Gold rate on July 15
Gold prices saw some correction on July 15, after a strong rise. Gold’s August contracts on the Multi Commodity Exchange of India (MCX) opened at Rs 97,887 per 10 grams today.
Let’s check the latest prices of 10 grams of 22 carat and 24 carat gold in major cities of the country on July 15:
| City | Price of 24k gold | Price of 22k gold |
| Delhi | Rs 99,920/10g | Rs 91,600/10g |
| Mumbai | Rs 99,770/10g | Rs 91,450/10g |
| Chennai | Rs 99,770/10g | Rs 91,450/10g |
| Kolkata | Rs 99,770/10g | Rs 91,450/10g |
| Bengaluru | Rs 99,770/10g | Rs 91,450/10g |
| Jaipur | Rs 99,920/10g | Rs 91,600/10g |
| Lucknow | Rs 99,920/10g | Rs 91,600/10g |
| Hyderabad | Rs 99,770/10g | Rs 91,450/10g |
| Ahmedabad | Rs 99,820/10g | Rs 91,500/10g |
(According to data on Good Returns)
“Investors now await the upcoming datasets from the US like the Consumer Price Index data and the Producer Price Index report for cues into the Federal Reserve’s potential policy path. US President Donald Trump renewed his attacks on Fed Chair Jerome Powell, saying interest rates should be at 1 percent or lower. Gold’s attractiveness increases in a low-interest rate environment since it is a non-yielding asset,” said Prathamesh Mallya, Analyst of Non-Agri Commodities and Currencies at Angel One.
“U.S. President Donald Trump threatened to impose a 30% tariff on imports from Mexico and the European Union starting on August 1, after weeks of negotiations with the major U.S. trading partners failed to reach a trade deal. President Trump renewed his attacks on Fed Chair Jerome Powell, saying interest rates should be at 1% or lower. Markets are pricing in 50 bps of rate cuts by year-end, with the first reduction expected in September. Meanwhile, along with domestic ETF flows, industrial demand, a catch-up rally post gold move since start of this year and up-move in industrial metals are some factors supporting the overall rally in Silver. After an all-time high, we could see some profit booking, also economic data from China has been reported lower than expectations weighing on industrial metals including Silver. Focus now shifts to US CPI, PPI, Retail sales and Industrial production data,” said Manav Modi, Senior Analyst of Commodity Research at Motilal Oswal Financial Services.
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