Gold price dropped in the domestic market on Thursday as gold August futures were trading at Rs 47,776 per 10 gram on the Multi-Commodity Exchange (MCX). September silver futures were trading 0.52% lower at Rs 69,003 a kilogram.
At the international level, gold remained stable on Thursday. Meanwhile spot gold was at USD 1,803.01 per ounce. US gold futures edged 0.1% higher to move to USD 1,804.30 per ounce.
Benchmark US 10-year Treasury yields dropped to their lowest since February 19. The minutes from the Federal Reserve's June meeting showed officials felt its substantial progress goal on economic recovery has not yet been met.
Chennai Gold rate - Rs 45,140 per 10 gram of 22-carat and Rs 49,240 per 10 gram of 24-carat.
Mumbai Gold rate - Rs 46,980 per 10 gram of 22-carat and Rs 47,980 per 10 gram of 24-carat.
Delhi Gold rate - Rs 46,810 per 10 gram of 22-carat and Rs 50,860 per 10 gram of 24-carat.
Kolkata Gold rate - Rs 47,210 per 10 gram of 22-carat and Rs 49,910 per 10 gram of 24-carat.
Bangalore Gold rate - Rs 44,660 per 10 gram of 22-carat and Rs 48,720 per 10 gram of 24-carat.
Hyderabad Gold rate - Rs 44,660 per 10 gram of 22-carat and Rs 48,720 per 10 gram of 24-carat.
Kerala Gold rate - Rs 44,660 per 10 gram of 22-carat and Rs 48,720 per 10 gram of 24-carat.
Lucknow Gold rate - Rs 46,810 per 10 gram of 22-carat and Rs 50,860 per 10 gram of 24-carat.
Patna Gold rate - Rs 46,980 per 10 gram of 22-carat and Rs 47,980 per 10 gram of 24-carat.