Gold prices drop by Rs 10, silver falls by Rs 100; gold trading at Rs 72,220 | Latest Commodities Updates

### Regional Variations in Gold Prices
The consistency in gold prices across major cities like Mumbai, Kolkata, and Hyderabad indicates a stable market trend. It is interesting to note the slight variations in prices in other cities like Delhi, Bengaluru, and Chennai, showcasing different demand patterns.

In Mumbai, the price of ten grams of 22-carat gold is at par with that in Kolkata and Hyderabad, at Rs 66,240.

In Delhi, Bengaluru, and Chennai, the price of ten grams of 22-carat gold stood at Rs 66,390, Rs 66,240, and Rs 67,010, respectively.

The price of one kilogram of silver in Delhi is in line with the silver price in Mumbai and Kolkata at Rs 91,600.

The price of one kilogram of silver in Chennai stood at Rs 96,100.

### Global Trends in Precious Metals
While the domestic market is exhibiting stability, global gold prices are fluctuating as investors await crucial US inflation data. The anticipation of interest rate cuts by the Federal Reserve based on this data is impacting the international prices of gold, silver, and other precious metals.

US gold prices edged down on Tuesday, as investors await key US inflation data due this week that could offer fresh clues on how soon the Federal Reserve can cut interest rates.

Spot gold was down 0.1 per cent at $2,329.64 per ounce, as of 0114 GMT. US gold futures also edged 0.1 per cent lower to $2,342.00.

Spot silver fell 0.3 per cent to $29.53 per ounce, platinum rose 0.7 per cent to $1,001.25 and palladium gained nearly 1 per cent to $987.91.

(With input from Reuters)

First Published: Jun 25 2024 | 7:32 AM IST