Gold prices edged higher across major Indian cities on Saturday, June 27, as global bullion markets recovered and investors once again turned to safe-haven assets. The rise came after softer US inflation data eased fears of more aggressive interest rate hikes. Even so, gold is still headed for a fourth straight weekly decline globally after touching multi-month lows earlier this month.
In Mumbai, 24-carat gold was priced at ₹1,44,300 per 10 grams, while 22-carat gold stood at ₹1,32,275 and 18-carat gold at ₹1,08,225. Silver (999 fine) was selling at ₹2,22,850 per kg.
Delhi also saw firm prices, with 24-carat gold at ₹1,44,060 per 10 grams, 22-carat gold at ₹1,32,055 and 18-carat gold at ₹1,08,045. Silver was quoted at ₹2,22,470 per kg.
Other major cities followed the same trend. Bengaluru reported 24-carat gold at ₹1,44,420 per 10 grams. Chennai recorded the highest price among the key metros at ₹1,44,720. Hyderabad quoted 24-carat gold at ₹1,44,530, while Kolkata stood at ₹1,44,110 per 10 grams. Silver prices across these cities ranged between ₹2,22,560 and ₹2,23,500 per kg.
In the international market, spot gold rose to $4,089.80 an ounce, while silver climbed to $59.15 an ounce. Analysts said the latest move was supported by expectations of softer inflation, which reduced pressure for immediate rate hikes. Continued uncertainty in financial markets also encouraged investors to move money into precious metals. Volatility in technology stocks added to that safe-haven demand.
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