Gold Rates In India, 16-07-2026: Gold Falls Up Rs 3,000; 24K, 22K, 18K Gold Prices In Major Cities; Why Yellow Metal Is Falling Today?

Gold rates in India dropped steeply on July 16th, despite crude oil prices falling from their pivotal 85 per barrel mark, which should have eased inflationary concerns. However, it was the additional strikes that US launched on Iran yesterday that had intensified economic uncertainty and heightened expectations of a rate hike sooner than expected. US dollar traded firm around 100.50. The 24-carat gold price dropped by at least Rs 2,800 in 100 grams, while 10 grams gold is below Rs 1,43,500 mark.

24 carat gold price dipped sharply by Rs 2,800 in 100 grams to Rs 14,32,900, while 10 grams gold is down by Rs 280 to Rs 1,43,290. Also, 8 grams gold is lower by Rs 224 to Rs 1,14,632 and 1 gram gold is down by RS 28 to Rs 14,329.

Furthermore, 22 carat gold price crashed by Rs 2,500 to Rs 13,13,500 per 100 grams and 10 grams gold here dropped by Rs 250 to Rs 1,31,350. Additionally, 8 grams gold is down by Rs 200 to Rs 1,05,080 and 1 gram gold is lower by Rs 25 to Rs 13,135.

Moreover, 18 carat gold price stood at Rs 10,74,700 which is down by Rs 2,000. While 10 grams gold price slipped by Rs 200 to Rs 1,07,470. Also, 8 grams gold declined by Rs 160 to Rs 85,976 and 1 gram gold is down by Rs 20 to Rs 10,747.

MCX Gold Price + MCX Silver Price

At the time of writing, MCX gold price slipped by Rs 622 or 0.44% to trade aorund Rs 1,41,228 per 10 grams, which is near its intraday low of Rs 1,41,000 per 10 grams.

Also, MCX silver plunged by Rs 1,611 or 0.73% to trade around Rs 2,19,009 per 1kg, which is near its day’s low of Rs 2,18,960 per 1Kg.

“Although the softer-than-expected US CPI data helped ease the Dollar Index and initially supported bullion, the recovery remained limited as traders continued to assess the Federal Reserve’s policy outlook. A sustained hold above the $4,000 level could encourage short covering and lift MCX Gold towards Rs 1,43,500 in the near term. Technically, Rs 1,39,500 remains the immediate support, while ₹1,43,500 is the key resistance zone for MCX Gold,” said Jateen Trivedi, VP Research Analyst – Commodity and Currency, LKP Securities.

Spot Gold Price + Spot Silver Price + Crude Oil Prices + US Dollar

Spot gold dipped nearly 1% to struggle around $4,030 per ounce, while spot silver plunged by 1.12% to barely maintain $57 per ounce.

On the contrary, crude oil prices witnessed mild selloffs but still they remained elevated. US WTI Crude Oil futures traded near $80 per barrel and Brent Crude stayed near $85 per barrel.

As per Trading Economics, the US carried out additional strikes against Iranian targets on Wednesday, though President Donald Trump said Tehran had signaled a willingness to resume negotiations. Meanwhile, the precious metal found some support from softer US inflation data, which eased concerns over a near-term Federal Reserve rate hike. Data released on Wednesday showed US producer prices unexpectedly declined in June for the first time in nearly a year, largely due to lower energy costs, following Tuesday’s weaker-than-expected consumer inflation report. However, June’s inflation figures did not reflect the impact of the latest escalation in the US-Iran conflict, as the interim peace agreement reached last month has effectively unraveled.

Gold Rates City-Wise