Gold and silver prices remained under pressure on Tuesday, June 30, with weakness in the futures market mirrored by a slight decline in retail bullion rates across major Indian cities. While the fall in physical gold prices was modest, investors continued to track global developments that are influencing precious metal markets.
On the Multi Commodity Exchange (MCX), gold for August delivery was trading 1.3 per cent lower at ₹1,40,950 per 10 grams, while silver futures slipped 1.08 per cent to ₹2,20,670 per kilogram at around 9:13 am.
In the retail market, 24-carat gold was priced at ₹98,880 per 10 grams in Delhi, while 22-carat gold was selling at ₹90,650. In Mumbai and Kolkata, 24-carat gold was available at ₹98,730 per 10 grams, with 22-carat gold priced at ₹90,500. Other major cities, including Chennai, Bengaluru and Hyderabad, also recorded similar rates, with slight differences due to local taxes and transportation costs.
Retail silver prices remained steady at around ₹1,10,000 per kilogram in Delhi, Mumbai, Kolkata and several other major cities, despite the decline in MCX futures.
Market participants said bullion prices continue to react to international factors such as movements in the US dollar, expectations surrounding interest rate decisions by major central banks and geopolitical developments. A stronger dollar generally puts pressure on gold prices by making the metal more expensive for overseas buyers, while changing global risk sentiment also influences investor demand for safe-haven assets.
Jewellers said stable retail prices have kept customer interest intact, particularly among those planning purchases for weddings, festive occasions and long-term investment. However, buyers have been advised to compare prices across jewellers, as making charges, GST and local levies can significantly increase the final purchase cost.
Also Read: Rupee falls 7 paise to 94.58 against dollar