Gold Rate Today, July 7: Prices continue to fall; check 18, 22, 24 carat gold rate across jewellers

Gold prices continued to decline for the third straight day on Tuesday (July 7, 2026). According to GoodReturns.in, the price of 24 carat gold fell by ₹1,360 to ₹1,45,260 per 10 grams. Similarly, 22 carat and 18 carat gold declined by ₹1,250 and ₹1,030, respectively, to ₹1,33,150 and ₹1,08,940 per 10 grams.

Over the last 10 days, 24 carat gold prices have traded in the range of ₹1,40,000 to ₹1,47,000 per 10 grams.

On July 7, 2026, gold prices per gm across major brands are as follows:

Tanishq: 24 carat gold at the jeweller quoted at ₹14,575, while 22 carat and 18 carat are priced at ₹13,360 and ₹10,931 per gm, respectively.

Joyalukkas: 24 carat gold quoted at ₹14,525 per gm, while 22 carat gold was priced at ₹13,315 per gm. Meanwhile, 18 carat gold was available at ₹10,894 per gm.

Kalyan Jewellers: 24 carat gold was priced at ₹14,662 per gm, while 22-carat gold was available for ₹13,440 per gm. Meanwhile, 18-carat gold was available at ₹10,997 per gm.

Malabar Gold: 24 carat gold is priced at ₹14,525 per gm. On the other hand, 22 carat gold is priced at ₹13,315.

Factors influencing gold rates in India

Gold prices on the MCX traded lower, in line with weakness in international markets today. At around 9:50 am, MCX gold August futures were down ₹1,024, or 0.7%, at ₹1,45,893 per 10 grams. In the previous session, the contract settled at ₹1,46,917.

The prices declined as investors awaited the release of the minutes of the US Federal Reserve's June policy meeting for cues on the central bank's monetary policy path. The minutes of the Federal Open Market Committee's (FOMC) June meeting are scheduled to be released on Wednesday.

Spot gold was down 0.82% at $4,131 per ounce at the time of writing, while US gold futures for August delivery fell 0.62% to $4,141.61 per ounce.

After falling more than 25% from the record highs scaled earlier this year, gold prices hit a two-week high on Monday as inflationary concerns eased. In addition, last week's US jobs data tempered expectations of a Federal Reserve interest rate hike in the near term.

According to the CME FedWatch Tool, traders now assign a 56% probability to a September interest rate hike, compared with a 60% probability before the release of the jobs data.

Lower interest rates generally make non-yielding assets such as gold more attractive to investors.