July 16 Update: 18K, 22K & 24K Gold Prices Slide Modestly in Key Metros

By Newsroom TV Live | Jul 16, 2025, 10:50 IST

Gold prices continue to soften today, following broader global trends. Here’s a detailed breakdown of spot rates for 24‑, 22‑ and 18‑carat gold across major Indian cities, along with an analysis of what’s driving the momentum.

1. National Average Prices per Gram

24‑carat (pure): ₹9,928
22‑carat (jewellery grade): ₹9,100
18‑carat: ₹7,446

These mid‑₹9k and ₹7k levels reflect a modest dip from yesterday, with losses of roughly ₹49 for 24K, ₹45 for 22K, and ₹37 for 18K gold. This softening signals easing safe‑haven demand as global risk sentiment stabilizes.

2. City‑Wise Rates Today

City	24‑K	22‑K	18‑K
Delhi	₹9,943	₹9,115	₹7,458
Mumbai	₹9,928	₹9,100	₹7,446
Chennai	₹9,928	₹9,100	₹7,500
Kolkata	~₹9,928	~₹9,100	~₹7,446
Others (e.g., Bangalore, Hyderabad) likely mirror Mumbai’s ₹9,928/₹9,100/₹7,446 structure.

3. Daily Movement Analysis

24K: Down ~₹50/g (~0.5%)
22K: Same ₹45–50 drop
18K: Drop ~₹35–40/g

All segments have weakened slightly since yesterday, though the decline is modest. This is consistent across metros, from Chennai to Kolkata.

4. Why the Slight Dip?

Global cues: Eased US Treasury yields and mild dollar movement have tempered gold prices.
Local factors: Weakening premium and stable domestic demand have pulled prices downward.
International signals: Traders are anticipating moderate US data this week, easing inflation concerns and reducing demand for safe‑haven assets.

5. City‑Specific Observations

Delhi: Slightly higher 24K and 22K prices due to elevated retail premiums and higher local taxes.
Chennai: 18‑K remains slightly above national average (₹7,500), reflecting local demand for lightweight jewellery.
Mumbai/Bangalore/Hyderabad/Kolkata: All hovering around national average, with 24K at ₹9,928 and 22K at ₹9,100.

6. Pricing per 10 Grams

24‑K: ₹99,280
22‑K: ₹91,000
18‑K: ₹74,500–₹75,000 (Chennai ₹75,000)

For 100‑gram bars: 24K ~₹9.93 lakh, 22K ~₹9.1 lakh.

7. Month‑on‑Month & Year‑on‑Year Trends

Since mid‑June: 24K fallen ~₹150–200/g; 22K down ~₹135/g
Since January: Prices have moved higher, but recent stabilization follows earlier volatility

8. What This Means for Buyers & Investors

Jewellery shoppers: Today could be a slight buying advantage, with prices a bit lower from recent peaks.
Investors: Tailwinds have eased; momentum traders may pause for clarity in US inflation data.
Wedding & festival planners: With values stable, pre-booking or bulk buying may be less attractive until a clear trend emerges.

9. Premiums and Taxes

Alert for local variations:

Making charges: 7–15% on gold jewellery depending on craftsmanship
GST: 3% applicable
City Premiums: Delhi and Chennai often have slightly higher jewellery premiums vs metros like Mumbai

Bulk bullion buyers pay close attention to premium/tax layers above base rates.

10. Outlook: What to Watch Next

Global inflation data (US CPI, PPI) — could affect gold’s safe‑haven appeal
Federal Reserve commentary — dovish talk could lift metal prices
Indian demand signals — as wedding season ramps, consumption may surge
MCX futures – current August contracts hovering near ₹98 k/10 g; movements there can indicate market sentiment

11. Tips for Consumers

Track daily trends rather than isolated quotes — ₹50/g swing may reflect premiums, not gold value
Consider carat and use — 24K prized for purity; 22K standard for wearability; 18K good for ornamentation
Buy smart — plan for reduced premiums post festivals, negotiate making charges
Invest cautiously — use gold as portfolio diversification, not high-yield speculation

12. Summary

24‑K gold: ₹9,928/g (₹99,280/10g) – dip of ~₹49
22‑K gold: ₹9,100/g – down ~₹45
18‑K gold: ₹7,446–7,500/g (Chennai slightly higher at ₹7,500) – down ₹35–40

Rates are uniformly lower across metros, influenced by both global cues and domestic demand dynamics. Slight dip offers buying window, but global uncertainties may swing prices any day.

Looking Ahead

Gold is expected to remain range‑bound near current levels, unless a fresh catalyst emerges—like unexpected US inflation data or renewed jewellery demand. In that case, we could see either sharp upticks or further softening. For now, the modest decline signals a pause in momentum that reflects cautious investor and consumer sentiment.

Keep tracking daily rates, monitor MCX futures, and align buying decisions with your intent—whether investment, gifting, or personal wear.

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