Gold and silver prices continued to fall this week; Gold prices fell by more than ₹2,200 and silver by ₹4,900. According to the India Bullion and Jewelers Association (IBJA), the price of 24-carat gold fell by ₹2,209 this week to ₹1,41,159 per 10 grams, from ₹1,43,368 per 10 grams earlier.
The price of 22-carat gold declined to ₹1,29,302 per 10 grams from ₹1,31,325 per 10 grams. Similarly, the price of 18-carat gold declined to ₹1,05,869 per 10 grams from ₹1,07,526 per 10 grams. The lowest price of gold this week was ₹ 1,41,159 per 10 grams in the evening session on July 17, while the highest price was ₹ 1,42,289 per 10 grams in the morning session on July 13. At the same time, the gold contract for August 5, 2026 on MCX increased by ₹ 658 and closed at ₹ 1,40,348 on Friday.
**Fall in silver prices**
Along with gold, silver prices also fell. Silver prices fell ₹4,917 to ₹2,15,474 per kg, from ₹2,20,390 per kg earlier. The highest price of silver this week was ₹ 2,20,391 per kg. At the same time, the lowest price was ₹ 2,15,474 per kg in the evening session on July 17. On Friday, the silver contract for September 4, 2026 closed at ₹2,16,403 with a gain of ₹46 on MCX.
Global prices of gold and silver
Internationally, the price of gold has reached close to $4,000 per ounce, while the price of silver has reached close to $57 per ounce. According to experts, the reason for the fall in gold and silver prices is the increasing tension between America and Iran. America is continuously attacking Iran, while Iran in return is targeting American bases in the Middle East.