CHENNAI: During the week of July 14 to 18, the Indian rupee saw a mild depreciation while commodity markets remained volatile, with silver continuing its strong upward trend and crude oil staying elevated due to global supply concerns.
Rupee:
The Indian rupee weakened slightly against the US dollar over the week. It started around 85.97 on July 14 and closed near 86.14 on July 18, reflecting a depreciation of about 10–15 paise. The currency remained in a narrow range of 85.98–86.15 throughout the week, with low volatility. Persistent foreign fund outflows and global dollar strength contributed to the rupee’s subdued performance.
Crude Oil:
Crude oil prices stayed firm amid geopolitical concerns. Indian Oil Minister Hardeep Singh Puri warned that prices could spike to $130–140 per barrel if Russian supplies are disrupted. India has continued to diversify its oil import sources to mitigate price shocks. Though exact price movements varied daily, overall sentiment remained cautious due to potential supply constraints.
Gold:
Gold prices softened slightly over the week. On July 14, 24K gold was priced around ₹9,988 per gram, falling to ₹9,933 by July 17, and recovering marginally to ₹9,934–9,938 by July 18. On the Multi Commodity Exchange (MCX), gold futures for August hovered around ₹97,559 per 10 grams. Globally, gold prices held near $3,344 per ounce but ended the week around 0.5% lower due to stronger US economic data and a firm dollar.
Silver:
Silver outperformed other precious metals, continuing its sharp rally. Prices surged to ₹114,875 per kg during the week, with gains supported by strong industrial demand and investor interest. Silver has been one of the best-performing assets in 2025 so far, outpacing gold in returns.
In conclusion, the rupee traded weak but stable, closing near 86.14/US Dollar, while crude oil remained elevated on supply concerns. Gold saw mild profit-booking even as prices remained steady, and silver rallied sharply, driven by industrial demand and bullish sentiment.
