Gold-Silver Rates: Gold prices continue to fall, dropping again today; silver price crosses the ₹2 lakh mark.
Gold-Silver Rates Today: Gold prices have declined today. Compared to yesterday, there has been a drop in the prices of 24-carat, 22-carat, and 18-carat gold. Conversely, however, silver prices are seeing a rise today.
Gold-Silver Rates Today (July 16): Amidst the deteriorating situation between the US and Iran, gold prices in the country are witnessing a decline once again today. Although gold has gained 0.37% in the international market (COMEX) today—trading at $4,066.80 per ounce—domestic markets have seen a 0.36% drop. Consequently, the price of 24-carat gold has come down to ₹1,42,220 per 10 grams. This marks a decrease of ₹510 compared to yesterday; on Wednesday, the price of 24-carat gold was ₹1,42,730 per 10 grams.
How much cheaper have 22-carat and 18-carat gold become?
Like 24-carat gold, the price of 22-carat gold has also dropped by ₹410 from yesterday's ₹1,31,410 per 10 grams, settling at ₹1,31,000 per 10 grams. The rate for 18-carat gold has also decreased; it fell by ₹380 compared to yesterday to reach ₹1,06,665 per 10 grams today (down from ₹1,07,045).
City-wise gold prices
| City | 24 Carat Gold Price (per 10 grams) | 22 Carat Gold Price (per 10 grams) |
|---|---|---|
| Delhi | ₹1,43,730 | ₹1,31,760 |
| Mumbai | ₹1,43,580 | ₹1,31,610 |
| Kolkata | ₹1,43,580 | ₹1,31,610 |
| Bengaluru | ₹1,43,580 | ₹1,31,610 |
| Chennai | ₹1,43,790 | ₹1,31,810 |
Why are gold prices falling?
Gold had recently reached record highs. Due to escalating military tensions between the US and Iran, large institutional investors (FIIs) and central banks have begun profit-booking at these high levels, causing prices to fall. Additionally, pressure on gold has mounted as investors withdraw funds from Gold ETFs to shift into liquid cash or the stock market.
Today's Silver Price
Today, July 16, the price of silver in India has risen by 1.16%, bringing the rate to ₹2,20,000 per kilogram. This translates to an increase of approximately ₹2,500 per kilogram in domestic markets. In the international market (COMEX), silver has also strengthened by 0.21%, trading at $59.23 per troy ounce.
