Gold rates in India crashed on July 15 with 24 carat in 100 grams and 10 grams falling by Rs 1,100 and Rs 110 respectively. This comes after yellow metals surged by Rs 17,000 and Rs 1,700 in 100 grams and 10 grams from July 10th to July 14th. On July 16th, gold and silver prices will be influenced by the trend in US inflation, which has increased the most in five months in June 2025.
Gold prices in 100 grams slipped by Rs 1,100 in 24 carat and by Rs 110 in 10 grams. Currently, the prices are at Rs 9,97,700 in 24 carat of 100 grams and at Rs 99,770 in 10 grams. Gold prices are refraining from touching the Rs 1 lakh mark.
Also, 22 carat gold prices in 100 grams and 10 grams dropped by Rs 1,000 and Rs 100 to Rs 9,14,500 and Rs 91,450 on July 15.
The prices were lower by Rs 800 to Rs 7,48,300 in 18 carat, and down by Rs 80 to Rs 74,830 in 10 grams of the same.
Following the latest decline, gold prices have halted their five days winning streak. On July 14th, 100 grams of gold in 24 carat jumped by Rs 1,700, after a zero change in prices on July 13th. Gold was up by Rs 7,100 on July 12, further up by Rs 6,000 and Rs 2,200 on July 11 and July 10.
Together, the 100-gram gold price is up by Rs 17,000 in 24 carat from July 10th to July 14th. Also, 10 grams is up by Rs 1,700.
MCX Gold, Silver Prices:
MCX gold price with August 2025 expiry, stood at Rs 97,208 per 10 grams, down by Rs 3. While MCX silver price with September 2025 expiry, stood at Rs 1,11,525 per 1kg, up by Rs 39.
Gold Price Outlook On July 16:
"Gold prices stayed in a narrow range of Rs 97,750-Rs 98,050 as Comex gold traded positive near $3365 with a $20 rise. Continued tariff escalations by the US on global partners have kept uncertainty high, supporting safe-haven buying in gold. With US CPI data scheduled this week, traders remain cautious. Overall, gold is expected to remain volatile within the Rs 97,500-Rs98,500 range," said Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities.
Further, Manav Modi, Senior Analyst, Commodity Research at Motilal Oswal Financial Services Ltd said, U.S. President Donald Trump threatened to impose a 30% tariff on imports from Mexico and the European Union starting on August 1, after weeks of negotiations with the major U.S. trading partners failed to reach a trade deal. President Trump renewed his attacks on Fed Chair Jerome Powell, saying interest rates should be at 1% or lower. Markets are pricing in 50 bps of rate cuts by year-end, with the first reduction expected in September.
Meanwhile, along with domestic ETF flows, industrial demand, Modi added, "a catch-up rally post gold move since start of this year and up-move in industrial metals are some factors supporting the overall rally in Silver. After an all-time high, we could see some profit booking, also economic data from China has been reported lower than expectations weighing on industrial metals including Silver. Focus now shifts to US CPI, PPI, Retail sales and Industrial production data."
US CPI inflation rate jumped for the second consecutive month to 2.7% in June 2025, also recording its highest climb since February. Inflation was pushed up due to a spike in the cost of some goods. Additionally, the latest print suggests that the US tariff impacts have likely begun to unfold.
Spot Gold Price:
Gold prices hovered around $3,350 per ounce on Tuesday, trimming gains from earlier in the session but holding their strong momentum since retesting record highs throughout the second quarter amid uncertainty from tariffs and strong central bank buying. US President Trump sent a notification to 25 countries of new tariff rates set to take effect on August 1st, including major trading partners Canada, Mexico, and the EU, while making a political appeal by imposing tariffs on Brazil. Uncertainty regarding US economic policy continued to hamper the US dollar, driving central banks to increase their gold reserves instead of piling into the usual Treasury securities, as per Trading Economics.
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.
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