Correction sighted amid global inflation and geopolitical concerns
Mumbai : Gold prices snapped a three-day losing streak on Wednesday, July 15, 2026, registering sharp gains in domestic retail markets even as global headwinds and MCX futures faced downward pressure. Retail silver prices, meanwhile, held steady.
Domestic Retail Rates Stand Firm
In India’s retail market, on Wednesday safe-haven buying pushed physical gold prices higher across all major purities:
24-Carat Gold: Advanced by ₹770, settling at ₹1,43,570 per 10 grams.
22-Carat Gold: Rose by ₹700 to trade at ₹1,31,600 per 10 grams.
18-Carat Gold: Logged a gain of ₹570, bringing the price to ₹1,07,670 per 10 grams.
Sovereign Gold: A standard eight-gram sovereign climbed to ₹1,05,440.
MCX and Global Markets Face Pressure
While retail prices ticked upward today, the broader market sentiment remains fragile. Domestically, gold futures traded lower on the Multi Commodity Exchange (MCX), mirroring weakness in international benchmarks.
MCX Gold August Futures: Slipped 0.47% (down ₹669) to trade at ₹1,41,588 per 10 grams during morning hours.
Global Spot Gold: Erased early morning gains to trade down 0.65% at $4,026.44 per ounce.
US Gold Futures (August): Declined 0.9% to $4,032.87 per ounce.
Today's correction comes after Tuesday's session, where a softer-than-expected US consumer inflation print briefly propelled bullion to a historic record high of $4,100.49 per ounce.
Key Market Drivers: Fed Policy & Geopolitical Tensions
Bullion’s volatile trajectory this week—marking a cumulative 1.3% decline over the last two weeks—is being heavily influenced by a mix of macroeconomic variables and Geopolitical factors such as US-Iran Conflict. A fragile ceasefire between the US and Iran, coupled with firmer crude oil prices, continues to stoke global inflation fears.
Moving forward, analysts expect gold to remain highly sensitive to any further escalation in US-Iran tensions, which could trigger sudden bouts of safe-haven demand.
