Retail Gold price today on July 1, 2024
The gold market in India has experienced a marginal dip, with prices for 24 karat purity settling just below the Rs. 7,350 per 10 grams mark across major cities.
Retail Gold price today: Mumbai, Delhi, Ahmedabad
Mumbai currently leads the pack with the highest rate for 24K gold at Rs. 7,347.0 per 10 grams, closely followed by Delhi at Rs. 7,346.9 per 10 grams. Ahmedabad in the western region is quoting gold at Rs. 7,346.5 per 10 grams.
Retail Gold price today: Chennai, Kolkata, Bengaluru and other major cities
The tech hub of Bengaluru sees gold trading at Rs. 7,346.1 per 10 grams, while Chennai in the south offers it at Rs. 7,345.5 per 10 grams. Lucknow is not far behind, with rates at Rs. 7,345.4 per 10 grams.
Kolkata currently presents the most competitive rate among major cities, with 24K gold available at Rs. 7,345.0 per 10 grams.
This slight easing of gold prices comes amid a complex interplay of global and domestic factors. Market analysts attribute the dip to a strengthening US dollar and positive economic indicators from major economies, which typically dampen the appeal of gold as a safe-haven asset.
For Indian consumers, particularly those eyeing purchases for the upcoming festive and wedding seasons, this minor price correction might present a buying opportunity. Jewelers across the country are cautiously optimistic that the lower prices could stimulate demand, which had been somewhat subdued in recent weeks.
However, experts advise potential buyers to remain vigilant, as the gold market remains susceptible to rapid fluctuations influenced by global economic policies, geopolitical tensions, and shifts in investor sentiment.
Note: The retail gold prices are derived from benchmark rates in major bullion markets, with factors like local taxes, making charges, and premiums by jewellers influencing the prices across different cities.
Industry experts suggest tracking retail rates closely, as gold prices often fluctuate based on global cues, currency movements, and demand-supply dynamics in the domestic market.
