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Gold and silver prices fall on MCX amid strong US data, firm dollar and higher yields, crude eases near 70 dollars, India US trade deal nears completion says Sergio Gor
Gold and Silver Rates Today, July 01.
Gold Price Today, July 01: The metals have remained under pressure at the global level as strong US economic data has raised hopes of a rate hike by the Fed this year. Gold slipped below $4000 per ounce on Wednesday to trade near its lowest level in almost eight months.
Coupled with a stronger US dollar, higher bond yield, and profit booking have further weighed on gold prices, souring investor sentiment and cooling off safe-haven demand.
The latest JOLTS report showed job openings climbed to a two-year high.
Gold and silver prices fell sharply, up to 2 per cent, on Multi-Commodity Exchange (MCX), reflecting a correction phase following the phenomenal rally.
In Mumbai, prices of 24K gold stood at Rs 1,40,780 per 10 grams, while that of 22K dropped to Rs 1,29,050 per 10 grams.
MCX gold futures for August 2026 delivery traded at Rs 1,40,968 per 10 grams, losing 1.10%. Silver prices also edged lower, with MCX silver futures for July 2026 delivery trading at Rs 2,23,855 per kg, down 2.06%.
Crude oil prices remained at the level of $70 per barrel amid the easing of tensions. At its peak during the Iran-US war, oil prices crossed $120 per barrel. WTI and Brent crude oil prices stood at $69 and $73 per barrel, respectively.
What Is The Price Of 22kt, 24kt Gold Today In India Across Key Cities On July 01?
| City | 22K Gold (per 10gm) | 24K Gold (per 10gm) |
|---|---|---|
| Delhi | Rs 1,30,100 | Rs 1,40,920 |
| Jaipur | Rs 1,30,100 | Rs 1,40,920 |
| Ahmedabad | Rs 1,30,000 | Rs 1,40,820 |
| Pune | Rs 1,29,050 | Rs 1,40,780 |
| mumbai | Rs 1,29,050 | Rs 1,40,780 |
| Hyderabad | Rs 1,29,050 | Rs 1,40,780 |
| Chennai | Rs 1,29,050 | Rs 1,40,780 |
| Bengaluru | Rs 1,29,050 | Rs 1,40,780 |
| Kolkata | Rs 1,29,050 | Rs 1,40,780 |
India-US Trade Deal Very Close
United States Ambassador to India Sergio Gor on Monday said the India-US bilateral trade agreement is in its final stages, with negotiators working through the last 1 or 2% of the legal text.
Speaking at the IX US-India Strategic Partnership Forum (USISPF) Leadership Summit 2026, Gor said the deal has been under discussion for around 18 months, was briefly delayed by a recent judicial intervention, and has since been pushed back toward completion through high-level diplomatic engagement. He also said President Donald Trump remains committed to a “win-win” alignment with New Delhi.
About the Author
Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the I…Read More
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