Gold Rate Today, July 6: Prices drop; check 24, 22, 18 carat gold rate across major cities

Gold prices slipped in the retail market on Monday (July 6, 2026), following last week's recovery. According to GoodReturns.in, 24 carat gold was priced lower by ₹110 at ₹1,46,620 per 10 gm. Similarly, 22 carat and 18 carat gold fell by ₹100 and ₹80, respectively, to ₹1,34,400 and ₹1,09,970 per 10 gm.

Reports suggest that after gold prices rebounded from a three-month low last week, physical gold demand in India eased on Friday following an initial pick-up during the week.

On July 6, 2026, gold prices across major brands are as follows:

Joyalukkas: 24-carat gold was quoted at ₹14,662 per gm, while 22-carat gold was priced at ₹13,440 per gm. Meanwhile, 18-carat gold was available at ₹10,996 per gm.

Kalyan Jewellers: 24-carat gold was priced at ₹14,673 per gm, while 22-carat gold was priced at ₹13,450 per gm. Meanwhile, 18-carat gold was available at ₹11,005 per gm.

Factors influencing gold rates in India

Mirroring movements in the international bullion market, gold on the MCX traded on a steady note with a negative bias. At around 9:10 am (IST), August futures were down 0.02% or ₹28 at ₹1,47,350 per 10 gm.

Internationally, US gold futures for August delivery continued to trade higher, gaining over 1% to $4,175.69 per ounce. Spot gold, however, was down 0.29% at $4,163.49 per ounce.

Last week, gold prices gained over 2% following softer-than-expected US jobs data, which to some extent eased expectations of a US Federal Reserve interest rate hike.

A weaker jobs market reduces the probability of inflation picking up again, giving the central bank more leeway to hold interest rates rather than raise them.

According to the CME FedWatch Tool, traders now anticipate a 55% chance of a rate hike in September, down from over 60% before the data.

Lower interest rates support bullion as it is a non-interest yielding asset.

Investors will now focus on the minutes of the Fed's June policy meeting, due to be released on Wednesday. The deliberations from the first meeting chaired by Kevin Warsh will offer cues on inflation and Fed's interest rate trajectory going forward.