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Gold prices remained largely steady across major Indian cities on Friday, July 17, while silver continued to trade at elevated levels amid ongoing geopolitical tensions and firm global demand for safe-haven assets. Retail gold rates vary slightly across cities due to local taxes, transportation costs and jewellers' pricing.

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 17 July.

Gold Prices in New Delhi — 17 July

24 karat gold rate in New Delhi — ₹140,720/10 gm

22 karat gold rate in New Delhi — ₹128,993/10 gm

Silver 999 Fine rate in New Delhi — ₹215,180/1 kg

Gold Prices in Mumbai — 17 July

24 karat gold rate in Mumbai — ₹141,260/10 gm

22 karat gold rate in Mumbai — ₹129,233/10 gm

Silver 999 Fine rate in Mumbai — ₹215,570/1 kg

Gold Prices in Bengaluru — 17 July

24 karat gold rate in Bengaluru — ₹140,970/10 gm

22 karat gold rate in Bengaluru — ₹129,323/10 gm

Silver 999 Fine rate in Bengaluru — ₹219,100/1 kg

Gold Prices in Kolkata — 17 July

24 karat gold rate in Kolkata — ₹140,780/10 gm

22 karat gold rate in Kolkata — ₹129,048/10 gm

Silver 999 Fine rate in Kolkata — ₹215,290/1 kg

Gold Prices in Hyderabad — 17 July

24 karat gold rate in Hyderabad — ₹141,190/10 gm

22 karat gold rate in Hyderabad — ₹129,424/10 gm

Silver 999 Fine rate in Hyderabad — ₹215,910/1 kg

Gold Prices in Chennai — 17 July

24 karat gold rate in Chennai — ₹141,380/10 gm

22 karat gold rate in Chennai — ₹129,598/10 gm

Silver 999 Fine rate in Chennai — ₹216,200/1 kg

Why are gold prices holding firm?

Gold continues to find support from:

• Rising geopolitical tensions in the Middle East.
• Elevated crude oil prices.
• Safe-haven buying by investors.
• Expectations that the US Federal Reserve may keep interest rates unchanged in the near term.

Despite recent volatility, analysts expect gold prices to remain supported as investors monitor global economic developments, inflation trends and central bank policy signals.

Oil prices rose on Friday as investors weighed escalating tensions between the United States and Iran after Tehran vowed to target regional infrastructure if US President Donald Trump followed through on threats to strike the country's key facilities.

US West Texas Intermediate futures for August delivery rose 1.32% to $80.09 per barrel. September futures for international benchmark Brent advanced 1.33% to $85.35 per barrel.

Iran warns US of Hormuz 'red line,' says it will retaliate if Donald Trump carries out threats

Iran warned Thursday that it would "crush" key targets in the Middle East if Trump's threats to target the country's infrastructure in the coming days are carried out, reported CNBC US.

Trump said in a Tuesday evening interview with Fox News that US forces would target key Iranian infrastructure next week if a diplomatic breakthrough is not achieved.

"Next week it gets really bad for them because next week comes the power plants," he said. "Next week comes the bridges. We're going to knock out all their power plants. We're going to knock out all their bridges unless they get to the table and negotiate."