Gold price today: Gold rates rose in the domestic futures market Wednesday (July 16) morning, tracking positive global cues and weakness in the US dollar. Silver also traded with gains, supported by healthy demand in the spot market. Around 9:10 AM, MCX Gold August 5 contracts traded 0.19 per cent higher at ₹97,400 per 10 grams, while MCX Silver was 0.20 per cent higher at ₹1,11,705 per kg.
Investors’ focus is on the US Producer Price Index (PPI) data due on Wednesday, for more cues on inflation trends in the US. On July 15, government data showed the US inflation in June surged to its highest level since February, led by President Donald Trump’s tariff policies.
The Labor Department reported on Tuesday that consumer prices rose 2.7 per cent in June year-on-year. Month-over-month, inflation climbed 0.3 per cent, accelerating from a 0.1 per cent rise the previous month.
(This is a developing story. Please check back for fresh updates.)
