Crude Oil Below $100 Triggers Gold and Silver Price Rebound
On the Multi Commodity Exchange (MCX), gold and silver futures prices rebounded on July 24, 2026, as crude oil prices dropped below $100 per barrel. This decline in oil costs often triggers a shift toward safe-haven assets, helping precious metals recover from their initial lower opening.
The drop in crude oil below the $100 per barrel threshold can reduce inflationary concerns, prompting investors to reassess their positions in safe-haven assets like bullion. On MCX, gold futures for August delivery displayed significant intraday recovery after opening lower at ₹1,42,392, trading at ₹1,43,100, marking a gain of ₹279 from the previous close.
Silver futures followed a similar pattern of recovery, pushing the price up to ₹2,21,718, an increase of ₹2,343. This movement comes after silver hit a record high of ₹4,20,048 earlier this year, highlighting the substantial range in which silver has traded.