Gold prices edge higher, silver remains volatile; check latest rates in Mumbai, Delhi, Chennai and Bangalore

On the Multi Commodity Exchange (MCX), gold and silver fell on Friday, the final trading session of July, even though domestic retail gold prices edged up slightly across 24‑karat, 22‑karat and 18‑karat grades. The divergent movement reflects global market turbulence, a firmer US dollar and shifting views on the upcoming US Federal Reserve policy.

During early trade on the MCX, gold futures slipped to about ₹1,42,600 per 10 grams and silver futures dropped close to ₹2,19,200 per kilogram. The pullback stemmed from softer global bullion prices, with traders taking profits after recent rallies.

Even with futures down, retail gold prices in India nudged upward. The latest quotes show 24‑carat gold at ₹1,44,600 per 10 grams, 22‑carat at ₹1,32,550 per 10 grams and 18‑carat at ₹1,08,450 per 10 grams. Retail silver also held firm, despite the dip in futures.

Globally, spot gold weakened as a stronger US dollar dampened investor appetite. Yet the metal is still poised for its first monthly rise in five months, buoyed by geopolitical tensions and bargain‑hunting activity. Traders continue to watch the US Federal Reserve’s policy stance, as anticipation of a rate hike can sway bullion prices.

Analysts warn that gold may stay volatile in the short term, with market participants keeping an eye on worldwide economic indicators, central‑bank moves and geopolitical events—factors that can shift demand for the safe‑haven metal.