Gold prices in India saw a significant dip in major the cities including Delhi, Chennai, Mumbai on Tuesday, July 1. The prices fell to ₹ 97,423 for 24 carat gold and ₹ 89,313 for 22 carat gold.
The price of 24 carat gold per 10 grams was the highest in Delhi with ₹ 97,423, while the price was ₹ 97,271 in Chennai and ₹ 97,275 in Kolkata respectively.
Citywise gold prices
The gold rate in Bengaluru was the lowest at ₹ 97,265. In the metropolitan city of Mumbai, gold was priced at ₹ 97,277 while in Pune the rate was ₹ 97283. Follow for live updates on gold prices.
In terms of the rate of 22 carat gold, the overall price declined by ₹ 150 as compared to the prices of Monday. In Delhi, the gold rate was ₹ 89,313, while in Mumbai, it was ₹ 89,167. For the cities of Kolkata, Pune and Chennai, the gold price was ₹ 89,165, ₹ 89,173 and ₹ 89,161 respectively. Here, for 22 carat gold, Delhi recorded the highest rates while Bengaluru recorded the lowest rates.
Gold rate in International market
In international market gold price rose on Tuesday, supported by a weaker dollar and heightened uncertainty over US President Donald Trump’s tariff policies ahead of the July 9 deadline. This uncertainty is driving investors toward safe-haven assets of gold leading to rise in prices. On Tuesday spot gold was up 0.4% at $3,315.26 per ounce, while U.S. gold futures rose 0.6% to $3,326.50, as per reported by Reuters. Nicholas Frappell, global head of institutional markets at ABC Refinery, told Reuters that the weaker dollar and the concerns about the Trump’s tariff deadline not extending are fueling the gold prices. The U.S. dollar index fell 0.1% to a more than three-year low.
Meanwhile, Trump expressed frustration with the U.S.-Japan trade negotiations on Monday as U.S. Treasury Secretary Scott Bessent warned that countries could be notified of sharply higher tariffs amid the fast approaching July 9 deadline. Spot silver fell 0.8% to $35.80 per ounce, platinum was down 0.7% to $1,343.61, while palladium gained 0.9% to $1,107.25.