Gold Prices Today: Yellow Metal Prices Dips, Know Gold Rates In Key Indian Cities

The prices of the safe-haven asset gold witnessed a significant dip in prices from its all-time high levels. It was trading ats USD 13.140 much below levels of USD 3,500 posted in April. marking a 10 per cent fall.

On Thursday, gold prices fell down by over 2 per cent from the last session, and reached a five-week low. This occurred as a result of relaxation in global trade-off tensions, which reduced the demand for safe-bet assets, especially one's favoured during recessionary fears.

What impacts gold prices In India?

US President Donald Trump had mentioned continuing talks with South Korea, Japan, and India, as the US and China agreed to drastically reduce tariffs and started a 90-day truce to complete a larger agreement.

With Indo-Pakistan tensions easing and growing hopes that Donald Trump would relax sanctions on Syria during his Middle East visit, geopolitical risks also decreased.

Expectations for potential rate reduction by the Federal Reserve, which are generally supportive of non-yielding assets, were strengthened by lower-than-expected US inflation figures.

City-wise gold prices in India

Gold price today in India is Rs 91,250, down by Rs 8,750, a fall of 8.75 per cent from the lifetime high of Rs 1 lakh recorded on April 22. On MCX, the gold futures contracts for August, October, and December are, however, trading higher than the current gold prices.

In Kolkata, the price for 22k gold is Rs 88,190, and Rs 96,200 for 24k gold. In Mumbai, the cost of 22k gold stands at Rs 88,190, and Rs 96,200 for 24k gold. Meanwhile in Bengaluru, the cost of 22k  gold is Rs 88,190, and Rs 96,200 for 24k gold.

Gold recognized as ‘God of Uncertain Times’, providing a secure haven during economic turmoil and high debt levels among central banks.

The latest change of events appears to have halted the world’s bleak economic outlook. The Trump administration is aggressively negotiating with other countries, and markets anticipate a lower tariff structure soon. Trump’s tone has shifted substantially, with suggestions of potential reconciliation with other trading partners besides China.