There was a decline in gold prices in the national capital city on Tuesday. There was a fall of ₹1,400 in gold prices, which stood at ₹1.49 lakh per 10 grams. Silver prices too witnessed a fall of ₹200 and settled at ₹2,39,800 per kilogram.

The price of 99.9% purity gold fell by ₹1,400 to ₹1,49,250 per 10 grams (inclusive of all taxes), down from ₹1,50,650 in the previous trading session. The price of silver also declined by ₹200 and stood at ₹2,39,800 per kilogram (including all taxes) from Rs 2,40,000 per kilogram in the previous session.

Saumil Gandhi, Senior Analyst, Commodities, HDFC Securities, said that investors adopted a cautious stance ahead of the Federal Reserve's June meeting minutes and the second round of US-Iran peace talks. Both are expected to provide a new direction for gold prices. Analysts said that the sharp rise in the rupee against the US dollar also put pressure on domestic bullion prices. Research analyst Jatin Trivedi, Vice President, Commodities and Currency, LKP Securities, said that the weakness in gold prices increased after the rupee strengthened by 48 paise.

Jatin Trivedi further noted that the rupee strengthened after Saudi Arabia cut crude oil prices for Asian buyers. This eased concerns about India's import bill and put pressure on bullion. Spot gold fell $24.54, or 0.59 percent, to $4,140.59 per ounce in the international market. Silver also fell nearly 2 percent to $60.89 per ounce.

Praveen Singh, Head of Commodities at Mirae Asset Sharekhan, noted that crude oil prices have rebounded slightly following attacks on shipping near the Strait of Hormuz, leading to spot gold trading lower in international trade. He noted that these attacks have raised new concerns about the safety of ships transiting the Persian Gulf. This led to a rise in crude oil prices of more than one percent, and US Treasury yields and the dollar index moved higher, which in turn put pressure on precious metals.

Traders are awaiting the minutes of the Federal Open Market Committee meeting, the ADP report, initial jobless claims, and US inflation data for next week, said Kaynat Chainwala, AVP Commodity Research at Kotak Securities. Praveen Singh said precious metals are likely to remain range-bound in the near term, although a positive bias could return if geopolitical tensions in West Asia remain contained.

There was a decline in gold prices in the national capital city on Tuesday. There was a fall of ₹1,400 in gold prices, which stood at ₹1.49 lakh per 10 grams. Silver prices too witnessed a fall of ₹200 and settled at ₹2,39,800 per kilogram.

The price of 99.9% purity gold fell by ₹1,400 to ₹1,49,250 per 10 grams (inclusive of all taxes), down from ₹1,50,650 in the previous trading session. The price of silver also declined by ₹200 and stood at ₹2,39,800 per kilogram (including all taxes) from Rs 2,40,000 per kilogram in the previous session.

Saumil Gandhi, Senior Analyst, Commodities, HDFC Securities, said that investors adopted a cautious stance ahead of the Federal Reserve's June meeting minutes and the second round of US-Iran peace talks. Both are expected to provide a new direction for gold prices. Analysts said that the sharp rise in the rupee against the US dollar also put pressure on domestic bullion prices. Research analyst Jatin Trivedi, Vice President, Commodities and Currency, LKP Securities, said that the weakness in gold prices increased after the rupee strengthened by 48 paise.

Jatin Trivedi further noted that the rupee strengthened after Saudi Arabia cut crude oil prices for Asian buyers. This eased concerns about India's import bill and put pressure on bullion. Spot gold fell $24.54, or 0.59 percent, to $4,140.59 per ounce in the international market. Silver also fell nearly 2 percent to $60.89 per ounce.

Praveen Singh, Head of Commodities at Mirae Asset Sharekhan, noted that crude oil prices have rebounded slightly following attacks on shipping near the Strait of Hormuz, leading to spot gold trading lower in international trade. He noted that these attacks have raised new concerns about the safety of ships transiting the Persian Gulf. This led to a rise in crude oil prices of more than one percent, and US Treasury yields and the dollar index moved higher, which in turn put pressure on precious metals.

Traders are awaiting the minutes of the Federal Open Market Committee meeting, the ADP report, initial jobless claims, and US inflation data for next week, said Kaynat Chainwala, AVP Commodity Research at Kotak Securities. Praveen Singh said precious metals are likely to remain range-bound in the near term, although a positive bias could return if geopolitical tensions in West Asia remain contained.