New Delhi: Gold price today in India was down by Rs 10 per unit to Rs 72,220 per 10 gram (24 carat). While, the price of 22-carat gold in India stood at Rs 66,240 per 10 gm on June 26, 2024, the price of 18-carat gold was at Rs 54,200 per 10 gm. Notably, gold prices and silver prices in India have fallen for last two consecutive days. Silver price today in India was down by Rs 100 per unit to Rs 90,900 per kg.
Gold August 2024 MCX futures today were down 0.07 per cent to Rs 71,418 per 10 gm. Gold contracts for August delivery dipped on June 25.
Gold and silver prices in key cities today
City
24 Carat Gold Price (in Rs/gm)
Silver Prices (in Rs/kg)
Delhi
72370
90,900
Mumbai
72220
90,900
Bengaluru
72220
90950
Chennai
72870
95400
Kolkata
72220
90,900
Pune
72220
90,900
Ahmedabad
72270
90,900
Hyderabad
72220
95400
Why Gold Prices are falling?
In the last few days, gold prices have traded in a range bound manner. According to industry analysts, gold has become range-bound as commodity traders in the US await macroeconomic data due to be released on June 29, 2024.
The Federal Reserve is expected to release the US GDP data and the Personal Consumption Expenditures (PCE) inflation data, it’s most preferred tool to gauge inflation in the country.
According to Praveen Singh, Associate VP, Fundamental Currencies and Commodities at Sharekhan by BNP Paribas, stated that the above-mentioned factors are responsible for gold prices becoming slightly bearish for the short term.
Saumil Gandhi, Research Analyst at HDFC Securities, said, market sentiments have become gloomy. Now all focus is on Friday’s microeconomic data which could offer clues on when the central bank would pivot to monetary policy easing.
Historically, Gold has shared an inverse relationship with interest rates. Generally, it is seen that gold prices have increased when interest rates are slashed and yellow metal prices moderate when interest rates are hiked.
Gold Price Today in India: The precious metal’s price stood at Rs 72,220 per 10 gram (24 carat) in India on June 26, 2024. Gold price today in Delhi stood at Rs 72,370 per 10 gram (24 carat). Biz News Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
