Gold price in India fell to Rs 88,210 per 10 grams as of 6:54 a.m. on April 7, according to the India Bullion Association, after it touched new highs last week.
Rates in New Delhi also declined to Rs 87,900 per 10 grams, according to the association. The price in Mumbai was lower at Rs 88,050. In Kolkata, the rate fell to Rs 87,940. While in Bengaluru, the rate was at Rs 88,120. With the price at Rs 88,310, Chennai continued to see the highest rate in the country.
The futures prices for the yellow metal on Multi Commodity Exchange were volatile as the price stood as Rs 88,130 for the June 5 futures.
Global Rates Today
Global spot gold prices fell over 2.2% to $3,000, after it was at a record high at $3,152, according to the World Gold Council. Price of the yellow metal crossed $3,000 an ounce for the first time ever on March 14, driven higher by a central bank buying spree and economic fragility worldwide. This comes after US President Donald Trump's tariffs pushed global markets down to Covid-19 levels.
Silver Rates Today
Silver price also fell to Rs 87,730 after it crossed Rs 1 lakh last week, according to the India Bullion Association. Strong industrial demand for silver, fueled by its importance in renewable energy technologies and electronics, has been driving the surge.
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