Gold Price Today: Gold prices continued to soften on Monday morning, with rates slipping across several major Indian cities, including Delhi, Mumbai, Chennai, Kolkata, and Jaipur. Silver prices also edged lower, reflecting weakness in the precious metals market. Here's a detailed look at today's gold and silver prices and the factors influencing the market.

Gold Prices Continue to Ease

After witnessing fluctuations over the past week, domestic gold prices have once again moved lower. According to the latest market rates, both 22-carat and 24-carat gold became slightly cheaper in most major cities on June 29.

In the national capital, 24-carat gold is priced at ₹1,44,090 per 10 grams, while 22-carat gold is available at ₹1,32,090 per 10 grams.

Market data indicates that 24-carat gold has declined by as much as ₹2,510 per 10 grams over the past week, while 22-carat gold has fallen by nearly ₹2,300 during the same period.

Meanwhile, the international spot gold price was quoted at around $4,077.64 per ounce, reflecting continued movement in global bullion markets.

Gold Prices in Major Indian Cities

The latest retail prices for gold in key cities are as follows:

Among the major cities, Chennai continues to report the highest retail price for both 22-carat and 24-carat gold.

Silver Prices Also Decline

Silver also witnessed fresh weakness alongside gold.

The domestic silver price has slipped to ₹2,39,900 per kilogram, extending its downward trend over the past week. Market data indicates that silver prices have fallen by nearly ₹10,000 per kilogram during the last seven days.

In the international market, spot silver was trading at approximately $59.12 per ounce.

Why Are Gold Prices Changing?

Gold prices in India are influenced by a combination of international and domestic factors.

Global Gold Prices

International bullion prices play a major role in determining domestic gold rates. Any movement in global spot prices is generally reflected in Indian markets.

Currency Movements

Since India imports a significant quantity of gold, fluctuations in the rupee against the US dollar directly impact import costs and retail prices.

Import Costs and Duties

Customs duties, import expenses, and government taxes also contribute to the final price paid by consumers.

Domestic Demand

Seasonal demand during festivals, weddings, and investment buying can influence local prices, especially when combined with international market movements.

Geopolitical Developments

Global economic uncertainty, inflation expectations, interest rate decisions, and geopolitical events often affect investor demand for safe-haven assets such as gold.

Weekly Trend Remains Negative

Despite occasional day-to-day fluctuations, the overall weekly trend in precious metals remains on the weaker side.

Gold has recorded a noticeable decline over the past seven days, while silver has also lost ground. Investors continue to monitor international developments, currency movements, and broader economic conditions for indications of the next market direction.

Should Buyers Purchase Now?

For jewellery buyers, lower prices may present a better opportunity compared to the previous week's levels. However, market experts generally recommend comparing purity, making charges, hallmark certification, and local jeweller prices before making a purchase.

Investors looking at gold as a long-term asset should also consider broader market conditions and their individual financial goals rather than relying solely on short-term price movements.

Final Takeaway

Gold prices opened lower across most Indian cities on June 29, with both 22-carat and 24-carat rates witnessing fresh declines. Silver also remained under pressure, continuing its weekly downward trend. As global bullion prices and currency movements remain volatile, precious metal prices may continue to fluctuate in the coming sessions, making it important for buyers and investors to stay updated with the latest market rates before making any purchase.