Gold and silver prices: The price of the yellow metal in India’s retail market rose on Tuesday, 14 July, amid renewed tensions between the United States and Iran.
Both 24-karat and 22-karat gold rates are showing a marginal increase across major cities. Silver prices, on the other hand, also rose in the domestic bullion market.
on 14 July was trading 0.69% higher at ₹141,550 per 10 grams. MCX silver futures, on the other hand, were trading about 0.46% higher at ₹218,760 per kg at around 9:13 am.
Oil prices rose on Tuesday after announced plans to impose shipping fees in the Strait of Hormuz and reinstate a blockade of Iranian ports, raising concerns over potential disruptions to global crude supplies.
US West Texas Intermediate futures for August delivery rose 2.27% to $79.91 per barrel. International benchmark for September delivery climbed 2.14% to $85.11, extending gains after advancing 9.6% in the previous session.
Important geopolitical developments
US strikes Iran while Tehran targets Gulf neighbours in retaliation
The US carried out strikes against Iranian military targets for a third consecutive night, while Iran, in retaliation, hit two Emirati oil tankers in the and triggered air-raid warnings across the Gulf, reported CNBC US.
US Central Command said it had completed the latest wave of strikes against Iran. The five-hour mission struck military targets across Iran and further degraded Iran’s ability to attack commercial shipping, Centcom said in a statement.
China’s exports in June rose at the fastest pace since 2021 as the AI boom and tariff rush lifted trade
China’s trade growth accelerated far more than expected in June, as booming global demand for AI hardware and a rush by US retailers to beat anticipated tariff hikes turbocharged shipments.
Overall exports rose 27% from a year earlier in terms, the strongest since October 2021, customs data showed Tuesday, quickening from the 19.4% gain in May and sharply beating economists’ estimates for a 18.2% growth.
Oil gains over 2% as Mideast tensions and Hormuz toll prospects raise supply worries
Trump said Monday that on ships transiting the Strait of Hormuz, charging “at the rate of 20% on all cargo shipped,” after describing the United States as the “guardian” of the vital oil transit route, as per a report from CNBC US. Due to these developments, oil prices rose by more than 2% in early trade on Tuesday.
Changes in gold and silver prices today
In the retail market, gold is sold in 24-karat and 22-karat purity. While 24-karat gold is considered the purest form, 22-karat gold is commonly used for jewellery because it’s more durable.
Here’s a look at the latest gold prices across major Indian cities on 14 July.
Gold Prices in New Delhi — 14 July
24 karat gold rate in New Delhi — ₹141,010/10 gm
22 karat gold rate in New Delhi — ₹129,259/10 gm
Silver 999 Fine rate in New Delhi — ₹217,950/1 kg
Gold Prices in Mumbai — 14 July
24 karat gold rate in Mumbai — ₹141,260/10 gm
22 karat gold rate in Mumbai — ₹129,488/10 gm
Silver 999 Fine rate in Mumbai — ₹218,330/1 kg
Gold Prices in Bengaluru — 14 July
24 karat gold rate in Bengaluru — ₹141,450/10 gm
22 karat gold rate in Bengaluru — ₹133,183/10 gm
Silver 999 Fine rate in Bengaluru — ₹219,100/1 kg
Gold Prices in Kolkata — 14 July
24 karat gold rate in Kolkata — ₹141,450/10 gm
22 karat gold rate in Kolkata — ₹129,388/10 gm
Silver 999 Fine rate in Kolkata — ₹218,640/1 kg
Gold Prices in Hyderabad — 14 July
24 karat gold rate in Hyderabad — ₹141,560/10 gm
22 karat gold rate in Hyderabad — ₹129,763/10 gm
Silver 999 Fine rate in Hyderabad — ₹219,280/1 kg
Gold Prices in Chennai — 14 July
24 karat gold rate in Chennai — ₹141,750/10 gm
22 karat gold rate in Chennai — ₹129,938/10 gm
Silver 999 Fine rate in Chennai — ₹219,570/1 kg