Gold, Silver Remained Stable — Check Prices In Mumbai, Chennai, And Other Cities

Gold and silver prices continued to remain stable on Tuesday as the demand for safe haven assets remained eased.

This follows the volatile prices of precious metals last week, when the conflict between Israel and Iran in the Middle East was destabilising relatively riskier asset classes, leading to a spike in haven assets.

Gold price was trading at Rs 96,390 per 10 grams, down from its all time high of Rs 1,00,480 per 10 grams, as per the India Bullion Association.

Gold prices reached an all-time high, following Israel's military operations against Iran's nuclear power plant sites. However, tensions eased with US President Donald Trump announced that Israel and Iran have agreed to a "complete and total ceasefire".

In New Delhi, the price stood at Rs 96,050 per 10 grams, compared to Rs 95,450 per 10 grams on Monday. Gold price in Mumbai was Rs 96,210 per 10 grams, against Rs 95,620 per 10 grams.

In Kolkata, the rate was Rs 96,080 per 10 grams, while in Bengaluru the rate stood at Rs 96,290. Price for the precious commodity was the highest in Chennai, trading at Rs 96,490 per 10 grams.

Gold spot price was 0.50% higher at $3,320.16 an ounce on Tuesday.

Aug. 5 futures for the yellow metal saw a 0.04% increase to Rs 96,111, according to the Multi Commodity Exchange.

Silver price fell on Tuesday, standing at Rs 1,06,480 per kg, compared to Rs 1,06,460 per kg on Monday. July 4 futures for the commodity saw a 0.03% rise to stand at Rs 1,06,235 per kg.

Silver spot price was trading at $35.96 on July 01.