On July 4, domestic gold and silver prices rose, influenced by positive global cues. The increase was supported by a weaker US dollar, strong international spot prices, and sustained safe-haven demand due to geopolitical uncertainties.
Gold and silver prices witnessed fresh movement in the domestic bullion market on July 4, with both precious metals trading higher in line with positive global cues. Strong international spot prices, a weaker US dollar and continued safe-haven demand supported bullion prices, keeping gold above the Rs 1.48 lakh mark for 24-carat gold in several cities, while silver continued to trade at elevated levels.
According to the latest market rates, 24-carat gold was priced at Rs 1,47,010 per 10 grams in Mumbai, Bengaluru, Chennai, Hyderabad and Kolkata, while 22-carat gold stood at Rs 1,34,760 per 10 grams in these cities.
Silver prices also remained firm. The white metal was priced at Rs 2,50,100 per kg in most major cities, including Delhi, Mumbai, Bengaluru, Kolkata, Pune and Ahmedabad.
City-wise Gold and Silver Rates (July 4)
City 24K Gold (10 gm) 22K Gold (10 gm) Silver (1 kg)
Delhi Rs 1,47,160 Rs 1,34,910 Rs 2,50,100
Mumbai Rs 1,47,010 Rs 1,34,760 Rs 2,50,100
Kolkata Rs 1,47,010 Rs 1,34,760 Rs 2,50,100
Chennai Rs 1,49,570 Rs 1,37,010 Rs 2,60,100
Bengaluru Rs 1,47,010 Rs 1,34,760 Rs 2,50,100
Hyderabad Rs 1,47,010 Rs 1,34,760 Rs 2,60,100
Note: Retail gold and silver rates vary by city due to local taxes, transportation charges and jewellers' margins. MCX prices fluctuate during market hours and may differ from retail bullion prices.
The rally in bullion prices comes amid renewed expectations of interest rate cuts by the US Federal Reserve following softer economic data. A weaker dollar has made gold more attractive for global investors, while ongoing geopolitical uncertainties have further strengthened demand for safe-haven assets. Silver has also benefited from strong industrial demand alongside investment buying.
In India, bullion prices vary across cities because of differences in state taxes, transportation costs and jewellers' margins. Consumers planning to buy jewellery are advised to compare rates across retailers and opt for BIS hallmarked gold to ensure purity and authenticity. Making charges, GST and other levies are charged separately and can increase the final purchase cost.
With both gold and silver remaining near record-high levels, market participants are closely tracking global economic developments and currency movements, which are expected to influence bullion prices in the coming sessions.
