Gold Price Today: Yellow Metal Falls As Middle East Tensions Ease – Check Latest Rates In Delhi, Mumbai, Kolkata, Chennai

Gold Price Today: Gold prices fell sharply by Rs 930 to Rs 97,670 per 10 grams in the national capital on Friday as traders started selling amid easing tensions in the Middle East and positive updates about a trade deal between the US and China.

According to the All India Sarafa Association, gold of 99.9% purity had closed at Rs 98,600 per 10 grams on Thursday. Gold of 99.5% purity also declined by Rs 850 to Rs 97,200 per 10 grams, compared to Rs 98,050 in the previous session.

The de-escalation between Iran and Israel reduced immediate risk premiums, which pressured gold further. Silver prices slipped by Rs 100 to Rs 1,03,000 per kilogram from the previous close of Rs 1,03,100 per kg.

Gold Price Today In Mumbai, Bangalore, Hyderabad, Chennai, and Kolkata

In India, the price of 24-carat gold today is Rs 9,742 per gram in most cities, including Mumbai, Bangalore, Hyderabad, Chennai, and Kolkata, while it is slightly higher at Rs 9,757 in Delhi and Lucknow.

For 22 karat gold, the price is Rs 8,930 per gram in most cities and Rs 8,945 in Delhi and Lucknow. The price of 18-carat gold is Rs 7,307 per gram in most locations, Rs 7,319 in Delhi and Lucknow, and Rs 7,360 in Chennai.

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Is It The Right Time To Buy Gold?

Gold prices have dropped 3% this week as investors moved into stocks amid easing global tensions and a pause in tariff disputes.

Dr Renisha Chainani, Research Head at Augmont, said, “It is more likely that a decline below $3,300 is a sign of healthy consolidation than a trend reversal. It is a good time to buy gold if it is between $3,260 and $3,200, especially if you plan to hold it for a long time. A recovery above $3,300 might indicate that momentum has returned.”

Gold Price In International Market

In the international market, spot gold dropped by USD 43.45 or 1.31% to USD 3,284.40 per ounce. On Thursday, it had already fallen 2% to hit a near one-month low as the US-China trade agreement boosted investors’ risk appetite and weakened the safe-haven demand for bullion.

Spot gold eased 1.5% to $3,277.17 per ounce by 2 p.m. EDT after dropping to its lowest level since May 29 earlier in the session. Bullion has now declined for a second straight week, slipping 2.8% overall.

In the Middle East, the ceasefire between Iran and Israel continued to hold despite a few skirmishes.

Why Are Gold Prices Falling?

Meanwhile, US consumer spending unexpectedly fell in May, and inflation increases remained moderate. This led traders to expect the Federal Reserve will cut interest rates by 75 basis points in 2025, possibly starting in September.

A stable geopolitical and economic environment reduces gold’s appeal as a haven, and high interest rates make the non-yielding asset less attractive. Spot silver slipped 1.4% to $36.10, while platinum fell 5.3% to $1,341.57, though both metals were on track for weekly gains. Palladium rose 0.5% to $1,137.92 and was set for a second week of gains.