Mumbai Gold Rate Today Continues To Fall For Second Consecutive Day | Check July 6 Price

Mumbai Gold Rate Today: The price of 24-karat, 22-karat, and 18-karat gold in Mumbai continues to fall for the second consecutive day on Monday, July 6. The decline in the gold rate today in Mumbai came as part of a wider bearish trend prevailing across the international commodity market. Silver rate today in Mumbai also followed the trend and saw some price correction.

The decline in gold rates came amid growing expectations for US Federal Reserve rate hikes and stability in crude oil prices. The recent decline has raised expectations of further price correction. For Mumbaikars, here are the latest details about the gold rate in the Maharashtra capital.

Mumbai Gold Rate Today

The price of 24-karat gold in Mumbai declined by Rs 11 per gram to Rs 14,611 per gram. Which means that per 10 grams of 24-karat gold in Mumbai fell by Rs 110 to Rs 1,46,110. The rate of 22-karat gold in Mumbai dipped by Rs 10 per gram to Rs 13,440 and by Rs 100 per 10 grams to Rs 1,34,400. The rate of 18-karat gold in Mumbai fell by Rs 8 per gram to Rs 10,9997 per gram.

Mumbai Silver Rate Today

Silver rate today in Mumbai also saw some price correction. Mumbai silver price today fell to Rs 245 per gram and to Rs 2,45,000 per kilogram. Silver rate in Mumbai saw severe volatility in January and February. The precious metal jumped significantly in January, followed by a steep crash in February.

International Gold Rate Today

International gold rate today remained below $4,250 per ounce. International gold price traded near $4,200 an ounce, as per Trading Economics data at 12:38 pm on Monday. The range-bound movement of the international gold price came as oil prices edged lower, as recovering energy flows through the Strait of Hormuz. The market is also adjusting to growing expectations of rate hike by US Federal Reserve.

"The softer jobs data has heightened investor sentiment towards precious metals, as they seek safe-haven assets amidst economic uncertainties. In the crude oil market, WTI crude is slightly up at $68.72 per barrel (approximately ₹6,556), though the gains are minimal, indicating a stable yet cautious outlook in energy prices," Gaurav Garg, research analyst at Lemonn markets desk.

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