Gold and silver prices declined for the second consecutive day, weighed down by growing uncertainty surrounding potential US tariffs.
According to the India Bullion and Jewellers Association (IBJA), 24-carat gold dropped by ₹416 to ₹97,500 per 10 grams. Likewise, 22-carat gold slid to ₹89,310, and 18-carat gold dipped to ₹73,125. Silver also fell ₹797, now priced at ₹1,11,200 per kilogram.
Despite the dip in spot prices, futures remained in the green. On the Multi Commodity Exchange (MCX), gold futures for August 5 delivery rose 0.21% to ₹97,415. Silver futures for September 5 delivery increased 0.29% to ₹1,11,805.
Globally, prices showed a slight recovery. Gold on Comex climbed 0.27% to $3,345.60 per ounce, while silver advanced 0.34% to $38.24 per ounce.
&ldquo;Gold remains stuck in a consolidation zone between $3,300&ndash;$3,500. The market awaits a fresh trigger despite strong fundamentals,&rdquo; said Carsten Menke, Head of Economics at Julius Baer. He added that silver has seen renewed investor interest but may have reached its short-term potential.
All eyes are now on upcoming US data, including Producer Price Index (PPI) and jobless claims, which could influence market direction.
[Except for the headline, this article has not been edited by the Benefit News editorial team and is published directly from the IANS news feed.]

Gold, Silver prices fall amid US tariff fears; MCX futures defy the downtrend

Gold, Silver Prices Drop for 2nd Day

Gold, Silver prices fall amid US tariff fears; MCX futures defy the downtrend

July 17, 2025 | 14:40 IST