Gold and silver prices eased across India on Wednesday, July 1, giving buyers a slight breather.
According to the latest retail rates, 24-carat gold was priced at ₹1,41,100 per 10 grams in Delhi, while 22-carat gold was selling at ₹1,29,343. In Mumbai, the price of 24-carat gold stood at ₹1,41,340, while 22-carat gold was available at ₹1,29,562 per 10 grams.
In Kolkata, 24-carat gold was priced at ₹1,41,330, and 22-carat gold at ₹1,29,553. Chennai recorded the highest rates among the major cities, with 24-carat gold selling at ₹1,41,930 and 22-carat gold at ₹1,30,103 per 10 grams.
Silver prices also moved lower. One kilogram of 999 purity silver was priced at ₹2,23,730 in Delhi, ₹2,24,120 in Mumbai, ₹2,23,740 in Kolkata, and ₹2,24,690 in Chennai.
The fall was also seen in the futures market. Gold futures for August delivery were trading at around ₹1,41,600 per 10 grams, while silver futures were quoted at about ₹2,24,520 per kilogram during the morning session.
Gold prices usually move in line with global trends. This time, the stronger US dollar and expectations that the US Federal Reserve may keep interest rates high have put pressure on bullion prices. Investors are also waiting for key economic data from the US, which could decide how gold and silver prices move in the coming days.
For people planning to buy jewellery, today’s lower prices may be good news. However, the final amount paid at jewellery stores will also include making charges, GST and other local costs, so buyers should check the latest rates before making a purchase.