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Gold & Silver Rates Today (15-07-2026) LIVE: Physical Gold Rates Jump, But MCX Gold & Silver Under Pressure

Gold rates and silver rates in India surged in terms of 24 carat, 22 carat and 18 carat by approximately Rs 5,700 to Rs 7,700 on July 15, 2026. However, this was not the case at MCX, where both bullion and silver traded cautiously. MCX gold is down by 0.50% to trade around Rs 1,41,588 per 10 grams and MCX silver slipped by 0.30% to trade around Rs 2,22,500 mark, tracking volatility in spot gold and spot silver.

On the global front, spot gold dipped by nearly 1% to trade below $4,030 per ounce, while spot silver plunged by nearly 1% to trade around $58 per ounce. On the contrary, crude oil prices continued to rally with US WTI Crude reaching near $80 per barrel and Brent Crude soaring near $86 per barrel. US dollar, however, pulled away from 101 mark after US CPI inflation came softer than expected.

The drop in MCX gold and silver can also be attributed to sharp surge in India's CPI inflation data to 4.38%, which was higher than expectation and also above RBI's target of 4% for the first time since January 2025, creating a higher probability of rate hike from in upcoming policies.

The annual US inflation rate slowed to 3.5% in June from 4.2% in May, coming in below forecasts of 3.8% as lower oil prices helped ease energy-related inflation. Consumer prices also fell 0.4% from the previous month, marking the first monthly decline since 2020. Meanwhile, Fed Chair Kevin Warsh reiterated the central bank's commitment to restoring price stability during congressional testimony on Tuesday but refrained from signaling a more aggressive policy stance. Markets continue to price in roughly a 50% chance of a Fed rate hike in September, as renewed tensions between the US and Iran lifted oil prices and kept inflation concerns firmly on investors' radar, as per Trading Economics.

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