Gold, silver prices today: Check retail rates of 24K, 22K gold, 18K, 999 silver in Delhi, Mumbai, Kolkata, other cities

Gold and silver prices today, 15 July: The price of the yellow metal in India's retail market plunged on Wednesday to ₹142,170 per 10 grams, marking a drop of 0.57% or ₹820 at 9:10 AM, according to Bullion Association of India data. At the same time, 999 fine silver was down 0.47%, trading around ₹222,620 per kilogram.

Gold prices climbed more than 2% in the previous session, as rising oil prices fueled inflation concerns and investors weighed on non-yielding bullion amid uncertainty over hawkish US Fed outlook. The fluctuation in price of precious metals comes as oil prices extended gains to a third consecutive session supported by softer-than-expected US inflation data, easing concerns about an imminent Federal Reserve rate hike.

Even though US President Donald Trump withdrew Hormuz toll proposal but reinstatement of naval blockade on all Iranian ports heightened uncertainty over energy supply. Trump's threat injected fresh risk into the market as he warned of attacking Iran's power plants and bridges next week if Tehran does not resume negotiations.

Will gold come under pressure due to elevated oil prices?

"Trump continues to maintain the blockade of ships that is flowing out of the Strait of Hormuz, causing oil prices to rise and gold to come under pressure," Reuters quoted OANDA senior market analyst Kelvin Wong as saying.

According to Reuters report, elevated crude oil prices can stoke concerns around inflation and higher-for-longer interest rates. Notably, gold loses its appeal as a non-yielding asset in a high-interest-rate environment even though it is traditionally seen as an inflation hedge.

MCX gold rate on 15 July was trading 0.46% lower at ₹141,601 per 10 grams. MCX silver futures, on the other hand, were trading about 0.41% lower at ₹222,266 per kg at around 9:15 am. Notably, the yellow metal is down by more than a fifth since the West Asia war started in late February, with a wave of profit-taking ending a three-year bull run.

Gold Prices in New Delhi — 15 July

24 karat gold rate in New Delhi — ₹141,660/10 gm

22 karat gold rate in New Delhi — ₹129,855/10 gm

18 karat gold rate in New Delhi — ₹106,245/10 gm

Silver 999 Fine rate in New Delhi — ₹221,830/1 kg

Gold Prices in Mumbai — 15 July

24 karat gold rate in Mumbai — ₹141,860/10 gm

22 karat gold rate in Mumbai — ₹130,038/10 gm

18 karat gold rate in Mumbai — ₹106,395/10 gm

Silver 999 Fine rate in Mumbai — ₹222,100/1 kg

Gold Prices in Bengaluru — 15 July

24 karat gold rate in Bengaluru — ₹141,970.00/10 gm

22 karat gold rate in Bengaluru — ₹130,139/10 gm

18 karat gold rate in Bengaluru— ₹106,478/10 gm

Silver 999 Fine rate in Bengaluru — ₹222,270/1 kg

Gold Prices in Kolkata — 15 July

24 karat gold rate in Kolkata — ₹141,670/10 gm

22 karat gold rate in Kolkata — ₹129,864/10 gm

18 karat gold rate in Kolkata — ₹106,253/10 gm

Silver 999 Fine rate in Kolkata — ₹221,810/1 kg

Gold Prices in Hyderabad — 15 July

24 karat gold rate in Hyderabad — ₹142,080/10 gm

22 karat gold rate in Hyderabad — ₹130,240/10 gm

18 karat gold rate in Hyderabad— ₹106,560/10 gm

Silver 999 Fine rate in Hyderabad — ₹222,450/1 kg

Gold Prices in Chennai — 15 July

24 karat gold rate in Chennai — ₹142,320/10 gm

22 karat gold rate in Chennai — ₹130,460/10 gm

18 karat gold rate in Chennai— ₹106,740/10 gm

Silver 999 Fine rate in Chennai — ₹222,860/1 kg