Gold rates declined across major Indian cities on June 1, while silver prices remained unchanged amid stable market conditions
New Delhi: Gold prices in India started June on a weaker note, extending the decline witnessed over the weekend. On Monday, the price of gold fell by Rs 75 per gram across major markets, bringing relief to buyers and jewellery consumers. While international bullion markets showed mixed trends, domestic gold rates declined, while silver prices remained stable for yet another day.
According to the latest market rates, the price of 22-carat gold in India has dropped to Rs 14,320 per gram, while 24-carat gold is being sold at Rs 15,622 per gram. The decline has also impacted jewellery gold prices, which eased from Rs 14,395 per gram to Rs 14,320 per gram.
Silver prices, meanwhile, have shown remarkable stability over the past two weeks, with no revision announced on June 1. The precious metal continues to trade at Rs 280 per gram in most major cities, while select southern markets are witnessing slightly higher rates.
"Gold prices declined by Rs 75 per gram on June 1, while silver rates remained unchanged across most Indian cities."
Latest Gold Rates in India on June 1
The current market price of 10 grams of 22-carat gold stands at Rs 1,43,200, while 10 grams of 24-carat gold is priced at Rs 1,56,220.
The latest nationwide rates are:
- 24-carat gold (1 gram): Rs 15,622
- 22-carat gold (1 gram): Rs 14,320
- 18-carat gold (1 gram): Rs 11,717
- Silver (1 gram): Rs 280
The fall in gold prices is expected to attract buyers planning jewellery purchases, investments, and wedding-related shopping, particularly as rates remain below recent highs.
Bengaluru Gold Price Today
Bengaluru continues to mirror national pricing trends, with gold and silver rates remaining aligned with several other metropolitan cities.
Current rates in Bengaluru are:
- 24-carat gold (1 gram): Rs 15,622
- 22-carat gold (1 gram): Rs 14,320
- Silver (1 gram): Rs 280
The Karnataka capital remains one of the key bullion markets where investors and jewellery buyers closely track daily movements in precious metal prices.
22-Carat Gold Prices Across Major Indian Cities
Gold prices continue to vary slightly between cities due to local taxes, transportation costs, and market demand.
The price of 22-carat gold per gram on June 1 is:
- Bengaluru: Rs 14,320
- Chennai: Rs 14,500
- Mumbai: Rs 14,320
- Delhi: Rs 14,335
- Kolkata: Rs 14,320
- Kerala: Rs 14,320
- Ahmedabad: Rs 14,325
- Jaipur: Rs 14,335
- Lucknow: Rs 14,335
- Bhubaneswar: Rs 14,320
Among major markets, Chennai continues to record the highest 22-carat gold price at Rs 14,500 per gram.
International Gold Prices Show Mixed Trends
While domestic gold prices declined, international markets witnessed mixed movements across major trading hubs.
The price of 24-carat gold per gram in selected global markets is:
- Malaysia: 593 Ringgit (approximately Rs 14,174)
- Dubai: 547.50 Dirhams (approximately Rs 14,135)
- United States: 149.50 Dollars (approximately Rs 14,172)
- Singapore: 197.50 Singapore Dollars (approximately Rs 14,653)
- Qatar: 547 Qatari Riyals (approximately Rs 14,225)
- Saudi Arabia: 563 Saudi Riyals (approximately Rs 14,222)
- Oman: 57.50 Omani Rial (approximately Rs 14,157)
- Kuwait: 45.67 Kuwaiti Dinar (approximately Rs 13,988)
Analysts note that fluctuations in global gold prices, currency movements, central bank policies, and geopolitical developments continue to influence domestic bullion markets.
Silver Prices Remain Stable Across Cities
Unlike gold, silver prices have remained unchanged and continue to trade within a narrow range across major Indian markets.
Current silver prices per gram are:
- Bengaluru: Rs 280
- Chennai: Rs 290
- Mumbai: Rs 280
- Delhi: Rs 280
- Kolkata: Rs 280
- Kerala: Rs 290
- Ahmedabad: Rs 280
- Jaipur: Rs 280
- Lucknow: Rs 280
- Bhubaneswar: Rs 290
- Pune: Rs 280
Southern markets such as Chennai, Kerala, and Bhubaneswar continue to record slightly higher silver prices, at Rs 290 per gram, compared with other major cities.
"Silver prices have remained largely unchanged for nearly two weeks, reflecting stability in domestic bullion markets."
What Buyers Should Know About Gold and Silver Rates
Market experts point out that retail gold and silver prices may vary slightly between jewellers depending on local demand, inventory levels, making charges, and applicable taxes. Consumers should also note that GST and jewellery-making charges are generally charged separately and can significantly influence the final purchase price.
With gold prices witnessing a fresh decline at the beginning of June, market participants will closely monitor global economic developments and domestic demand trends for further direction in the precious metals market.
