Gold prices dropped amid global uncertainties. Gold's August contracts on the Multi Commodity Exchange of India (MCX) opened at Rs 97,172 per 10 grams on July 8.
Let's check the latest prices of 10 grams of 22 carat and 24 carat gold in major cities of the country on July 8:
| City | Price of 24k gold | Price of 22k gold |
| Delhi | Rs 98,990/10g | Rs 90,750/10g |
| Mumbai | Rs 98,840/10g | Rs 90,600/10g |
| Chennai | Rs 98,990/10g | Rs 90,600/10g |
| Kolkata | Rs 98,990/10g | Rs 90,600/10g |
| Bengaluru | Rs 98,990/10g | Rs 90,600/10g |
| Jaipur | Rs 98,840/10g | Rs 90,750/10g |
| Lucknow | Rs 98,840/10g | Rs 90,750/10g |
| Hyderabad | Rs 98,990/10g | Rs 90,600/10g |
| Ahmedabad | Rs 98,890/10g | Rs 90,650/10g |
"Easing geopolitical tensions — including a potential Israel-Hamas ceasefire and softened rhetoric around US-China trade — reduced safe-haven demand. Yet, fresh tariff threats on BRICS nations and uncertainty surrounding the July 9 trade deadline have kept volatility alive. Despite gold closing near a six-week low, elevated investor positioning reflected in rising net-long futures and ETF inflows suggests underlying bullish sentiment. In the near term, with no major US data scheduled, gold’s direction may hinge on trade developments and any surprises in Wednesday’s Fed minutes," said Riya Singh – Research Analyst, Commodities and Currency, Emkay Global Financial Services.
"This week, the expiry of the U.S. trade tariff extension timeline keeps uncertainty around global trade deals in focus. Participants expect a possible extension, which is keeping gold under slight pressure. Additionally, the upcoming U.S. Fed meeting minutes may offer deeper insights into the central bank’s last policy stance. Gold is likely to trade within a range of ₹95,500 – ₹97,500 in the near term," said Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities.
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