Gold and silver prices experienced a notable downturn on the opening day of July, reflecting broader market movements. In futures trading, the August contract for gold on the MCX dropped more than 1 percent to approximately ₹1,40,998 per 10 grams around mid-morning. Similarly, the September silver contract fell over 2 percent, trading near ₹2,23,451 per kilogram.
Retail prices for physical gold also adjusted downward in line with these trends. Pure 24-carat gold (99.9 percent purity) was quoted around ₹1,40,780 to ₹1,40,930 per 10 grams in most major cities, while 22-carat (91.6 percent purity) ranged from about ₹1,29,050 to ₹1,29,200 per 10 grams. The more affordable 18-carat gold (75 percent purity) stood between ₹1,05,590 and ₹1,05,740 per 10 grams in several locations.
Here is a snapshot of prevailing rates in key urban centers:
- Delhi: 24-carat at ₹1,40,930, 22-carat at ₹1,29,200, and 18-carat at ₹1,05,740 per 10 grams.
- Mumbai: 24-carat at ₹1,40,780, 22-carat at ₹1,29,050, and 18-carat at ₹1,05,590 per 10 grams.
- Chennai: Higher rates prevailed with 24-carat at ₹1,42,910, 22-carat at ₹1,31,000, and 18-carat at ₹1,09,400 per 10 grams.
- Bangalore and Hyderabad: Both cities saw 24-carat gold at ₹1,40,780, 22-carat at ₹1,29,050, and 18-carat at ₹1,05,590 per 10 grams.
- Kolkata and Pune: Similar levels to Bangalore, with 24-carat around ₹1,40,780–₹1,40,780, 22-carat at ₹1,29,050, and 18-carat at ₹1,05,590 per 10 grams.
- Ahmedabad and Vadodara: 24-carat at ₹1,40,830, 22-carat at ₹1,29,100, and 18-carat at ₹1,05,640 per 10 grams.
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These figures represent spot retail prices for standard purity levels and may vary slightly based on local market conditions, making charges, and GST. Investors and buyers are advised to check with authorized jewelers for the most current quotes, as precious metal prices remain sensitive to global economic signals, currency fluctuations, and demand-supply dynamics.
Silver prices also mirrored the softer trend, with benchmark rates hovering around ₹2,40,000 per kilogram in some retail segments. The day’s movements highlight ongoing volatility in the commodities market as participants assess fresh economic data.
