Gold prices eased from recent highs, with 24-carat gold in Delhi trading at ₹1,43,270 per 10 grams, as a stronger U.S. dollar offset continued safe-haven demand driven by Middle East tensions.
Key Highlights
- 24K gold: ₹1,43,270 per 10 grams; 22K gold: approximately ₹1,33,140 per 10 grams
- International gold traded near $4,030/oz, its lowest level since July 2, after Trump declared the Iran ceasefire over
- China’s central bank reported its largest monthly increase in gold reserves in over two and a half years in June
- Gold is up 22.59% year-over-year despite the recent pullback
Why It Matters
Gold typically benefits from geopolitical uncertainty, but a stronger dollar and rising Treasury yields have capped near-term gains even as central banks continue accumulating reserves — a sign of longer-term structural demand.
What to Watch
Investors are watching the USD/INR pair and upcoming Fed commentary, both of which will heavily influence domestic gold price direction in the coming weeks.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Gold prices vary by city and jeweller; please verify local rates before purchasing.
