Indian gold prices experienced marginal decrease while silver prices remained firm, outperforming gold. These trends are influenced by global economic indicators, US Federal Reserve policy expectations, international market fluctuations. Silver's strength is attributed to robust industrial demand from renewable energy & electronics sectors.
Gold prices eased marginally across major Indian cities on July 2, while silver remained firm in the domestic bullion market. The movement comes as investors closely monitor global economic indicators, US Federal Reserve policy expectations and fluctuations in international precious metal prices. Domestic bullion prices also mirrored trends in the MCX and COMEX markets.
According to the latest rates, 24-carat gold was priced at around Rs 1,40,920 per 10 grams, while 22-carat gold was retailing at approximately Rs 1,29,190 per 10 grams. Prices vary slightly from city to city depending on local taxes, transportation costs and jewellers' margins.
Silver, meanwhile, continued to outperform gold, trading at around Rs 2,40,100 per kg in the retail market. Strong industrial demand, especially from the renewable energy and electronics sectors, coupled with investor interest, has supported silver prices despite volatility in global markets.
Gold and Silver Rates Today (July 2, 2026)
| City | 24K Gold (10 gm) | 22K Gold (10 gm) | Silver (1 kg) |
| Delhi | Rs 1,40,920 | Rs 1,29,190 | Rs 2,40,100 |
| Mumbai | Rs 1,40,770 | Rs 1,29,040 | Rs 2,40,100 |
| Kolkata | Rs 1,40,770 | Rs 1,29,040 | Rs 2,40,100 |
| Chennai | Rs 1,44,560 | Rs 1,32,510 | Rs 2,44,900 |
| Bengaluru | Rs 1,40,770 | Rs 1,29,040 | Rs 2,40,100 |
| Hyderabad | Rs 1,40,770 | Rs 1,29,040 | Rs 2,44,900 |
On the futures market, MCX gold traded lower during early deals, reflecting weakness in international bullion prices, while MCX silver remained resilient. Globally, COMEX gold witnessed subdued trading as investors awaited fresh US economic data for clues on future interest rate decisions, whereas silver found support from robust industrial demand.
Bullion experts believe gold is likely to remain volatile in the near term as global macroeconomic developments, central bank policies and currency movements continue to influence investor sentiment. Silver is also expected to remain in focus due to its growing use in clean energy technologies and manufacturing. Buyers are advised to check local jewellers' prices, as making charges and GST are levied over the prevailing bullion rates.
