Gold and silver prices declined again on Tuesday, June 30, the last trading day of June and the second trading session of the week, amid weakness in both international and domestic markets. According to experts, a ber US dollar, expectations of higher interest rates, and reduced investor appetite for safe-haven assets weighed on precious metal prices.
In the international commodity market, gold prices on COMEX declined by about 1.29%, falling approximately $52.10 to around $3,990 per ounce. Silver also remained under pressure, declining by more than 1.55%. Analysts attributed the weakness to improving global economic indicators and the strength of the dollar index, which led investors to reduce exposure to safe-haven assets.
Precious metals also traded lower on India's Multi Commodity Exchange (MCX). Gold fell by approximately ₹1,564 to ₹1,40,450 per 10 grams, while silver declined by around ₹1,546 to ₹2,20,247 per kilogram.
In the domestic spot market, gold prices also remained under pressure. Prices for 24-carat gold per 10 grams were ₹140,750 in New Delhi, ₹141,110 in Mumbai, ₹141,030 in Patna, ₹141,090 in Jaipur, and ₹141,140 in Kanpur.
Prices for 22-carat gold per 10 grams stood at ₹129,021 in New Delhi, ₹129,351 in Mumbai, ₹129,278 in Patna, ₹129,333 in Jaipur, and ₹129,378 in Kanpur.
Silver prices also remained under pressure across major cities. Silver was priced at ₹220,420 per kilogram in New Delhi, ₹220,940 in Mumbai, ₹220,820 in Patna, ₹220,910 in Jaipur, and ₹221,000 in Kanpur.
According to experts, both gold and silver remained under pressure throughout June. Despite intermittent recoveries, the overall trend during the month remained lower.
