Gold prices experienced continued volatility on Saturday, July 18, 2026, with MCX gold August futures contract dropping ₹661 to ₹1,41,189 per 10 grams at around 11 am, representing a 0.47% decline in futures trade. According to GoodReturns, the latest drop came amid weaker spot demand for the precious metal. On the Multi Commodity Exchange, yellow metal contracts for August delivery traded lower by ₹661, or 0.47 per cent, at ₹1,41,189 per 10 grams in a business turnover of 1,026 lots. The day's low and high-prices stood at ₹1,41,000 and ₹1,41,433 per 10 gm, respectively, while in the previous session, the contract ended at ₹1,41,850. Globally, spot gold remained under pressure and was down by 0.8% at $4,027.54 per ounce, as reported by GoodReturns, while US gold futures for August delivery traded in the red, down 0.46% at $4,033.27 per ounce. This follows Wednesday's decline when MCX gold August futures dropped ₹248 to ₹1,40,100 per 10 grams, showing continued volatility in precious metals markets.
Gold and silver prices experienced a significant decline on Wednesday, with gold futures opening lower at ₹1,41,148 per 10 grams on MCX and silver futures opening at ₹2,21,926 per kg. According to Business Standard, the weakness came as surging crude oil prices reignited inflation worries and dampened hopes of U.S. rate cuts, weighing on demand for precious metals. Spot gold fell 0.5% to $4,035.67 per ounce and U.S. gold futures for August delivery slipped 0.7% to $4,042.20 as of 0300 GMT. The decline reversed gains from the previous session when gold and silver had closed higher on the back of softer-than-expected US inflation data. Oil prices extended gains for a third straight session after U.S. President Donald Trump reimposed a naval blockade on all Iranian ports and warned that power plants and bridges could be targeted next week unless Tehran returns to negotiations. As per Mint, MCX gold rate on 15 July was trading 0.46% lower at ₹141,601 per 10 grams, while MCX silver futures were trading about 0.41% lower at ₹222,266 per kg at around 9:15 am. According to The Hindu BusinessLine, spot silver fell 1.1% to $57.14 per ounce, while platinum eased 0.6% to $1,664 and palladium edged 0.3% lower to $1,309.86. Gold prices were on track for its biggest weekly decline since early June, with bullion edging higher on Friday to trade near $3,980 an ounce but remaining down 3.4% for the week.
Gold prices in India surged on Saturday, July 18, 2026, after crashing by at least ₹10,400 in 24 carat for the past two consecutive days. According to GoodReturns, 24-carat gold price soared by ₹7,600 to ₹1,43,290 per 10 grams, while 10 grams gold jumped by ₹760 to ₹1,43,290. In major cities, Chennai reported the highest gold prices at ₹1,43,460 per 10 grams, closely followed by Delhi at ₹1,43,440, while Mumbai, Kolkata, Hyderabad, and Bangalore all reported similar price levels with 24-carat gold ranging from ₹1,43,290 to ₹1,43,460 per gram across different purity levels. 8 grams gold is lower by ₹224 to ₹1,14,632 and 1 gram gold is down by ₹28 to ₹1,4329 for 24-carat gold, while 1 gram gold is down by ₹25 to ₹1,3135 for 22-carat gold. 22-carat gold price gained by ₹7,000 in 100 grams to ₹1,31,350 per 10 grams, while 10 grams gold here climbed by ₹700 to ₹1,31,350. 18-carat gold, 100 grams surged by ₹5,700 to ₹1,07,470, with 10 grams gold advancing by ₹570 to ₹1,07,470. On Friday, July 17, 2026, 24K gold was quoted at ₹1,40,790 per 10 grams at the India level, while silver 999 fine was at ₹2,16,040 per kg as of 06:35 am, according to bullions.co.in. Chennai reported the highest gold prices, closely followed by Hyderabad and Bengaluru, with 24K gold prices ranging from ₹1,40,290 in Delhi to ₹1,40,950 in Chennai.
Unlike gold, silver prices were unchanged on Saturday, July 18, 2026. According to GoodReturns, 1Kg silver is at ₹2.30 lakh, while 100 grams and 10 grams silver stood at ₹23,000 and ₹2,300 respectively. 8 grams and 1 gram silver is at ₹1,840 and ₹230. The flat performance of silver contrasts with the recovery in gold prices, reflecting different market dynamics and investor sentiment toward the two precious metals.
Market experts attribute the latest recovery to overnight surge in the MCX and COMEX bullion markets, with spot gold reclaiming its $4,000 mark. However, as per LKP Securities, the rebound has been modest as overall sentiment remains cautious amid lingering US-Iran geopolitical tensions, elevated crude oil prices, and uncertainty over the Federal Reserve's policy outlook. Although gold is showing signs of short covering from lower levels, the broader trend remains volatile to weak until stronger global cues emerge. Technically, MCX Gold is expected to trade in the ₹1,39,000-1,42,000 range in the near term, according to LKP Securities. Jateen Trivedi, VP Research Analyst at LKP Securities, noted that market participants will continue to track developments in West Asia, the US dollar, and upcoming US economic data for fresh direction. In the near term, gold price direction will be influenced by economic indicators, global market sentiment, central banks' gold-buying activity, and policy action. The current volatility reflects ongoing concerns about elevated crude oil prices, which will impact the energy market and further escalate the chances of interest rate hikes in the upcoming central bank policies.
