Gold and silver prices edged lower due to weak domestic demand and concerns over higher global interest rates. This happened despite some support from a softer US dollar.
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Gold Silver Rate Today (July 17): Metals Fall, Check Latest Rates In Delhi, Mumbai, Chennai, More
Gold and silver prices traded lower on July 17 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.
Higher borrowing costs typically reduce the appeal of non-yielding assets such as gold by increasing their opportunity cost.
Source : ABPLIVE AI
- Gold, silver prices declined Friday on weak demand.
- Rising interest rates, inflation concerns pressured metals.
- Softer US dollar offered some limited support.
Gold Silver Rate Today: Gold and silver prices edged lower on Friday as weak domestic demand and concerns over higher global interest rates kept pressure on the precious metals market, despite support from a softer US dollar.
On the Multi Commodity Exchange (MCX), gold futures for August delivery declined by Rs 248, or 0.18 per cent, to Rs 1,40,100 per 10 grams, with a turnover of 1,026 lots. Analysts attributed the decline primarily to subdued spot demand.
In international markets, gold futures fell 0.23 per cent to $3,985.52 per ounce in New York.
Investor sentiment remained cautious as rising crude oil prices reignited inflation concerns, prompting markets to reassess expectations for future US interest rate moves. Higher borrowing costs typically reduce the appeal of non-yielding assets such as gold by increasing their opportunity cost.
Although gold is widely regarded as a hedge against inflation, expectations that interest rates could stay elevated have continued to restrict upside in bullion prices.
The US dollar, however, slipped to a one-week low on Friday, making dollar-denominated gold cheaper for overseas buyers and offering some support to global demand.
Even so, gold remained on track for its second consecutive weekly decline as renewed tensions between the US and Iran added to inflationary concerns and strengthened expectations that US monetary policy could remain restrictive.
Silver also witnessed a subdued session. Spot silver rose 0.8 per cent to $60.46 per ounce in international trade, but the metal was still headed for a weekly loss as investors weighed the impact of higher interest rate expectations on precious metals.
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Gold Rates Across Major Cities In India On July 17
Gold Prices in Delhi Today (Per 1 Gram)
24 Karat - 14,268
22 Karat- 13,080
18 Karat- 10,705
Gold Prices in Chennai Today (Per 1 Gram)
24 Karat - 14,291
22 Karat- 13,100
18 Karat- 10,920
Gold Prices in Bengaluru Today (Per 1 Gram)
24 Karat - 14,253
22 Karat- 13,065
18 Karat- 10,690
Gold Prices in Mumbai Today (Per 1 Gram)
24 Karat - 14,253
22 Karat- 13,065
18 Karat- 10,690
Gold Prices in Pune Today (Per 1 Gram)
24 Karat - 14,253
22 Karat- 13,065
18 Karat- 10,690
Gold Prices in Kolkata Today (Per 1 Gram)
24 Karat - 14,253
22 Karat- 13,065
18 Karat- 10,690
| City | 24k Gold Per Gram | 22k Gold Per Gram | 18k Gold Per Gram |
| Gold Rate in Hyderabad | 14,253 | 13,065 | 10,690 |
| Gold Rate in Ahmedabad | 14,258 | 13,070 | 10,695 |
| Gold Rate in Indore | 14,258 | 13,070 | 10,695 |
| Gold Rate in Lucknow | 14,268 | 13,080 | 10,705 |
| Gold Rate in Coimbatore | 14,291 | 13,100 | 10,920 |
| Gold Rate in Bhubaneswar | 14,253 | 13,065 | 10,690 |
| Gold Rate in Mysore | 14,253 | 13,065 | 10,690 |
| Gold Rate in Kanpur | 14,268 | 13,080 | 10,705 |
| Gold Rate in Salem | 14,291 | 13,100 | 10,920 |
| Gold Rate in Visakhapatnam | 14,253 | 13,065 | 10,690 |
| Gold Rate in Vijayawada | 14,253 | 13,065 | 10,690 |
| Gold Rate in Patna | 14,258 | 13,070 | 10,695 |
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Silver Price Across Major Cities In India On July 17
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 235 per gram and Rs 235,000 per kg.
Silver Price In Bengaluru Today
The current silver price in Bengaluru stands at Rs 230 per gram and Rs 230,000 per kg.
Silver Price In Mumbai Today
The current silver price in Mumbai stands at Rs 230 per gram and Rs 230,000 per kg.
Silver Price In Pune Today
The current silver price in Pune stands at Rs 230 per gram and Rs 230,000 per kg.
Silver Price In Kolkata Today
The current silver price in Kolkata stands at Rs 230 per gram and Rs 230,000 per kg.
Silver Price Today in Major Indian Cities
| City | Per Gram | Per KG |
| Silver Rate in Hyderabad | 235 | 235,000 |
| Silver Rate in Ahmedabad | 230 | 230,000 |
| Silver Rate in Indore | 230 | 230,000 |
| Silver Rate in Lucknow | 230 | 230,000 |
| Silver Rate in Coimbatore | 235 | 235,000 |
| Silver Rate in Bhubaneswar | 235 | 235,000 |
| Silver Rate in Mysore | 230 | 230,000 |
| Silver Rate in Kanpur | 230 | 230,000 |
| Silver Rate in Salem | 235 | 235,000 |
| Silver Rate in Visakhapatnam | 235 | 235,000 |
| Silver Rate in Vijayawada | 235 | 235,000 |
| Silver Rate in Patna | 230 | 230,000 |
Frequently Asked Questions
Why did gold and silver prices decrease on Friday?
How did gold futures perform on the MCX?
On the Multi Commodity Exchange (MCX), gold futures for August delivery declined by Rs 248, or 0.18%, to Rs 1,40,100 per 10 grams. Analysts attributed this decline to subdued spot demand.
How do interest rates affect gold's appeal?
Higher borrowing costs typically reduce the appeal of non-yielding assets such as gold. This is because they increase their opportunity cost, making gold less attractive to investors.
What impact did the US dollar have on gold prices?
The US dollar slipped to a one-week low on Friday, making dollar-denominated gold cheaper for overseas buyers. This offered some support to global demand for gold.
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