Daijiworld Media Network- Mumbai

Mumbai, Jul 2: Gold and silver prices remained largely muted across Indian cities on Wednesday, even as global uncertainties and geopolitical developments kept market sentiment cautious. While demand for safe-haven assets showed signs of cooling, traders remain watchful ahead of the July 9 tariff decision by Donald Trump, which could spark renewed volatility in bullion markets.

According to the India Bullion Association, gold prices slipped slightly, trading at Rs 97,580 per 10 grams, down from its recent all-time high of Rs 1,00,480.

City-wise gold rates are as follows:

• Mumbai: Rs 97,400 per 10 grams (up from Rs 96,210 on Tuesday)

• New Delhi: Rs 97,230 per 10 grams (up from Rs 96,050)

• Kolkata: Rs 97,270 per 10 grams

• Bengaluru: Rs 97,480 per 10 grams

• Chennai: Rs 97,680 per 10 grams (highest across metro cities)

On the international front, gold spot price declined marginally by 0.21%, standing at $3,332.16 per ounce as of Wednesday. Analysts attributed the stable tone to tempered demand and cautious optimism in global financial markets.

Meanwhile, silver prices in India edged slightly higher, touching Rs 1,06,730 per kg, compared to Rs 1,06,480 the previous day. Futures contracts for delivery on September 5 saw a modest 0.03% gain, trading at Rs 1,06,682 per kg.

The international silver spot price was recorded at $35.08 per ounce on July 2.

Market experts warn of possible price swings in the coming week due to macroeconomic triggers, especially trade tensions and any escalation in global conflicts. For now, however, gold and silver continue to trade in a consolidated range, offering a brief respite to both investors and consumers.