India retail gold slips on 6 July; 24K priced at ₹147,360/10 gm in Delhi and ₹147,620/10 gm in Mumbai
AI Market Summary
India's retail gold and silver prices eased marginally alongside slightly softer MCX bullion futures, reflecting reduced near-term demand for safe havens amid improved global risk sentiment and expectations the Fed may slow tightening. Concurrently, Brent slipped after OPEC+ agreed to raise August output and Strait of Hormuz exports recovered, reinforcing a softer inflation impulse that can weigh on precious metals in the short term.
Impact level
● Medium
Affected assets
NCCOGOLD2USD/USDT-1.41%
AI Insight · NCCOGOLD2USD/USDTAI Insight
▼ Bearish
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India’s retail gold prices edged lower on 6 July, with 24K gold at ₹147,360/10 gm in Delhi and ₹147,620/10 gm in Mumbai, while 999 silver in Delhi was ₹236,610/1 kg. On MCX, gold futures were down 0.01% at ₹147,830 per 10 grams and silver futures fell 0.19% to ₹237,250 per kg at around 9:13 am. Brent crude dipped 0.33% to $71.88 a barrel after OPEC+ agreed to raise output targets from August and exports via the Strait of Hormuz began recovering.
