Gold rates in India surged sharply in the past few days. Now, the price of 10 grams of gold is above Rs 1 lakh and is nearing an all-time high.
While 100 grams of 24-carat gold is just Rs 16,400 away from its peak level. In the week ahead, gold may trade between Rs 95,500 and Rs 99,900 and silver between Rs 104,000 to Rs 116,000.
Gold Prices In India:
The 10-gram gold price is currently at Rs 100,040, while the 100-gram gold price is at Rs 1,000,400 in 24-carat gold. That being said, the 24-carat gold price is just Rs 1,640 and Rs 16,400 away from hitting record highs of Rs 101,680 and Rs 1,016,800 in 10 grams and 100 grams, respectively.
Furthermore, 22-carat and 18-carat gold prices are also nearing their record highs.
10 grams and 100 grams of gold prices in 22 carat at Rs 91,700 and Rs 917,000. Meanwhile, the prices of 10 and 100 grams of gold in 18 carat are Rs 75,030 and Rs 750,300.
Gold, Silver Prices Weekly Outlook:
In the commodity market, the performance saw a mixed trend. SMC Global Securities cited that the CRB index traded within a range, closing near 374. The Dollar Index found support around 96.33 and rose to 99, buoyed by the Federal Reserve’s indication that interest rate cuts are not imminent, along with fresh buying interest.
As per SMC’s weekly note, bullion prices registered their first weekly decline in three weeks, as robust US economic data reduced the urgency for the Federal Reserve to cut interest rates soon. June retail sales rebounded more than expected, and weekly initial jobless claims dropped to a three-month low, signalling continued resilience in the US economy despite ongoing tariffs. Meanwhile, June’s flat US PPI suggested steady wholesale prices, indicating tariffs may be having less impact than feared, contrasting with the uptick in June’s CPI.
On the global trade front, the brokerage added, the EU’s top trade negotiator visited Washington for tariff discussions, while US-China tensions eased with the lifting of the AI chip ban and a fresh trade deal with Indonesia, dampening gold’s safe-haven appeal. Reflecting the economic strength, Fed Governor Adriana Kugler noted that keeping rates steady for now is appropriate, although San Francisco Fed President Mary Daly still sees scope for two rate cuts this year.
Despite this, central banks continue to diversify into gold instead of piling into US Treasuries due to policy uncertainty. Surveys show that central banks added a net 20 tonnes of gold in May, led by Kazakhstan, Turkey, Poland, and Singapore.
Meanwhile, President Trump’s plan to notify over 150 trade partners of their tariff rates and persistent geopolitical risks like the Russia-Ukraine conflict and Middle East unrest continue to support gold’s appeal as a safe-haven asset.
Technically, it added, COMEX Gold faces resistance near $3470 and support near $3280. Silver may trade in a broader range of $36-$40; a break above $40 could open up to $42. Ahead, MCX Gold may trade between Rs 95,500-99,900 and Silver between Rs 1,04,000-1,16,000.
MCX Gold, Silver Prices:
Last week, on July 18th, MCX gold price with August 2o25 expiry is at Rs 98,015 per 10 grams, up by Rs 542 or 0.56%. Also, MCX gold price, with September 2025, ended at Rs 1,12,935 crore, down by Rs 15 or 0.01%.
Spot Gold Price:
Gold prices traded around $3,340 per ounce on Friday, on track for its first weekly loss in three, as strong US economic data reduced the urgency for the Fed to cut interest rates. Retail sales rebounded more than expected in June, while weekly initial jobless claims unexpectedly fell to a three-month low-both signaling resilience in the economy despite the impact of tariffs, as per Trading Economics.