Gold prices climbed for the fourth consecutive session on July 6, driven by easing global inflation concerns and geopolitical developments. Meanwhile, silver saw a minor price decline. Domestic gold futures recently closed at approximately Rs 1,47,365 per 10 grams, reflecting the broader trend in global commodities.
Gold prices maintained their upward momentum on Monday, July 6, marking the fourth straight day of gains in international markets. Spot gold rose by 0.1% to reach $4,179.42 per ounce. This consistent rise is largely attributed to shifting investor sentiment regarding global inflation and recent diplomatic developments concerning US-Iran relations, which often influence the safe-haven appeal of the precious metal.
In contrast to gold, silver faced slight selling pressure, with spot prices dipping 0.2% to hover just above the $62 per ounce level. The difference in price movement between the two metals highlights how traders are currently positioning themselves in the commodities market, with gold remaining the preferred asset amid current macroeconomic conditions.
Domestic prices on the Multi Commodity Exchange (MCX) continue to track these global shifts. Gold futures concluded Friday’s session at roughly Rs 1,47,365 per 10 grams, while silver futures closed at Rs 2,37,499 per kilogram. These domestic rates are key reference points for Indian investors and jewelers monitoring the impact of international volatility on local costs.
Retail gold prices in India show distinct regional variations as of July 6. Chennai continues to record higher rates, with 24-carat gold priced at Rs 1,49,460 per 10 grams. In contrast, cities like Mumbai and Kolkata are seeing lower price points at Rs 1,46,730, while Delhi is positioned at Rs 1,47,160. These price differences are frequently influenced by local demand patterns, transportation costs, and state-specific tax structures.
For silver, retail rates remain largely uniform across major cities, with Delhi, Mumbai, Kolkata, and Hyderabad reporting a price of Rs 2,500 per 10 grams. Chennai again maintains a slight premium, with silver priced at Rs 2,600 per 10 grams. Investors tracking these commodities should watch for further updates on global inflation data and geopolitical stability, as these factors remain the primary drivers of price volatility in the near term.