Gold Rates & Silver Rates Today (24/07/2026) LIVE: MCX Gold Stays Below Rs 1.42 Lakh, Silver Recovers Losses

Gold rates and silver rates in India continued to crash on Friday, July 24, 2026, due to escalation in Middle East war. In India, gold rates followed the trend of global market. Spot gold is down by 1% to trade below $4,025 per ounce, while spot silver has sustained between $57 and $58 per ounce levels. Meanwhile, at MCX, gold futures is below Rs 1.42 lakh per 10 grams and MCX silver futures holds below Rs 2.19 lakh per 1Kg. Precious metals are broadly down by 1% across markets.

All eyes will be on the US Federal Reserve's policy, which is scheduled next week. Although market participants are predicting a status quo in interest rates of 3.50% to 3.75%, the possibility of a rate hike is not ruled out with energy cost rising as crude embraces above 101 mark this week.

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.

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