Gold and silver prices fell due to softer spot demand, rising inflation concerns, and expectations of higher interest rates. Subdued demand in the physical market also played a role.
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Gold Silver Rate Today (July 16): Metals Fall, Check Latest Rates In Delhi, Mumbai, Chennai, More
Gold and silver prices traded lower on July 16 as US-Iran tensions escalated and both nations violated ceasefire. Check the latest 24K, 22K gold and silver rates in Delhi, Chennai, Kolkata and more.
Analysts expect bullion prices to remain sensitive to movements in crude oil, the US dollar and interest rate expectations in the coming sessions.
Source : ABPLIVE AI
- Gold and silver prices edged lower due to soft demand.
- Concerns over inflation and higher crude oil pressured metals.
- Geopolitical tensions boosted crude, raising interest rate expectations.
Gold Silver Rate Today: Gold and silver prices edged lower on Thursday as softer spot demand and rising concerns over inflation weighed on investor sentiment. Higher crude oil prices and expectations that interest rates could remain elevated also kept pressure on precious metals.
On the Multi Commodity Exchange (MCX), gold futures for August delivery declined by Rs 499, or 0.35 per cent, to Rs 1,41,351 per 10 grams, with a turnover of 743 lots. Analysts attributed the decline largely to subdued demand in the physical market.
Global markets reflected a similar trend. Gold futures in New York fell 0.71 per cent to USD 4,031.58 per ounce, while silver prices also remained under pressure.
The weakness in bullion coincided with a sharp rally in crude oil prices after geopolitical tensions in the Middle East intensified. Brent crude climbed above USD 85 per barrel, while US West Texas Intermediate (WTI) crude rose to around USD 80.42 per barrel as fresh military exchanges involving the US and Iran heightened fears of supply disruptions through the Strait of Hormuz.
Domestically, MCX crude oil futures surged 4.51 per cent to Rs 7,692 after opening nearly 4 per cent higher. Analysts said oil prices could remain volatile as geopolitical developments continue to dominate market sentiment.
The rally in crude has also reignited concerns over inflation, leading investors to reassess expectations for US monetary policy. While gold is typically considered a hedge against rising prices, the possibility of higher interest rates reduces the appeal of non-yielding assets such as bullion by increasing the opportunity cost of holding them.
The US dollar, however, remained near a one-week low, offering some support to precious metals by making dollar-denominated bullion cheaper for overseas buyers. Even so, gold remained on course for a second consecutive weekly decline as expectations of tighter monetary policy offset safe-haven demand arising from geopolitical uncertainty.
Silver also traded lower on Thursday after recent gains, although market participants continue to monitor industrial demand and global macroeconomic developments for further direction. Analysts expect bullion prices to remain sensitive to movements in crude oil, the US dollar and interest rate expectations in the coming sessions.
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Gold Rates Across Major Cities In India On July 16
Gold Prices in Delhi Today (Per 1 Gram)
24 Karat - 14,344
22 Karat- 13,150
18 Karat- 10,762
Gold Prices in Chennai Today (Per 1 Gram)
24 Karat - 14,346
22 Karat- 13,150
18 Karat- 10,970
Gold Prices in Bengaluru Today (Per 1 Gram)
24 Karat - 14,329
22 Karat- 13,135
18 Karat- 10,747
Gold Prices in Mumbai Today (Per 1 Gram)
24 Karat - 14,329
22 Karat- 13,135
18 Karat- 10,747
Gold Prices in Pune Today (Per 1 Gram)
24 Karat - 14,329
22 Karat- 13,135
18 Karat- 10,747
Gold Prices in Kolkata Today (Per 1 Gram)
24 Karat - 14,329
22 Karat- 13,135
18 Karat- 10,747
| City | 24k Gold Per Gram | 22k Gold Per Gram | 18k Gold Per Gram |
| Gold Rate in Hyderabad | 14,329 | 13,135 | 10,747 |
| Gold Rate in Ahmedabad | 14,334 | 13,140 | 10,752 |
| Gold Rate in Indore | 14,334 | 13,140 | 10,752 |
| Gold Rate in Lucknow | 14,344 | 13,150 | 10,762 |
| Gold Rate in Coimbatore | 14,346 | 13,150 | 10,970 |
| Gold Rate in Bhubaneswar | 14,329 | 13,135 | 10,747 |
| Gold Rate in Mysore | 14,329 | 13,135 | 10,747 |
| Gold Rate in Kanpur | 14,344 | 13,150 | 10,762 |
| Gold Rate in Salem | 14,346 | 13,150 | 10,970 |
| Gold Rate in Visakhapatnam | 14,329 | 13,135 | 10,747 |
| Gold Rate in Vijayawada | 14,329 | 13,135 | 10,747 |
| Gold Rate in Patna | 14,334 | 13,140 | 10,752 |
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Silver Price Across Major Cities In India On July 16
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 |
Frequently Asked Questions
What factors led to the decline in gold and silver prices on Thursday?
What caused the increase in crude oil prices?
Crude oil prices surged due to intensified geopolitical tensions in the Middle East, involving the US and Iran. This raised fears of supply disruptions through the Strait of Hormuz.
How do potential higher interest rates impact gold?
The possibility of higher interest rates reduces gold's appeal by increasing the opportunity cost of holding non-yielding assets. This happens despite gold typically being a hedge against inflation.
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