Gold Rate In India Down Rs 39,000 In 22K/100 Grams From PEAK; June 30 Gold Outlook; 24K, 22K, 18K Gold Prices

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Gold rates in India are expected to be volatile, with 10 grams of yellow metal at MCX seen to range from Rs 96,000 to Rs 98,000 on Monday, June 30. If MCX moves below the Rs 96,000 mark, then more downward pressure is likely. Gold prices in India have been falling for the past six days, with 24-carat gold rates slipping by Rs 33,300 in 100 grams and Rs 3,300 in 10 grams.

 Notably, the 22-carat gold price has crashed by at least Rs 39,000 in 100 grams and by Rs 3,900 in 10 grams from their record high levels recorded in mid-June."The decline was further triggered by reports of a possible ceasefire between Iran and Israel, alongside official announcements from the US indicating progress on de-escalation. As geopolitical tensions ease, safe-haven demand for gold has weakened," said Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities.




On June 29, gold prices took a breather from their downward trend. 24-carat gold rates stood at Rs 97,420 per 10 grams and Rs 9,74,200 for 100 grams. 22-carat gold prices stood at Rs 89,300 in 10 grams and Rs 8,93,000 in 100 grams. Meanwhile, 10-gram and 100-gram gold prices were Rs 73,070 and Rs 7,30,700 for 18 carat. 22 Carat Gold Falls From Peak: On June 14, 10 grams and 100 grams of 22 carat gold had touched a new all-time high of Rs 93,200 and Rs 9,32,000 respectively. Taking into consideration yesterday's price, gold prices are down by Rs 3,900 in 10 grams and by Rs 39,000 in 100 grams from its peak.

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