Gold Price In India Today, 18 July: 24K/100 Grams of Gold Rises By Rs 500; Silver Prices Drop

Gold Price Today: Gold prices in India went up slightly today, marking the second day of gains after falling for two straight days earlier in the week. This rise comes as strong economic data from the US has eased concerns about a possible interest rate cut by the Federal Reserve, which supports gold prices.

On Friday, July 18, the price of 24-carat gold increased by Rs 500 for 0 grams. With this change, the rate for 10 grams of 24-carat gold now stands at Rs 99,380. This small rise reflects improved investor confidence and global trends supporting gold as a safe investment option.

Gold Price Today In India:

The price of 24-carat gold in India increased by Rs 50 per 10 grams to Rs 99,380. Similarly, the price of 22-carat gold moved up by Rs 50 to Rs 91,100 per 10 grams. The 18-carat gold rate also rose by Rs 40, now at Rs 74,540 per 10 grams as of Friday. The 1-gram variant of 24-carat, and 22-carat gold increased by Rs 5 to cost it at Rs 9,938 and Rs 9,110 while the 1 gram of 18-carat gold moved up by Rs 4 to cost at Rs 7,454.

Meanwhile, the price of 100 grams of 22-carat gold is now Rs 9,11,000 after rising by Rs 500. For 24-carat gold, 100 grams now costs Rs 9,93,800, up by Rs 500. Also, the 18-carat gold in 100 grams is now available at Rs 7,45,400 up by Rs 400.

Silver Rate in India Today:

Silver prices in India went down on Friday, July 18 as against the rise in gold prices. The price of silver decreased by Re 1 to Rs 1139 for 10 gram and by Rs 100 to Rs 1,13,900 per kilogram.

Gold and Silver Futures Prices on MCX:

Gold futures prices at the multi-commodity exchange (MCX) witnessed minor gains today. Gold futures, which are expected to mature on August 5, surged by 87 points or 0.09% and are currently trading at Rs. 97,560 per 10 grams. Similarly, silver futures slated to mature on September 5 rose marginally by 301 points or 0.27% to trade at Rs 1,12,635 at the time of writing.

Market Outlook for Gold Prices:

"Gold prices in India moved up as investors assessed mixed signals from the latest U.S. economic data and awaited further clarity on President Trump's evolving trade policy direction. U.S. consumer prices rose in June by the most in five months, underscoring the impact of new tariffs and fueling expectations that the Federal Reserve may hold rates steady at least until September to manage any tariff-driven inflation pressures.

Physical gold demand across Asia, however, remained muted as price volatility deterred fresh buying, though tighter local supplies helped narrow discounts in India to up to $8 per ounce, from last week's wider spread," said Ajay Kedia, Director of Kedia Advisory.

"Technically, gold is under short covering as open interest dropped by 0.9% to 10,624 while prices rose by 577. Immediate support is now at 97,160, with a break below potentially testing 96,530. On the upside, resistance is likely at 98,350, and a sustained move above this level could open the path to test 98,910 in the near term," added Ajay Kedia of Kedia Advisory.

Spot Gold Prices + Spot Silver Price Today:

According to the latest update, Spot gold is marginally down by 0.07% or 2.7 points trading at $3,336.92 an ounce, as of 11.10 GMT, gaining from the previous session as optimism over trade developments increased the metal's safe-haven appeal.

Meanwhile, spot silver is also marginally up by 0.03% to $38.15 an ounce, gaining support from a weaker dollar amid new tariff disputes.

Disclaimer
The recommendations made above are by market analysts and are not advised by either the author, nor Greynium Information Technologies. The author, nor the brokerage firm nor Greynium would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.