- Gold and silver prices dropped Wednesday, extending domestic losses.
- Gold imports significantly slowed in May following Prime Minister’s appeal.
- RBI reported cooling investor interest in gold exchange-traded funds.
Gold Silver Rate Today:Gold and silver prices remained under pressure on Wednesday, with both precious metals extending losses in domestic trade. Retail gold prices edged lower across major cities, while silver also weakened in the bullion market.
On the Multi Commodity Exchange (MCX), gold futures for August delivery were trading 0.94 per cent lower at Rs 1,41,600 per 10 grams around 9:13 am. Silver futures also remained in negative territory, falling 1.86 per cent to Rs 2,24,520 per kg.
Retail prices mirrored the trend, with both 24-carat and 22-carat gold witnessing marginal declines in key cities across India.
Meanwhile, the Reserve Bank of India (RBI), in its latest Financial Stability Report (FSR), said the pace of gold imports slowed considerably in May after rising sharply earlier in the financial year.
According to the central bank, gold imports stood at around $12 billion in May, marking the third consecutive month of decline. The moderation came after Prime Minister Narendra Modi repeatedly urged citizens in May to curb gold consumption amid concerns over rising imports and pressure on the country’s external balance.
The appeals followed heightened geopolitical tensions in West Asia, which pushed crude oil and commodity prices higher and added pressure on the rupee, with concerns at the time that the domestic currency could weaken beyond the Rs 100-per-US dollar mark.
Despite the recent slowdown, the RBI noted that gold imports had increased significantly during FY27, largely due to the sharp rise in international gold prices. The report highlighted that petroleum and gold together account for more than half of India’s trade deficit, making the country’s external position vulnerable to fluctuations in global commodity prices.
The central bank also said elevated gold prices could provide some support to government finances at a time when higher crude oil prices, excise duty reductions and increased fertiliser subsidies are expected to put pressure on the fiscal position.
Separately, the RBI pointed to cooling investor interest in gold exchange-traded funds (ETFs). After witnessing a 190 per cent surge in FY26, gold ETFs recorded a net outflow of Rs 725 crore in May, compared with a net inflow of Rs 24,039 crore in January, indicating a moderation in investment demand.
The latest data comes as bullion prices continue to react to global economic developments, currency movements and investor sentiment, with market participants closely tracking both domestic demand trends and international price movements.
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Gold Rates Across Major Cities In India On July 1
Gold Prices in Delhi Today (Per 1 Gram)
24 Karat – 14,093
22 Karat- 12,920
18 Karat- 10,574
Gold Prices in Chennai Today (Per 1 Gram)
24 Karat – 14,291
22 Karat- 13,100
18 Karat- 10,940
Gold Prices in Bengaluru Today (Per 1 Gram)
24 Karat – 14,078
22 Karat- 12,905
18 Karat- 10,559
Gold Prices in Mumbai Today (Per 1 Gram)
24 Karat – 14,078
22 Karat- 12,905
18 Karat- 10,559
Gold Prices in Pune Today (Per 1 Gram)
24 Karat – 14,078
22 Karat- 12,905
18 Karat- 10,559
Gold Prices in Kolkata Today (Per 1 Gram)
24 Karat – 14,078
22 Karat- 12,905
18 Karat- 10,559
| City | 24k Gold Per Gram | 22k Gold Per Gram | 18k Gold Per Gram |
| Gold Rate in Hyderabad | 14,078 | 12,905 | 10,559 |
| Gold Rate in Ahmedabad | 14,083 | 12,910 | 10,564 |
| Gold Rate in Indore | 14,083 | 12,910 | 10,564 |
| Gold Rate in Lucknow | 14,093 | 12,920 | 10,574 |
| Gold Rate in Coimbatore | 14,291 | 13,100 | 10,940 |
| Gold Rate in Bhubaneswar | 14,078 | 12,905 | 10,559 |
| Gold Rate in Mysore | 14,078 | 12,905 | 10,559 |
| Gold Rate in Kanpur | 14,093 | 12,920 | 10,574 |
| Gold Rate in Salem | 14,291 | 13,100 | 10,940 |
| Gold Rate in Visakhapatnam | 14,078 | 12,905 | 10,559 |
| Gold Rate in Vijayawada | 14,078 | 12,905 | 10,559 |
| Gold Rate in Patna | 14,083 | 12,910 | 10,564 |
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Silver Price Across Major Cities In India On July 1
Silver Price In Delhi Today
The current silver price in Delhi stands at Rs 240 per gram and Rs 240,000 per kg.
Silver Price In Chennai Today
The current silver price in Chennai stands at Rs 245 per gram and Rs 245,000 per kg.
Silver Price In Bengaluru Today
The current silver price in Bengaluru stands at Rs 240 per gram and Rs 240,000 per kg.
Silver Price In Mumbai Today
The current silver price in Mumbai stands at Rs 240 per gram and Rs 240,000 per kg.
Silver Price In Pune Today
The current silver price in Pune stands at Rs 240 per gram and Rs 240,000 per kg.
Silver Price In Kolkata Today
The current silver price in Kolkata stands at Rs 240 per gram and Rs 240,000 per kg.
Silver Price Today in Major Indian Cities
| City | Per Gram | Per KG |
| Silver Rate in Hyderabad | 245 | 245,000 |
| Silver Rate in Ahmedabad | 240 | 240,000 |
| Silver Rate in Indore | 240 | 240,000 |
| Silver Rate in Lucknow | 240 | 240,000 |
| Silver Rate in Coimbatore | 245 | 245,000 |
| Silver Rate in Bhubaneswar | 245 | 245,000 |
| Silver Rate in Mysore | 240 | 240,000 |
| Silver Rate in Kanpur | 240 | 240,000 |
| Silver Rate in Salem | 245 | 245,000 |
| Silver Rate in Visakhapatnam | 245 | 245,000 |
| Silver Rate in Vijayawada | 245 | 245,000 |
| Silver Rate in Patna | 240 | 240,000 |
