Gold prices have recently seen significant volatility, driven by global factors. Gold's August contracts on the Multi Commodity Exchange of India (MCX) opened at Rs 97,600 per 10 grams on June 26.
Let's check the latest prices of 10 grams of 22 carat and 24 carat gold in major cities of the country on June 26:
| City | Price of 24k gold | Price of 22k gold |
| Delhi | Rs 99,100/10g | Rs 90,850/10g |
| Mumbai | Rs 98,950/10g | Rs 90,700/10g |
| Chennai | Rs 98,950/10g | Rs 90,700/10g |
| Kolkata | Rs 98,950/10g | Rs 90,700/10g |
| Bengaluru | Rs 98,950/10g | Rs 90,700/10g |
| Jaipur | Rs 99,100/10g | Rs 90,850/10g |
| Lucknow | Rs 99,100/10g | Rs 90,850/10g |
| Hyderabad | Rs 98,950/10g | Rs 90,700/10g |
| Ahmedabad | Rs 99,000/10g | Rs 90,750/10g |
"Gold prices are expected to see some consolidation amid lack of fresh cues from the market, with upside capped by weakness in the U.S. dollar. The ceasefire between Iran and Israel remains in place, with no escalation reported," said Pranav Mer, Vice President, EBG - Commodity & Currency Research, JM Financial Services.
"Focus going ahead will be on the trade negotiations between U.S. and its trading partners. The last date for the same comes close is at 8th July. On the data front, the focus will be on U.S. GDP and jobs data due later in the day, while the PCE data is scheduled on Friday, which Fed officials closely monitor to gauge the future policy path," Mer added.
Kaynat Chainwala, AVP-Commodity Research, Kotak Securities, said, "Today, gold prices held above $3,350 per ounce, buoyed by a softer dollar and declining Treasury yields amid reports that Trump is considering announcing a replacement for Fed Chair Jerome Powell as early as September or October, a move that could accelerate expectations of a US interest rate cut. Traders are also closely watching upcoming US economic data, including GDP figures, jobless claims, and comments from several Fed officials, for further cues on monetary policy."
Also read: Our LIVE blog on stock market updates
Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.
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