Gold Price Today: MCX Gold Falls 0.45% to ₹1,41,205 as Brent Crude Slips to $84.77

Gold price on MCX slipped 0.45% Thursday, trading near ₹1,41,205 per 10 grams. That decline came even as Brent crude eased slightly to $84.77 a barrel. Gold has now fallen for a second straight session amid mixed inflation signals. Fresh US airstrikes against Iran kept oil prices elevated through Thursday’s trading. Spot gold globally slipped toward $4,030 an ounce, down nearly 1% on the day. 

The US dollar index held firm near 100.50, adding pressure on bullion. MCX silver also declined, slipping below the ₹2.20 lakh mark. Traders now await further clarity on the Federal Reserve’s rate path.

Gold Price Today: MCX Levels in Detail

Gold (NYSE: GOLD) price on MCX fell 0.45% Thursday, dropping to ₹1,41,205 per 10 grams. That decline followed a similar 0.46% drop in Wednesday’s session. The contract touched an intraday low near ₹1,41,000 during Thursday’s trading. Immediate support now sits at ₹1,39,500, per LKP Securities’ technical outlook.

MCX gold and silver prices at a glance today:

• August gold futures fell 0.45% to ₹1,41,205 per 10 grams.
• September silver futures also declined, slipping below ₹2.20 lakh per kilogram.
• Key resistance for MCX gold sits at ₹1,43,500, analysts say.
• A hold above ₹1,40,000 could trigger short covering toward resistance.

Physical Gold Rates Across Indian Cities

24-carat gold dropped roughly ₹2,800 per 100 grams in Thursday’s trading. That put 10-gram 24K gold prices just below the ₹1,43,500 mark nationally. Delhi, Mumbai, and Kolkata all saw similar declines across karat categories. 22-carat gold fell more sharply, dropping ₹2,500 per 100 grams.

Gold holds firm above $4,000 as investors look beyond inflation fears – Saxo’s Hansen

(Kitco News) – While the #gold market has been unable to gain enough momentum to break through initial resistance at $4,100 an ounce, one market strategist suggests that its continued… pic.twitter.com/CJgo9nK88Y

— Kitco NEWS (@KitcoNewsNOW) July 15, 2026

Brent Crude Eases From Wednesday’s Peak

Brent crude slipped to $84.77 a barrel Thursday, easing from Wednesday’s $85.75 close. US West Texas Intermediate crude traded near $80 a barrel during the same session. Oil prices remain elevated following fresh US airstrikes against Iran this week. That geopolitical backdrop continues complicating the outlook for gold price trends.

Why oil and gold price today are moving in tandem:

• The US carried out additional airstrikes against Iranian targets Wednesday.
• President Trump said Tehran had signaled willingness to resume negotiations.
• Elevated oil prices raise inflation expectations, complicating the Fed’s rate path.
• A stronger US dollar index near 100.50 has also pressured gold.

The Interim Peace Deal Has Unraveled

An interim US-Iran peace agreement reached last month has effectively collapsed. Renewed hostilities have pushed Brent crude well above pre-conflict levels this month. That escalation initially supported gold prices before Thursday’s pullback took hold. Markets remain sensitive to any further military developments in the region.

Fed Rate Expectations Are Shifting Gold Sentiment

US producer prices unexpectedly declined in June, the first drop in nearly a year. That followed Tuesday’s softer-than-expected consumer inflation report from the Labor Department. Traders have scaled back September rate hike expectations to around 44%, down from 50%. Fed Chair Kevin Warsh still reaffirmed “no tolerance” for persistently elevated inflation.

Key data points shaping this week’s gold price today moves:

• June core PPI rose just 0.2%, softer than economists had expected.
• The dollar index fell to a 3.5-week low earlier this week.
• India’s own CPI inflation surged to 4.38%, above the RBI’s 4% target.
• That domestic inflation print added further pressure on Indian gold demand.

Silver Fell Even Faster Than Gold Today

Spot silver dropped roughly 1.12% Thursday, extending losses toward $57 an ounce. MCX silver mirrored that move, slipping below the ₹2.20 lakh mark. Silver’s steeper decline reflects its dual role as both a precious and industrial metal. Weaker industrial demand expectations added extra pressure beyond gold’s own selloff.

How do I know that the market is still reacting to the war ? Because metals are selling hard!

Silver lost 10% since the Iran-U.S. escalation ! pic.twitter.com/aiXTdRBoPE

— Data Driven Stocks (@stockdatamarket) July 16, 2026

Gold-Linked Stocks Feel the Ripple Effect

Indian jewellery stocks often move alongside daily gold price today swings. Titan Company and Kalyan Jewellers both carry direct exposure to bullion costs. Rising gold prices typically pressure jewellers’ margins on unsold inventory. Energy stocks like ONGC and Reliance Industries benefit instead from firmer crude prices.

Final Thoughts

Gold price today reflects a tug-of-war between inflation risk and safe-haven demand. Brent crude’s pullback to $84.77 offered gold little relief from broader pressure. Softer US inflation data supports bullion, while Iran tensions still complicate the picture. 

MCX gold’s ₹1,39,500 support level will be key through Thursday’s remaining session. For now, traders remain caught between conflicting signals from oil and rate markets.

Disclaimer:

The content shared by Meyka AI PTY LTD is for research and informational purposes only. Meyka is not a financial advisory service, and the information provided should not be treated as investment or trading advice.