Gold Price Dips to One-Week Low on June 20 — 22kt, 24kt Rates in Major Cities

Gold Prices Drop for Fourth Day, Near One-Week Low: June 20 Rates Across Indian Cities.

Gold prices continued to decline on Friday, June 20, marking the fourth consecutive day of losses, as investors sold off bullion to offset losses elsewhere amid rising tensions between Israel and Iran. The precious metal is now hovering near a one-week low, heading for its first weekly drop in three weeks.

Gold & Silver Prices in Mumbai (Spot Market):
22kt gold: ₹92,100 per 10 grams

24kt gold: ₹1,00,480 per 10 grams

Silver: ₹1,12,100 per kg

Note: These rates exclude making charges and 3% GST.

MCX Futures Update (12 PM):
Gold (Aug contract): ₹98,837 per 10 grams (▼0.50%)

Silver (July contract): ₹1,05,875 per kg (▼1.41%)

“Gold and silver are retreating from recent highs, driven by profit-booking and liquidation pressures. Despite geopolitical risk, investors are reallocating capital, causing bullion to weaken. Silver also slipped below $35.70/oz after last week’s surge.”

He added that although tensions in the Middle East are supportive of safe-haven assets, a steady U.S. dollar and Bank of England’s status quo on rates have capped further upside.

What’s Influencing Bullion Prices?
Geopolitical tensions: The Israel-Iran conflict initially spurred demand, but prices have since stabilized.

Global monetary policy: No surprise rate moves from the Bank of England; investors await cues from the Fed.

Currency impact: A weaker rupee is supporting domestic gold prices despite global softness.

Prices may remain range-bound in the near term. If the Middle East conflict intensifies or the dollar weakens further, a bounce-back in safe-haven demand could follow. However, in the absence of a major trigger, profit-taking may continue, especially ahead of quarter-end portfolio adjustments.

City	22K Gold (per 10gm)	24K Gold (per 10gm)
Delhi	Rs 92,250	Rs 1,00,630
Jaipur	Rs 92,250	Rs 1,00,630
Ahmedabad	Rs 92,150	Rs 1,00,530
Patna	Rs 92,150	Rs 1,00,530
Mumbai	Rs 92,100	Rs 1,00,480
Hyderabad	Rs 92,100	Rs 1,00,480
Chennai	Rs 92,100	Rs 1,00,480
Bengaluru	Rs 92,100	Rs 1,00,480
Kolkata	Rs 92,100	Rs 1,00,480