Commodity Exchange (MCX), gold futures for August delivery opened at Rs 1,42,392 per 10 grams, lower than the previous close of Rs 1,42,821.
During the session, the contract declined by as much as Rs 1,079, or 0.75 per cent, to touch an intraday low of Rs 1,41,742 per 10 grams. It later recovered some losses and was trading at Rs 1,42,376, down Rs 445 or 0.31 per cent. The intraday high stood at Rs 1,42,518 per 10 grams.
Silver also remained under pressure. September futures opened at Rs 2,18,280 per kg, down Rs 1,095 or 0.49 per cent from the previous settlement of Rs 2,19,375.
The white metal slipped further to an intraday low of Rs 2,17,325 per kg, a decline of Rs 2,050 or nearly 1 per cent. During the day, silver touched a high of Rs 2,20,000 per kg.
In overseas markets, the weakness persisted. COMEX gold was down 0.48 per cent at $4,030 an ounce, while COMEX silver fell 0.41 per cent to $57.80 an ounce.
Market participants attributed the decline primarily to the strengthening US dollar index, which climbed above the 101 mark as geopolitical tensions between the US and Iran intensified. A firmer dollar typically makes bullion more expensive for holders of other currencies, reducing demand.
The recent rise in crude oil prices has also fuelled concerns over a fresh bout of inflation. That has prompted investors to reassess expectations for US interest rates, with the possibility of higher borrowing costs limiting the appeal of non-yielding assets such as gold and silver.
Although precious metals are often viewed as safe-haven assets during periods of uncertainty, expectations that interest rates could stay elevated have continued to cap any sustained upside.
According to market analysts, MCX gold opened with a gap down and slipped below the Rs 1,42,000 level, reflecting a weak near-term trend. Immediate support is seen around Rs 1,41,500, with a break below this level potentially pushing prices towards the Rs 1,41,000-Rs 1,40,700 zone.
On the upside, resistance is placed between Rs 1,42,700 and Rs 1,43,000, followed by the Rs 1,43,700-Rs 1,44,000 range. Analysts believe gold needs to reclaim these levels before momentum can improve.
Silver futures also opened with a gap lower and continued to trade with a negative bias. Immediate support is seen in the Rs 2,16,700-Rs 2,16,000 range, while the next support lies between Rs 2,14,500 and Rs 2,14,000.
Resistance for silver is placed at Rs 2,19,000-Rs 2,20,000, followed by the Rs 2,22,000-Rs 2,23,000 zone. Analysts expect the near-term outlook to remain weak unless prices move decisively above these resistance levels.
Despite Friday’s decline, investors continue to monitor developments surrounding the US-Iran conflict, movements in the US dollar and interest rate expectations, all of which are expected to remain key drivers for bullion prices in the coming sessions.
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Gold Rates Across Major Cities In India On July 24
Gold Prices in Delhi Today (Per 1 Gram)
24 Karat – 14,448
22 Karat- 13,240
18 Karat- 10,840
Gold Prices in Chennai Today (Per 1 Gram)
24 Karat – 14,433
22 Karat- 13,230
18 Karat- 11,045
Gold Prices in Bengaluru Today (Per 1 Gram)
24 Karat – 14,433
22 Karat- 13,230
18 Karat- 10,825
Gold Prices in Mumbai Today (Per 1 Gram)
24 Karat – 14,433
22 Karat- 13,230
18 Karat- 10,825
Gold Prices in Pune Today (Per 1 Gram)
24 Karat – 14,433
22 Karat- 13,230
18 Karat- 10,825
Gold Prices in Kolkata Today (Per 1 Gram)
24 Karat – 14,433
22 Karat- 13,230
18 Karat- 10,825
| City | 24k Gold Per Gram | 22k Gold Per Gram | 18k Gold Per Gram |
| Gold Rate in Hyderabad | 14,433 | 13,230 | 10,825 |
| Gold Rate in Ahmedabad | 14,438 | 13,235 | 10,830 |
| Gold Rate in Indore | 14,438 | 13,235 | 10,830 |
| Gold Rate in Lucknow | 14,448 | 13,240 | 10,840 |
| Gold Rate in Coimbatore | 14,433 | 13,230 | 11,045 |
| Gold Rate in Bhubaneswar | 14,433 | 13,230 | 10,825 |
| Gold Rate in Mysore | 14,433 | 13,230 | 10,825 |
| Gold Rate in Kanpur | 14,448 | 13,245 | 10,840 |
| Gold Rate in Salem | 14,433 | 13,230 | 11,045 |
| Gold Rate in Visakhapatnam | 14,433 | 13,230 | 10,825 |
| Gold Rate in Vijayawada | 14,433 | 13,230 | 10,825 |
| Gold Rate in Patna | 14,438 | 13,235 | 10,830 |
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Silver Price Across Major Cities In India On July 24
Silver Price In Delhi Today
The current silver price in Delhi stands at Rs 235 per gram and Rs 235,000 per kg.
Silver Price In Chennai Today
The current silver price in Chennai stands at Rs 240 per gram and Rs 240,000 per kg.
Silver Price In Bengaluru Today
The current silver price in Bengaluru stands at Rs 235 per gram and Rs 235,000 per kg.
Silver Price In Mumbai Today
The current silver price in Mumbai stands at Rs 235 per gram and Rs 235,000 per kg.
Silver Price In Pune Today
The current silver price in Pune stands at Rs 235 per gram and Rs 235,000 per kg.
Silver Price In Kolkata Today
The current silver price in Kolkata stands at Rs 235 per gram and Rs 235,000 per kg.
Silver Price Today in Major Indian Cities
| City | Per Gram | Per KG |
| Silver Rate in Hyderabad | 240 | 240,000 |
| Silver Rate in Ahmedabad | 235 | 235,000 |
| Silver Rate in Indore | 235 | 235,000 |
| Silver Rate in Lucknow | 235 | 235,000 |
| Silver Rate in Coimbatore | 240 | 240,000 |
| Silver Rate in Bhubaneswar | 240 | 240,000 |
| Silver Rate in Mysore | 235 | 235,000 |
| Silver Rate in Kanpur | 235 | 235,000 |
| Silver Rate in Salem | 240 | 240,000 |
| Silver Rate in Visakhapatnam | 240 | 240,000 |
| Silver Rate in Vijayawada | 240 | 240,000 |
| Silver Rate in Patna | 235 | 235,000 |
