Gold Rate in India Stays Low on June 26; Falls Rs 14,500 This Week; Will Dip Continue? Check Latest Rates

Gold is getting cheaper in India, with prices continuing to slide amid the cooling of geopolitical tensions between Iran and Israel. The price of gold in India remained below Rs 99,000 per 10 gram on Thursday, mirroring the decline in international gold rates today amid dimming demand for the yellow metal among investors.

Gold rates in India declined significantly on Wednesday, but continued to remain stable on Thursday morning. Experts have hinted that the price of the metal may decline further later in the day. Consolidation in gold prices is the result of easing global tensions and the buildup of positive sentiment related to trade conflicts.

Gold Rate in India Today

Back in India, falling gold prices have brought cheer to jewellery buyers, who see gold not just as an investment but also as a symbol of beauty and a timeless fashion accessory. The price of 24 karat gold in India remained unchanged on Thursday morning and stood at Rs 98,950 per 10 grams. Likewise, the price of 22 karat gold in India remained low, but unchained from yesterday's price at Rs 90,700 per 10 grams. The price of 18 karat gold in India stood at Rs 74,210 per 10 grams.

While gold rates today remained unchanged, the price of gold in India has declined significantly in the last seven days. Gold price in India has declined by Rs 14,500 per 100 gram (in 24 karat category).

Silver Rate in India Today

The price of silver in India followed the trend and remained stable on Thursday. Silver price in India stood at Rs 108 per gram and Rs 108000 per kilogram on June 26. The price of silver has declined over the past few days. Despite the decline, the white metal is currently at its record high levels due to surge in industrial demand.

Gold Price Outlook

Bullion witnessed a sharp 2.2% fall and dipped below $3,296 per ounce on Tuesday, which was its biggest intraday fall since May 16. The decline has come in the backdrop of peace agreement between Israel and Iran announced by United States President Donald Trump. The gold prices in India are likely to consolidate further. "Gold prices are expected to pullback. One can buy at 97200 with a stop loss of 96900 for the target at 97700- 97900. One can also sell at 97900 with a stop loss of 98200," noted Nirmal Bang in its report on June 26.

Apart from geopolitical tensions, global investors are closely watching developments related to the US Federal Reserve and rate cuts to get clarity on the central bank's interest rate trajectory.

Silver Price Outlook

Unlike gold, there is a possibility of surge in silver prices today. Investors are supposed to keep a close watch of the price of the precious metal on the international market. "Silver prices are expected to rise. One can buy at 105500 with a stop loss of 104000 for the target 107000-108000," commented Nirmal Bang in its report.

Gold Rate Today In Mumbai, Bangalore, Delhi, Chennai, Other Cities

Gold rate today remained unchanged across Indian cities including Mumbai, Kolkata, Bangalore, Delhi, Chennai, Hyderabad, Pune, Noida, Gurugram, Jaipur, etc. The price of 24, 22, and 18 karat gold in Mumbai stood at Rs 9895, Rs 9070, and Rs 7421 per gram, respectively. Likewise, the price of 24, 22, and 18 karat gold in Bangalore remained at the same level as in Mumbai. Chennai gold rates are also similar to that of gold rates in Bangalore and Mumbai, except 18 karat gold rate, which stood at Rs 7475 per gram on Thursday. Delhi gold rates often remain an exception. The price of 24, 22, and 18 karat gold in Delhi stood at Rs 9,910, Rs 9,085, and Rs 7,431 per gram, respectively.

Disclaimer: The write-up is just for information purposes, and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on article mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.