Gold Price Today: Gold prices have fallen by ₹1,480 in three days; here are the current rates for 24-carat to 18-carat gold..
Gold Rate Today in India: The luster of non-interest-bearing assets like gold has dimmed for the third consecutive day due to sluggish demand and a strengthening dollar. Investor caution ahead of the release of the Federal Reserve's June meeting minutes is also weighing on prices. Following a day of stability, the price of 10 grams of 24-carat gold in Delhi has dropped by ₹1,480, and 22-carat gold by ₹1,360, over the past three days. As for today, the price of 10 grams of both 24-carat and 22-carat gold in the capital has decreased by ₹10.
Regarding silver, sluggish industrial demand has also exerted downward pressure, dampening its shine. After remaining stable for a day, prices have fallen today, with the cost of one kilogram of silver dropping by ₹100. City-wise Gold Prices
Let’s find out the price of 10 grams of gold (18-carat, 22-carat, and 24-carat purity) across 10 major cities in the country...
City 24-Carat Gold Price (10g) 22-Carat Gold Price (10g) 18-Carat Gold Price (10g)
Delhi ₹1,45,400 ₹1,33,290 ₹1,09,080
Mumbai ₹1,45,250 ₹1,33,140 ₹1,08,930
Kolkata ₹1,45,250 ₹1,33,140 ₹1,08,930
Chennai ₹1,46,170 ₹1,33,990 ₹1,11,990
Bengaluru ₹1,45,250 ₹1,33,140 ₹1,08,930
Hyderabad ₹1,45,250 ₹1,33,140 ₹1,08,930
Lucknow ₹1,45,400 ₹1,33,290 ₹1,09,080
Patna ₹1,45,300 ₹1,33,190 ₹1,08,980
Jaipur ₹1,45,400 ₹1,33,290 ₹1,09,080
Ahmedabad ₹1,45,300 ₹1,33,190 ₹1,08,980
Silver Prices Drop After a Day of Stability
As for silver, prices have fallen today following a day of stability. Before this, on July 6, the price of one kilogram of silver had dropped by ₹5,000 after remaining stable for two consecutive days. As for today, the price of silver in Delhi has dropped by ₹100 per kilogram, bringing it to ₹2,44,800. In other major metropolitan cities, the rate is ₹2,44,900 per kilogram in Mumbai and Kolkata, while in Chennai, it stands at ₹2,49,900—making Chennai the most expensive market for silver among the four metros.
What is the outlook?
Saumil Gandhi, Senior Analyst (Commodities) at HDFC Securities, notes that investors are exercising caution ahead of the release of the minutes from the Federal Reserve's June meeting. According to Gandhi, the outcome of the second round of talks between the US and Iran could provide direction to gold prices. Praveen Singh, Head of Commodities at Mirae Asset Sharekhan, observes that a slight rise in crude oil prices has led to a softening of spot gold prices internationally, and gold and silver may trade within a limited range in the short term. However, he adds that an easing of geopolitical tensions in West Asia could have a positive impact on gold and silver prices.
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