Gold Price Today: The price of 24-carat gold fell ₹10 in early trade on Monday, with ten grams of the precious metal trading at ₹1,49,070, according to the GoodReturns website. The price of silver also declined by ₹100, with one kilogram of the precious metal selling at ₹2,59,900.
The price of 22-carat gold decreased by ₹10, with ten grams of the yellow metal selling at ₹1,36,640.
The price of ten grams of 24-carat gold stood at ₹1,49,070 in Mumbai, Kolkata, Hyderabad and ₹1,51,190 in Chennai.
In Delhi, the price of ten grams of 24-carat gold stood at ₹1,49,220.
In Mumbai, the price of ten grams of 22-carat gold was ₹1,36,640, the same as in Kolkata, Bengaluru, Hyderabad, and ₹1,38,590 in Chennai.
The price of one kilogram of silver in Delhi, Kolkata, and Mumbai stood at ₹2,59,900.
The price of one kilogram of silver in Chennai stood at ₹2,69,900.
US gold rose 2 per cent on Monday after US and Iran officials said they had reached a preliminary deal to end their conflict, pushing oil prices lower and easing concerns about inflation and higher interest rates.
Spot gold was up 2 per cent at $4,304.11 per ounce, as of 0122 GMT, hitting its highest level since June 9. US gold futures for August delivery rose 2 per cent to $4,325.20.
US and Iranian officials said on Sunday they had agreed on a framework to end their war, halt the US blockade of Iran and reopen the Strait of Hormuz.
The pact will be officially signed on Friday in Switzerland, Pakistani Prime Minister Shehbaz Sharif said in a post on X.
The US dollar fell to a 10-day low, making greenback-priced bullion cheaper for other currency holders, while oil prices slipped more than 4 per cent.
Gold prices have fallen about 20 per cent since the start of the US-Israeli war against Iran in late February. The effective closure of the Strait of Hormuz has led to a sharp increase in global oil prices, stoking inflation concerns and raising expectations of interest rates staying higher for longer.
Spot silver rose 3.1 per cent to $70.07 per ounce, platinum gained 3.1 per cent to $1,771.27 and palladium climbed 3.3 per cent to $1,325.76.
(with inputs from Reuters)
