Cooler US inflation and a sliding dollar lift Indian gold sharply, 24K climbs Rs 7,700 per 100 grams

Gold prices in India rallied hard on 15 July 2026 as the US dollar slipped and US CPI data came in softer than expected. 24 carat gold jumped Rs 7,700 per 100 grams to Rs 14,35,700.

After two straight days of losses, gold prices in India bounced back strongly on 15 July 2026. The rally was driven mainly by a weaker US dollar and softer-than-expected US CPI, the consumer inflation reading. On the day, 24 carat gold rose by at least Rs 7,700 per 100 grams, pushing the 10 gram rate to around the Rs 1,43,500 mark. That said, elevated crude oil prices and a rupee still under pressure kept a lid on how far this safe haven could climb.

Interestingly, the picture on the futures market was different. On MCX, gold traded under pressure below Rs 1.42 lakh, while MCX silver slipped below the Rs 2.23 lakh level. Both moves mirrored the cautious and volatile tone in spot gold and silver. Looking back, between 13 and 14 July, 24 carat gold had fallen by Rs 15,300 per 100 grams and Rs 1,530 per 10 grams. Against that backdrop, Wednesday's jump was the first gain of the current week.

24 carat gold rates today
In the purest 24 carat category, 100 grams surged by Rs 7,700 to Rs 14,35,700, while 10 grams rose by Rs 770 to Rs 1,43,570. Smaller weights moved too: 8 grams gained Rs 616 to Rs 1,14,856, and 1 gram added Rs 77 to Rs 14,357.

22 carat gold rates today
For 22 carat gold, the metal most often used in jewellery, the 10 gram rate climbed Rs 700 to Rs 1,31,600, while 100 grams shot up Rs 7,000 to Rs 13.16 lakh. In the same category, 8 grams advanced Rs 560 to Rs 1,05,280 and 1 gram rose Rs 70 to Rs 13,160.

18 carat gold rates today
18 carat gold also posted solid gains. Here 100 grams jumped Rs 5,700 to Rs 10,76,700, while 10 grams soared Rs 570 to Rs 1,07,670. On top of that, 8 grams gained Rs 456 to Rs 86,136 and 1 gram added Rs 57 to Rs 10,767.

MCX gold and silver
In early trade on 15 July, MCX gold dropped by nearly Rs 800 and traded around Rs 1,41,500 per 10 grams. Notably, this decline came despite the fall in the US dollar and the softer-than-expected US CPI inflation rate. MCX silver, meanwhile, plunged a little over Rs 900 to trade around Rs 2,22,286 per 1 kg, after touching an intraday low of Rs 2,21,046 per 1 kg on cautious market trends.

Going by the evening session on 14 July, MCX gold had settled near Rs 1,42,500 per 10 grams and MCX silver stayed above the Rs 2.23 lakh per 1 kg level. Over the same stretch, MCX crude oil also gained more than 2.3 per cent.

What the analyst view says
According to Jateen Trivedi, VP Research Analyst for Commodity and Currency at LKP Securities, sentiment remains cautious despite the bounce, because higher crude oil prices and a firm US dollar continue to cap the upside in bullion. He added that a stronger-than-expected inflation reading could reinforce the Federal Reserve's hawkish stance, strengthening the dollar and pressuring gold further, while softer inflation may provide support by raising expectations of steady interest rates. In the near term, he expects gold to stay highly volatile ahead of the inflation data.

Spot gold, silver, crude and the dollar
Even with US inflation cooling, spot gold and silver traded cautiously and remained volatile. In early trade, spot gold stood around $4,039 per ounce, down $15.2 or 0.4 per cent, while spot silver was broadly flat around $58.64 per ounce.

Crude oil told a different story. Brent Crude surged more than 1.52 per cent to trade above $86 per barrel, and US WTI Crude Oil futures rose 1.22 per cent to trade above $80 per barrel. At the same time, the US dollar weakened further to slip below the 101 mark after the US CPI print, which should lend support to gold and silver.

