Gold and Silver Prices Today 17 July: Gold and silver prices stayed volatile in both domestic and global arenas on Friday, as investors kept watching what’s happening in international bullion markets, crude oil quotes, the US dollar, and also interest rate expectations. Meanwhile, retail gold prices were still lingering close to fresh record levels across major Indian cities. While Multi Commodity Exchange (MCX) futures moved a bit cautiously after that softness seen in overseas markets.
MCX Gold and Silver Update
On the MCX, bullion futures remained under pressure following losses in international markets.
- MCX Gold: Around ₹1,42,633 per 10 grams.
- MCX Silver: ₹2,18,665 per kilogram.
Gold futures (August 5) opened at Rs 1,42,633, down Rs 845 or 0.58 per cent from the previous close of Rs 1,43,478. According to the news agency IANS report, the yellow metal fell as much as 1.33 per cent or Rs 1,921 to an intraday low of Rs 1,41,557 at around 10 am. Meanwhile, silver futures (September 4) declined as much as 2.41 per cent or Rs 5,387 to an intraday low of Rs 2,17,277. At the last count, the white metal was trading at Rs 2,18,665, down Rs 3,999, or 1.80 per cent. It recorded an intraday high of Rs 2,18,844.
Gold and Silver Prices Today 17 July
- 24K: ₹14,343 per gram
- 22K: ₹13,149 per gram
- 18K: ₹10,761 per gram
Mumbai
- 24K: ₹14,328 per gram
- 22K: ₹13,134 per gram
- 18K: ₹10,746 per gram
Chennai
- 24K: ₹14,345 per gram
- 22K: ₹13,149 per gram
- 18K: ₹10,969 per gram
- 24K: ₹14,328 per gram
- 22K: ₹13,134 per gram
- 18K: ₹10,746 per gram
Should Buyers Wait?
Experts seem to think short term volatility is going to keep showing up, at least for now, as global economic updates and central bank guidance shape the mood in markets. For the longer run, investors might want to keep an eye on both MCX futures and the physical bullion numbers. The retail jewellery prices can drift away from exchange traded levels because of duties assorted making charges and local premiums so the gap can be a bit harder to spot.
