Gold and silver prices rose on Monday, supported by a weaker US dollar. This encouraged value buying by making dollar-priced bullion more affordable for buyers using other currencies.
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Gold Silver Rate Today (July 20): Metals Rise, Check Latest Rates In Delhi, Mumbai, Chennai, More
Gold and silver prices traded higher on July 20 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.
Despite Monday's rise, analysts believe the outlook for bullion continues to be shaped by inflation concerns and expectations of tighter US monetary policy.
Source : ABPLIVE AI
- Gold and silver prices rose Monday due to weaker dollar.
- High crude oil, expected Fed rate hike capped gains.
- MCX gold, silver futures posted significant gains today.
Gold Silver Rate Today: Gold and silver prices moved higher on Monday, supported by a weaker US dollar that encouraged value buying, although gains remained capped as elevated crude oil prices and expectations of another US Federal Reserve rate hike kept investors cautious.
On the Multi Commodity Exchange (MCX), gold futures for August delivery climbed as much as 0.52 per cent, or Rs 743, to touch an intraday high of Rs 1,41,649 per 10 grams at around 11:45 am. The contract later traded at Rs 1,41,254, up Rs 348 or 0.25 per cent, after hitting an intraday low of Rs 1,41,081.
Silver also advanced during the session. September futures on the MCX surged as much as 1.85 per cent, or Rs 4,005, to an intraday high of Rs 2,20,408 per kg. The contract later quoted at Rs 2,18,225, up Rs 1,822 or 0.84 per cent, after touching a low of Rs 2,17,804 earlier in the day.
In overseas trade, bullion prices were mixed. COMEX gold edged 0.24 per cent lower to $4,009.30 per ounce, while COMEX silver gained 0.88 per cent to $56.82 per ounce.
Market experts said the recent weakness in the US dollar provided support to precious metals by making dollar-priced bullion more affordable for buyers using other currencies, thereby improving global demand.
The dollar had slipped to a one-week low recently, helping gold and silver recover after a period of weakness.
Despite Monday's rise, analysts believe the outlook for bullion continues to be shaped by inflation concerns and expectations of tighter US monetary policy.
Crude oil prices remaining above $90 per barrel, amid escalating tensions in West Asia, have reinforced concerns that inflation could remain elevated. This has prompted investors to reassess the likelihood of another US Federal Reserve interest rate increase.
Higher borrowing costs generally reduce the appeal of non-yielding assets such as gold by increasing the opportunity cost of holding them, limiting the metal's upside even during periods of geopolitical uncertainty.
Commodity analysts expect MCX gold to remain supported above the Rs 1.41 lakh mark, with a sustained move beyond Rs 1.42 lakh likely to strengthen the recovery. Silver is also expected to maintain a positive bias if it continues to hold above the Rs 2.20 lakh level.
Although both precious metals posted gains on Monday, analysts noted that concerns over inflation and interest rates are likely to continue influencing price movements in the near term.
Also Read : India May Soon Cook With Ethanol Instead Of LPG As Government Drafts New Policy
Gold Rates Across Major Cities In India On July 20
Gold Prices in Delhi Today (Per 1 Gram)
24 Karat - 14,361
22 Karat- 13,165
18 Karat- 10,774
Gold Prices in Chennai Today (Per 1 Gram)
24 Karat - 14,346
22 Karat- 13,150
18 Karat- 10,965
Gold Prices in Bengaluru Today (Per 1 Gram)
24 Karat - 14,346
22 Karat- 13,150
18 Karat- 10,759
Gold Prices in Mumbai Today (Per 1 Gram)
24 Karat - 14,346
22 Karat- 13,150
18 Karat- 10,759
Gold Prices in Pune Today (Per 1 Gram)
24 Karat - 14,346
22 Karat- 13,150
18 Karat- 10,759
Gold Prices in Kolkata Today (Per 1 Gram)
24 Karat - 14,346
22 Karat- 13,150
18 Karat- 10,759
| City | 24k Gold Per Gram | 22k Gold Per Gram | 18k Gold Per Gram |
| Gold Rate in Hyderabad | 14,346 | 13,150 | 10,759 |
| Gold Rate in Ahmedabad | 14,351 | 13,155 | 10,764 |
| Gold Rate in Indore | 14,351 | 13,155 | 10,764 |
| Gold Rate in Lucknow | 14,361 | 13,165 | 10,774 |
| Gold Rate in Coimbatore | 14,346 | 13,150 | 10,965 |
| Gold Rate in Bhubaneswar | 14,346 | 13,150 | 10,759 |
| Gold Rate in Mysore | 14,346 | 13,150 | 10,759 |
| Gold Rate in Kanpur | 14,361 | 13,165 | 10,774 |
| Gold Rate in Salem | 14,346 | 13,150 | 10,965 |
| Gold Rate in Visakhapatnam | 14,346 | 13,150 | 10,759 |
| Gold Rate in Vijayawada | 14,346 | 13,150 | 10,759 |
| Gold Rate in Patna | 14,351 | 13,155 | 10,764 |
Silver Price Across Major Cities In India On July 20
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 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 | 235 | 235,000 |
| 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 | 235 | 235,000 |
| Silver Rate in Bhubaneswar | 235 | 235,000 |
| Silver Rate in Mysore | 235 | 235,000 |
| Silver Rate in Kanpur | 235 | 235,000 |
| 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 | 235 | 235,000 |
Frequently Asked Questions
Why did gold and silver prices increase on Monday?
What factors limited the gains in gold and silver prices?
Gains were capped by elevated crude oil prices and expectations of another US Federal Reserve rate hike. These factors reinforce inflation concerns and suggest tighter monetary policy.
What is the general outlook for bullion prices?
The outlook for bullion continues to be shaped by inflation concerns and expectations of tighter US monetary policy. These factors are likely to influence price movements in the near term.
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