US inflation and the Federal Reserve
Annual US inflation eased to 3.5 per cent in June from 4.2 per cent in May, coming in below forecasts of 3.8 per cent as lower oil prices helped moderate energy inflation. Consumer prices also fell 0.4 per cent from the previous month, the first monthly decline since 2020. During congressional testimony on Tuesday, Fed Chair Kevin Warsh reiterated the central bank's commitment to restoring price stability but stopped short of signaling a more hawkish policy stance. Markets are still pricing in roughly a 50 per cent chance of a Fed rate hike in September, as renewed tensions between the US and Iran lifted oil prices and kept inflationary pressures in focus.

Delhi, Mumbai and Kolkata rates
On 15 July, 10 grams of gold stood at Rs 1,43,570 in 24 carat, Rs 1,31,800 in 22 carat and Rs 1,07,670 in 18 carat, the same levels seen in Mumbai and Kolkata. Rates were mildly higher in Delhi, where 10 grams was priced at Rs 1,43,720 in 24 carat, Rs 1,31,750 in 22 carat and Rs 1,07,820 in 18 carat.

Chennai, Hyderabad, Bengaluru and Kerala rates
Gold was most expensive in Chennai compared with cities like Mumbai, Delhi, Hyderabad, Kolkata, Pune, Bengaluru, Kerala and Ahmedabad. There, 10 grams of gold was available at Rs 1,43,780 in 24 carat, Rs 1,31,800 in 22 carat and Rs 1,10,000 in 18 carat. In Hyderabad, Kerala and Bengaluru, 10 grams stood at Rs 1,43,570 in 24 carat, Rs 1,31,800 in 22 carat and Rs 1,07,670 in 18 carat.

Per gram rates in major cities
In Chennai, today's gold price is Rs 14,378 per gram for 24 carat (99.9 per cent purity), Rs 13,180 per gram for 22 carat (91.6 per cent purity) and Rs 11,000 per gram for 18 carat (75 per cent purity).

In Mumbai, the rate is Rs 14,357 per gram for 24 carat, Rs 13,160 per gram for 22 carat and Rs 10,767 per gram for 18 carat. In Delhi, it stands at Rs 14,372 per gram for 24 carat, Rs 13,175 per gram for 22 carat and Rs 10,782 per gram for 18 carat.

In Kolkata, gold is priced at Rs 14,357 per gram for 24 carat, Rs 13,160 per gram for 22 carat and Rs 10,767 per gram for 18 carat. Bengaluru mirrors this at Rs 14,357 per gram for 24 carat, Rs 13,160 per gram for 22 carat and Rs 10,767 per gram for 18 carat, and Hyderabad too stands at Rs 14,357 per gram for 24 carat, Rs 13,160 per gram for 22 carat and Rs 10,767 per gram for 18 carat.

What this means for you
• Across India: The sharp rise makes buying jewellery and investment gold costlier, with 24 carat 10 grams now at Rs 1,43,570.
• In Chennai: Gold is the most expensive here among major cities, with 18 carat 10 grams reaching Rs 1,10,000, so local buyers pay more.
• For investors: Analysts expect gold to stay highly volatile in the near term, so watch the rates closely before buying or selling.

Questions & Answers

1. Why did gold jump on 15 July 2026?
Gold rose on a weaker US dollar and softer-than-expected US CPI inflation data, marking the first gain after two days of losses.

2. What was the 24 carat 10 gram gold rate?
24 carat 10 grams rose Rs 770 to Rs 1,43,570, while 100 grams jumped Rs 7,700 to Rs 14,35,700.

3. Which city had the most expensive gold?
Gold was most expensive in Chennai, where 24 carat 10 grams reached Rs 1,43,780 and 18 carat reached Rs 1,10,000.

4. How did MCX gold and silver perform?
In early trade, MCX gold fell nearly Rs 800 to around Rs 1,41,500 per 10 grams, and silver dropped over Rs 900 to about Rs 2,22,286 per 1 kg.

5. What was the US inflation rate?
Annual US inflation eased to 3.5 per cent in June from 4.2 per cent in May, below the forecast of 3.8 per cent.

6. What is the near-term outlook for gold?
According to analyst Jateen Trivedi, high crude prices and a firm dollar are capping the upside, and gold is expected to stay highly volatile in the near term.

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