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Informist, Tuesday, Jun. 30, 2026

By Taniva Singha Roy

MUMBAI – The all India average spot price of gold opened lower on Tuesday despite prices rising on the Multi Commodity Exchange of India and COMEX, as domestic demand was subdued. Gold of 99.9% purity opened at INR 140,382 per 10 grams, down from Monday's close of INR 141,421 per 10 grams.

In Mumbai, spot gold opened at INR 144,300 per 10 grams. Dealers are offering a discount of INR 1,500 per 10 grams, traders said. "Prices fell as demand is sluggish at the moment. Moreover, most of the gold coming into the market is recycled and not imported, which is why prices are lower," Kumar Jain, spokesperson for the India Bullion and Jewellers Association, said.

Meanwhile, renewed inflation concerns due to the war between the US and Iran sparked expectations of interest rate hikes by the US Federal Reserve this year, Amit Gupta, analyst at Kedia Advisory, said in a note. Geopolitical tensions intensified after fresh exchange of attacks between the US and Iran around the Strait of Hormuz. 

However, both sides later agreed to suspend further military action ahead of peace talks scheduled in Doha this week, which could ease expectations of a rate hike and lead to prices rising in the international market, traders said. This could cap losses in the domestic market.  End

Edited by Avishek Dutta

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