Gold Prices Dip Marginally in India Amid Global Softness; Check Citywise Rates.
Gold prices in India saw a slight decline on Monday, July 7, tracking a broader fall in global bullion markets. The price of 24-carat gold dipped by ₹10 to ₹98,993 per 10 grams, while 22-carat gold fell to ₹90,763 for the same quantity.
Citywise Gold Rates (per 10 grams)
24-Carat Gold:
Delhi: ₹98,993 (highest among major cities)
Mumbai: ₹98,847
Chennai: ₹98,841
Kolkata: ₹98,845
Bengaluru: ₹98,835 (lowest)
22-Carat Gold:
Delhi: ₹90,763
Pune: ₹90,623
Chennai: ₹90,611
Kolkata: ₹90,615
Bengaluru: ₹90,605 (lowest)
This ₹10 decline in domestic prices reflects a mild correction, in line with international trends.
Global Market Impact
Gold prices dropped in the global market as investor appetite for the safe-haven asset weakened amid signs of easing trade tensions. U.S. President Donald Trump on Monday signaled progress on a series of trade deals and confirmed that formal letters on tariff adjustments would be dispatched to several countries starting today.
As a result, spot gold fell 0.6% to $3,314.21 per ounce, while U.S. gold futures also declined by the same margin to $3,322, according to Reuters.
“The short-term reprieve in tariffs is dampening gold’s appeal as a hedge,” said Kelvin Wong, senior market analyst at OANDA.
Other precious metals followed suit:
Silver fell 0.8% to $36.81/oz
Platinum slipped 0.8% to $1,380.55/oz
Palladium declined 1% to $1,123.31/oz
With geopolitical tensions easing and tariff uncertainty temporarily subdued, gold may remain under mild pressure in the short term. However, analysts caution that further cues from upcoming U.S. economic data and central bank signals could shift investor sentiment again.
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