Gold Rates & Silver Rates Today (23/07/2026) LIVE: MCX Gold Down Rs 1,000 & Silver Price Falls Rs 1,500 As Crude Oil Nears 97; Know 24K, 22K, 18K Gold Prices Today
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Gold rates and silver rates in India dropped sharply on Thursday, July 23, as market sentiments turned bearish due to rising crude oil prices amidst an intensifying situation between USA and Iran. Brent Crude and US WTI surged by 2-3% in the early hours and traded around $97 per barrel and $87 per barrel. The precious metals fell despite US Dollar sliding below 101, as traders weighed renewed inflationary pressures from surging energy prices.
At the time of writing, MCX gold price dropped below Rs 1,45,500 per 10 grams, and MCX silver plunged below Rs 2,25,900 per 1Kg.
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Also, spot gold is marginally down to trade around $4,125 per ounce and spot silver trades flat to near $60 per ounce. The US dollar edged lower and traded around 100.97.
While markets widely expect the Fed to hold rates steady at next week’s meeting, uncertainty has increased over the path of future policy amid unclear guidance from new Chair Kevin Warsh. Meanwhile, safe-haven demand helped limit further dollar losses as Middle East tensions remained in focus. President Donald Trump said the US would strike Iranian infrastructure in response to any attacks on vessels in the Strait of Hormuz, while Tehran vowed retaliation against regional energy and infrastructure targets. Elsewhere, attacks on Red Sea tankers, the first such incidents since late February, further raised concerns over a broader regional conflict and potential disruptions to global trade flows, as per Trading Economics.
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Jul 23, 2026, 10:35 am IST
Live Commodity Market: Why Natural Gas Prices Are Up?
Natural gas price has extend its rally, resumed on a positive note with gapped up today at 285.80 as escalating hostilities in the Middle East heightened concerns over Europe’s LNG security ahead of winter. Equinor has cautioned that Europe may not reach its 80% gas storage goal ahead of winter, increasing susceptibility to price volatility as colder weather approaches. Immediate resistance would be at 50-DEMA level placed at 291.30 and breakout of this level will boost the upward momentum. On the other side, crucial support would be at 281 – 275.90: Choice Broking.
Jul 23, 2026, 10:35 am IST
Live Crude Oil Prices Today: Why Oil Prices Are Rising?
MCX Crude oil August contract has resumed gapped higher at 8552. Price has settled sharply higher on Wednesday, posting a 6-week high. Threats to global oil supplies are boosting crude oil prices as escalation of the US-Iran war has curbed oil tanker traffic through the Strait of Hormuz and threats by Houthi militants to blockade Saudi Arabia have reduced oil tanker traffic through the Red Sea. Crude prices fell from their high on Wednesday after weekly EIA crude and gasoline inventories unexpectedly increased. Key support for today’s session would be at 8075 and 8200 and on the other hand, resistance would be at 8650 – 8740: Aamir Makda, Commodity & Currency Analyst, Technical Research at Choice Broking.
Jul 23, 2026, 10:35 am IST
Live Gold Rates Today: Middle East Crisis Topples Precious Metals
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Jul 23, 2026, 10:30 am IST
Live Commodity Market: MCX Crude Outperforms, Zinc, Natural Gas, Copper Gains But Precious Metals Down
At MCX, crude oil outperformed with over 1.5% gains, while zinc and natural gas surged nearly 1% each. Copper and lead are also up. However, precious metals like gold and silver are top losers.
Jul 23, 2026, 10:27 am IST
Live Silver Rates Today: MCX Silver Falls Rs 1,400
MCX silver price nosedived by Rs 1,400 to trade around Rs 2,25,599 per 1Kg, which is near it’s day’s low of Rs 2,25,581 per 1Kg.
Jul 23, 2026, 10:26 am IST
Live Gold Rates Today: MCX Gold Price Crashes Rs 1,000
MCX gold price dropped by nearly Rs 1,000 to hit an intraday low of Rs 1,46,034 per 10 grams. The bullion continues to trade near its day’s low.
