Gold rate today: Yellow metal's prices fall; check the latest rates in your city on July 16

Gold rate today: Check the latest prices in your city on July 16

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26 Aug, 2025 12:21

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Gold prices continued to drop on July 16. Gold's August contracts on the Multi Commodity Exchange of India (MCX) opened at Rs 97,222 per 10 grams today.

Let's check the latest prices of 10 grams of 22 carat and 24 carat gold in major cities of the country on July 16:

"Comex Gold August futures closed 0.7% lower at $3336.7/oz on Tuesday, pressured by a stronger US Dollar Index and rising 10-year Treasury yields. The dollar climbed to 98.7 as US CPI rose 2.7% year-on-year in June, the highest since February and well above the Fed’s 2% target, reducing expectations of imminent rate cuts, with markets now pricing in just 43 basis points of easing this year, despite Trump’s renewed calls for rate reductions," said Kaynat Chainwala, AVP-Commodity Research, Kotak Securities.

Precious metals weakened further amid improved trade sentiment after US Treasury Secretary Bessent stated that US-China talks were in a "very good place," and President Trump announced a trade deal with Indonesia. Today, gold edged higher to $3,346, supported by renewed tariff threats from Trump, who signaled possible levies on pharmaceuticals by the end of the month, with additional duties on semiconductors also under consideration. Risk appetite remains subdued as new tariffs targeting 25 countries, including Canada, Mexico, and the EU, are set to take effect on August 1," Kaynat Chainwala added.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.