Gold Rates & Silver Rates Today (24/07/2026) LIVE: Spot Gold & Spot Silver Falls Sharply As Oil Hits 101 Mark

Gold rates and silver rates in India are likely to be under pressure on Friday, as crude oil remains elevated and near the 101 mark. On the global front, spot gold has slipped below $4,030 per ounce and spot silver struggles below $58 per ounce. US WTI Crude surged near $93 per barrel and Brent Crude holds near $101 per barrel. MCX gold and MCX silver could follow this trend.

Higher oil prices stoked inflation fears, boosting expectations of tighter Fed policy and pressuring non-yielding assets. Markets currently assign a 34% probability to a Fed rate hike next week, while the odds of a September increase have climbed above 78%. Meanwhile, fresh US tariffs of 10%-12.5% on imports from major trading partners added to the uncertain market backdrop. Gold is still heading for a modest weekly gain, as per Trading Economics.