Gold, silver prices today, 6 July: Check retail rates of 24K, 22K gold, 999 silver in Delhi, Mumbai and Kolkata

Gold and silver prices: The price of the yellow metal in India's retail market declined on Monday, 6 July, amid hopes of a sustained global economic recovery, bolstered by a hopeful end to the war in the Middle East.

The US Federal Reserve is also expected to ease its aggressive rate-hike plan in the months ahead, with both 24-karat and 22-karat gold rates showing a marginal decline across major cities. Silver prices, on the other hand, also declined marginally in the domestic bullion market.

MCX gold rate on 6 July was trading 0.01% lower at ₹147,830 per 10 grams. MCX silver futures, on the other hand, were trading about 0.19% lower at ₹237,250 per kg at around 9:13 am.

Oil prices inched lower on late Monday after OPEC+ agreed to increase its output targets from August, while exports from key producers via the Strait of Hormuz are recovering, potentially adding to global supplies.

Brent crude futures slid 24 cents, or 0.33%, to $71.88 a barrel by 0010 GMT after settling 0.45% higher on Friday. US West Texas Intermediate crude was at $68.58 a barrel, down 11 cents, or 0.16%.

Important geopolitical developments

Lockheed Martin is leading the race for the $3.5 billion purchase of naval defence firm Ultra Maritime

Defence heavyweight Lockheed Martin is leading the race to buy naval defence group Ultra Maritime, according to CNBC US. The deal to acquire Ultra is roughly $3.5 billion, and Guggenheim and JPMorgan are advising on the sell-side, according to sources.

Private equity firm Advent International owns Ultra, which specialises in anti-submarine technology. The company makes radar and electronic warfare systems, as well as torpedo defence countermeasures.

Cargo vessel in Red Sea reports coming under attack, UK maritime body says

A cargo vessel in the Red Sea has reported coming under attack, the United Kingdom Maritime Trade Operations Centre, a British maritime security alert service, said Sunday, amid a fragile ceasefire between the US and Iran. The body said it received a report of the incident 30 nautical miles (56 km) southwest of the port city of Al Hudaydah in Yemen.

From Macron to Modi, governments are rolling out the red carpet for AI giants

Countries are scrambling to avoid falling behind in AI, and French President Emmanuel Macron and Indian Prime Minister Narendra Modi are leading a personal charm offensive to court tech CEOs, according to CNBC US. The pair have ramped up moves to court leaders of the world’s biggest tech companies this year, as they look to secure investment and major AI infrastructure projects.

Changes in gold and silver prices today

In the retail market, gold is sold in 24-karat and 22-karat purity. While 24-karat gold is considered the purest form, 22-karat gold is commonly used for jewellery because it's more durable.

Here's a look at the latest gold prices across major Indian cities on 6 July.

Gold Prices in New Delhi — 6 July

24 karat gold rate in New Delhi — ₹147,360/10 gm

22 karat gold rate in New Delhi — ₹135,080/10 gm

Silver 999 Fine rate in New Delhi — ₹236,610/1 kg

Gold Prices in Mumbai — 6 July

24 karat gold rate in Mumbai — ₹147,620/10 gm

22 karat gold rate in Mumbai — ₹135,318/10 gm

Silver 999 Fine rate in Mumbai — ₹237,010/1 kg

Gold Prices in Bengaluru — 6 July

24 karat gold rate in Bengaluru — ₹147,730/10 gm

22 karat gold rate in Bengaluru — ₹135,419/10 gm

Silver 999 Fine rate in Bengaluru — ₹237,200/1 kg

Gold Prices in Kolkata — 6 July

24 karat gold rate in Kolkata — ₹147,420/10 gm

22 karat gold rate in Kolkata — ₹135,135/10 gm

Silver 999 Fine rate in Kolkata — ₹236,700/1 kg

Gold Prices in Hyderabad — 6 July

24 karat gold rate in Hyderabad — ₹147,850/10 gm

22 karat gold rate in Hyderabad — ₹135,529/10 gm

Silver 999 Fine rate in Hyderabad — ₹237,390/1 kg

Gold Prices in Chennai — 6 July

24 karat gold rate in Chennai — ₹147,870/10 gm

22 karat gold rate in Chennai — ₹135,548/10 gm

Silver 999 Fine rate in Chennai — ₹236,960/1 kg