Gold Prices Drop For Second Day — Check Rates In Delhi, Mumbai, Chennai And Other Cities

Gold prices continued to slide for the second day, trading at Rs 100,250 per 10 gm, compared to Rs 101,360 on Monday after US President's no-tariff call. Gold prices saw a slip on the global front after US President Donald Trump announced that “Gold will not be tariffed!” on Truth Social on Monday.

This came after the US customs authorities made public a letter saying that gold bars at two standard weights, one kilogram and 100 ounces, or 2.8-kilo gold bars, would be subject to the levies, according to an NDTV report.

In the last six months, the highest price that the yellow metal had soared to was Rs 1,02,090 on Aug. 10. The price of the commodity went as low as Rs 87,100 on April 7.

In New Delhi, the price declined to Rs 99,890 per 10 gm compared to Rs 101,000 on Monday. The gold price in Mumbai also declined to Rs 100,070 compared to Rs 101,180 per the previous day.

In Bengaluru, the rate stood at Rs 1,00,150, while in Kolkata, it was Rs 99,930 per 10 gm. The price of the precious commodity was the highest in Chennai, trading at Rs 1,00,360 per 10 gm.

The gold spot price was trading lower at $3,352 an ounce, according to the World Gold Council. Aug. 5 futures for the yellow metal were trading flat at Rs 1,00,153, according to the Multi Commodity Exchange.

The precious metal price was at Rs 1,13,810 per kilogram on the India Bullion Association. Aug. 5 futures for silver were trading 0.01% higher at Rs 1,13,738, according to the Multi Commodity Exchange.