The price of 24-karat gold plummeted by ₹150 in Delhi’s major markets on 1 July, while 22-karat gold dropped by ₹100.
The retail rates of gold and silver in Delhi are closely tied to the global market trends and commodity prices. On 1 July, the prices of 24K gold and 22K gold in Delhi’s major markets were ₹52,700 and ₹48,400, respectively. These rates have been fluctuating over the past few days, influenced by the global demand and supply dynamics.
Delhi Retail Gold Rates on 1 July:
- 24K gold: ₹52,700 per 10 grams
- 22K gold: ₹48,400 per 10 grams
What this means:
For Delhi residents and gold investors, these price fluctuations can impact their purchasing decisions. As a result, many people might delay buying gold until the prices drop further, or take advantage of low prices to make a purchase.
In terms of silver, the price dropped to ₹72,900 per kilogram in the national capital. This decrease is attributed to the lower international silver prices.
Mumbai and Kolkata See Similar Trends
The price trends in Delhi were also seen in other major cities like Mumbai and Kolkata. The 24K gold rates in Mumbai dropped by ₹120, while in Kolkata, it dropped by ₹100 on 1 July. The silver prices in these cities also saw a decline, influenced by the global market.
Mumbai Retail Gold Rates on 1 July:
- 24K gold: ₹52,500 per 10 grams
- 22K gold: ₹48,200 per 10 grams
Kolkata Retail Gold Rates on 1 July:
- 24K gold: ₹52,500 per 10 grams
- 22K gold: ₹48,200 per 10 grams
The MCX market updates also reflect the global market trends. On 1 July, the MCX gold price dropped by ₹120, while the MCX silver price dropped by ₹500.
MCX Gold Price on 1 July:
₹52,650 per 10 grams
MCX Silver Price on 1 July:
₹60,900 per kilogram
The fluctuating gold and silver prices can be attributed to various market factors, including global demand, supply, and commodity prices. As a result, investors and buyers should closely monitor the market trends and adjust their strategies accordingly.
