Gold prices saw a slight uptick today but remain close to yesterday’s levels. As of 10 am on July 18, the Multi Commodity Exchange of India Ltd (MCX) listed 24-carat gold at ₹97,505 per 10 grams and 22-carat gold at ₹89,577 per 10 grams.
The bullion rate of the yellow metal stands at ₹97,720 for 24-carat gold and ₹89,751 for 22-carat gold for every 10 grams, marking a 0.02 per cent rise from yesterday’s close.
Gold prices had hit record high in June 2025, amidst the fury of the then ongoing Israel-Iran attacks. The yellow metal had touched prices as high as ₹1,00,314 per 10 grams on June 16.
After Israel began its deadly strikes on Iran on Jun 13, gold prices soared high for over a period of nearly two weeks. On Jun 12, the day before the attack, the MCX gold index was priced at ₹98,110 for every 10 grams.
In the current scenario, US President Donald Trump had imposed reciprocal tariffs on multiple countries since July 7. Laos and Myanmar have been burdened with the highest tariff rates, with trade talks ongoing, between India and USA.
Trump also extended the pause on a separate group of reciprocal tariffs, delaying trade talks until at least August 1, though he iterated that the date might still be flexible.
About US and other countries on tariff discussions, US Treasury Secretary Bessent stated that US-China talks were in a “very good place”.
Last week, US Secretary of State Marco Rubio and Chinese Foreign Minister Wang Yi met in Malaysia on the sidelines of an Association of Southeast Asian Nations (ASEAN) gathering, with both sides later describing the meeting as “constructive”, said a SCMP report.
Here are the gold rates for July 16, 2025, in India’s major cities
| Indian cities | MCX gold rate(24 carat per 10 grams) | MCX silver rate(999 Fine per 10 grams) | Gold bullion rate(24 carat per 10 grams) | Silver bullion rate(999 Fine per kg) |
|---|---|---|---|---|
| Kolkata | ₹97,630 | ₹1,126 | ₹97,590 | ₹112,610 |
| Mumbai | ₹97,760 | ₹1,127.5 | ₹97,730 | ₹112,770 |
| Hyderabad | ₹97,920 | ₹1,129.2 | ₹97,890 | ₹112,950 |
| New Delhi | ₹97,590 | ₹1,125.5 | ₹97,570 | ₹112,580 |
| Chennai | ₹98,040 | ₹1,130.7 | ₹98,020 | ₹113,100 |
| Bengaluru | ₹97,840 | ₹1,128.3 | ₹97,810 | ₹112,860 |
Among the above cities, MCX and bullion gold prices stand highest in Chennai and lowest in New Delhi.
As of 10.26 am on July 18 IST, MCX quoted silver rates at ₹1,12,738 per kilogram, indicating a 0.36 per cent drop from yesterday.
The bullion rate of the white metal is ₹1,12,950 per kilogram at 10.27 am on Jul 18, IST, standing at a 0.31 per cent lower slab to that of yesterday’s close.