Gold Rate In India Jumped By Rs 15,300 In 3 Days; Check 24K, 22K, 18K Gold Prices; Gold Outlook For July 14-20

Gold rates in India have jumped sharply for three days straight from July 10th to 12th, with 24 carat of 100 grams rising by a whopping Rs 15,300. Last week, gold and silver prices gained momentum late, with silver outperforming the yellow metal. Gold and silver prices surged after US President Donald Trump announced new tariffs on numerous countries, which will take effect on August 1, 2025.

From July 14th to July 20th, gold prices are likely to be influenced by US interest rates, trade tensions, and the probability of weakness in the dollar. In the coming week, gold and silver can trade in a wide range of 94000-102000 levels and 105000-118000 levels respectively.

Gold Prices In India:

The price of gold in India is currently at Rs 9,971 per gram for 24 karat gold, Rs 9,140 per gram for 22 karat gold and Rs 7,479 per gram for 18 karat gold (also called 999 gold).

100 grams of gold prices stood at Rs 9,97,100 in 24 carat, at Rs 9,14,000 in 22 carat and at Rs 7,47,900 in 18 carat.

Meanwhile, 10 grams of gold prices were at Rs 99,710 in 24 carat, at Rs 91,400 in 22 carat, and Rs 74,790 in 18 carat.

On July 12th, 100 grams and 10 grams gold rates climbed by Rs 7,100 and Rs 710 in 24 carat. The prices were up by Rs 6,000 and Rs 600 on July 11th. While 100 grams and 10 grams of gold surged by Rs 2200 and Rs 220 on July 10th.

Together, 100 grams and 10 grams of gold rates zoomed by Rs 15,300 and Rs 1,530 from July 10-12. Overall, so far in July, gold rates are up by 1.3%.

Gold prices in India tracked the performance in the international market.

"Gold prices rose to about $3,330 per ounce on Friday, marking a third consecutive session of gains as investors sought safety amid mounting trade tensions and fresh policy risks. President Trump unveiled a steep 35% tariff on Canadian imports effective August 1 and signalled new blanket tariffs of 15-20% on most other trading partners, adding to prior threats on Brazil and key commodities. Trump's push for a massive 300 basis-point Fed rate cut fueled speculation of a dovish central bank shift, raising concerns about future inflation. Meanwhile, robust labour data kept near-term rate cut bets intact but pointed to a solid economy overall," said Ajay Kedia, Founder and Director of Kedia Capital Services.

MCX Gold, Silver Prices:

MCX Gold ended at Rs 97,830 per 10 grams on July 11th, up by Rs 12 or 0.01%. Surprisingly, MCX silver touched a new all-time high of Rs 1,13,111 per 1kg, rising by Rs 3,988 or 3.65%.

Gold And Silver Prices Weekly Outlook For July 14 To July 20:

According to SMC Securities' weekly report, last week, market was nervous amid many announcements on tariff front from US. Trump began releasing letters outlining steep trade tariffs against major trading partners. In the bullion market, both gold and silver caught the rally later, however, silver clearly outperformed gold. The upside of gold was limited as Trump postponed his effective tariff date to August 1, sustaining some hopes that Washington will sign more trade deals.

"Bullion prices posted solid weekly gains as gold rose nearly 1% and silver advanced over 2% on MCX, supported by robust safe-haven demand amid fresh global trade tensions. President Donald Trump announced a steep 35% tariff on Canadian imports effective August 1 and signalled plans for additional blanket tariffs of 15-20% on most other major trading partners," SMC's note added.

This came after earlier threats of new duties targeting Brazil and proposed tariffs on copper, semiconductors, and pharmaceuticals, further rattling global trade sentiment. Adding to the volatility, Trump called for a massive 300 basis point cut in the Fed funds rate, fueling speculation that a dovish nominee might be appointed to the Federal Reserve next year and raising longer-term inflation worries.

Furthermore, SMC's note highlighted that U.S. economic data showed resilience: initial jobless claims fell for the fourth consecutive week, beating forecasts and signalling continued strength in the labor market after a solid non-farm payrolls report. Despite this, markets continue to price in two rate cuts this year, though Fed funds futures still indicate a likely hold at the upcoming policy meeting. Chicago Fed President Austan Goolsbee reiterated that the Fed's mandate is to manage inflation and employment, not government debt costs.

That being said, "Silver prices surged above $37 per ounce on COMEX - their highest level in over 13 years - as rising trade tensions strengthened safe-haven buying."

On the technical side, SMC's note added, COMEX gold is facing resistance near $3470 with support around $3250, and it could retest resistance levels in the coming sessions. Silver may trade between $37-42. Domestically, MCX gold is expected to trade in the Rs.94,000-1,01,500 range, while silver may fluctuate between Rs.1,04,000-1,14,000 in the week ahead.

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