Gold Rate In India Crashes Rs 35,560 From Peak, Silver Rate Drops 44%; Key Factors On 24K, 22K, 18k Gold Ahead

Gold rates in India and silver prices are unchanged on Sunday, July 19. However, gold prices are down by 2%, and silver rates underperformed with over a 4% decline in the month of July so far. Notably, both gold and silver rates have recorded a steep decline from their peak levels in late January, with the 24-carat gold price in 10 grams crashing by Rs 35,560 and the 999-purity silver rate nosediving by an eye-popping Rs 1.80 lakh in 1 kg. Silver has taken a worse hit than gold in 2026 so far. During the trading week between June 20th to June 24th, both gold and silver prices are expected to be volatile.

Gold Rates In India:

At present, 24 carat gold price stood at Rs 1,43,290 per 10 grams, at Rs 14,32,900 per 100 grams, at Rs 1,14,632 per 8 grams and at Rs 14,329 per 1 gram.

Meanwhile, 22 carat gold is priced at Rs 1,31,350 per 1 gram, at Rs 13,13,500 per 100 grams, at Rs 1,05,080 per 8 grams and at RS 13,135 per 1 gram.

Also, 18 carat gold rate is available at Rs 1,07,470 per 10 grams, at Rs 10,74,700 per 100 grams, at Rs 85,976 per 8 grams and at Rs 10,747 per 1 gram.

Silver Rates In India:

1Kg or 999 purity silver price stood flat at Rs 2.30 lakh, while 100 grams and 10 grams silver stood at Rs 23,000 and Rs 2,300 respectively. Also, 8 grams silver is at Rs 1,840 and 1 gram silver is at Rs 230.

Gold Rates & Silver Rates Fall Sharply From Peak

Taking into consideration the 10 grams price of 24 carat, gold is down by Rs 3,710 from its highest rate of Rs 1.47 lakh of July 2026. Overall, in the current month, gold plunged by nearly 2%.

But from its peak of Rs 1,78,850 per 10 grams that was recorded on January 29, 2026, 24 carat gold price has crashed by Rs 35,560 or nearly 20% till date.

Coming to silver, at the current rate of Rs 2.30 lakh, silver price is down by Rs 20,000 from its July monthly highest rate of Rs 2.50 lakh per 1 kg which was recorded on July 3, 2026. Overall, in July, silver underperforms gold with over 4.2% decline.

But silver had touched an all-time high of Rs 4.10 lakh per 1Kg on January 29 this year. From this level, silver has nosedived by a breathtaking Rs 1.80 lakh or 44%.

MCX Gold Price + MCX Silver Price + Spot Gold Price + Spot Silver Price

Last week on July 17th, MCX gold closed at Rs 1.41 lakh and MCX silver price stood around Rs 2,16,400 per 1Kg. Broadly, both the precious metals recorded weekly declines, tracking prices in the international market.

On the global front, spot gold price stood around $4,017 per ounce and ended the week with 3% decline, which is the biggest in six weeks. On the other hand, spot silver closed the week at $55.5 per ounce, which is the lowest level since November 2025.

The reason for precious metals to be under pressure is the elevated oil prices which have raised inflation concerns and reinforced rate hike possibility.

Geopolitical tensions escalated after Iran launched fresh strikes on US facilities in the Middle East, following a sixth consecutive night of US attacks on Iranian military targets that continued to disrupt shipping through the Strait of Hormuz. Adding to the pressure, Dallas Fed President Lorie Logan called for a rate hike, while Fed Vice Chair Philip Jefferson said he would support tighter policy if inflation failed to show near-term improvement. Markets now assign roughly a 50% probability to a September rate increase. Meanwhile, data released during the week showed US consumer and producer prices both declined in June, largely reflecting lower energy costs, while import prices unexpectedly increased, as per Trading Economics.

Gold Rates & Silver Rates Outlook For July 20-July 26:

Looking ahead, analysts at SMC Global Securities in their weekly note note said, "bullion prices will continue to take cues from US economic data, Federal Reserve commentary, Treasury yields, and the US Dollar Index. Softer inflation or weaker economic data could revive expectations of monetary easing and support a recovery in Gold and Silver."

However, stronger-than-expected data may reinforce the higher-for-longer interest rate narrative, limiting upside momentum. From a technical perspective, COMEX Gold has slipped below the key $4,000 psychological level.

"A sustained move below this mark could extend losses towards $3,750, while $4,250 is expected to act as a strong resistance. COMEX Silver is likely to remain relatively weaker and may trade in the $50-$62 range, with a sell-on-rise strategy preferred until a decisive breakout confirms a trend reversal," said the analysts.

On the domestic front, they are expecting MCX Gold is expected to trade in the Rs 1,36,000- Rs 1,43,000 range, while MCX Silver may remain volatile within the Rs 2,00,000-Rs 2,25,000 range. Overall, the medium-term outlook remains constructive due to expectations of eventual Fed easing and geopolitical uncertainties, but near-term price action will continue to be dictated by macroeconomic data and the movement of the US Dollar and Treasury yields.

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