Gold and silver prices saw notable movement on July 4, 2026, with the yellow metal nearing the significant ₹1.5 lakh mark per 10 grams, and silver futures surging past ₹2.5 lakh per kilogram. These price adjustments occurred amidst a strengthening US dollar and growing expectations that the US Federal Reserve might maintain elevated interest rates for an extended period.
The prospect of higher interest rates typically diminishes the attractiveness of non-yielding assets like gold, yet the precious metal demonstrated resilience. Market participants are closely monitoring global economic data, US interest rate forecasts, and currency fluctuations for further indications of price direction in the bullion market.
Precious Metal Futures Performance
During the July 3 session on the Multi Commodity Exchange (MCX), gold futures experienced an increase of over 1.30%, settling at more than ₹1.47 lakh per 10 grams. Silver futures also saw a significant jump, rising over 1.62% to close above ₹2.37 lakh per kilogram.
Retail Gold Prices on July 4, 2026
In the retail market on July 4, 2026, gold continued to be primarily traded in two purities: 24-karat and 22-karat. While 24-karat is recognized as the purest form, 22-karat gold is widely preferred for jewelry due to its enhanced strength and durability from alloyed metals.
- Delhi: 24K gold at ₹1,47,160 per 10gm; 22K gold at ₹1,34,910 per 10gm.
- Mumbai: 24K gold at ₹1,40,010 per 10gm; 22K gold at ₹1,34,760 per 10gm.
- Chennai: 24K gold at ₹1,49,570 per 10gm; 22K gold at ₹1,37,010 per 10gm.
- Bengaluru, Kolkata, Hyderabad: 24K gold at ₹1,47,010 per 10gm; 22K gold at ₹1,34,760 per 10gm.
Leading Jeweller Rates
Major Indian jewellers like Joyalukkas and Malabar Gold & Diamonds quoted 22-carat gold at ₹13,475 per gram across several states on July 4, 2026. Tanishq’s 22K rate was slightly higher at ₹13,491 per gram. For 24-carat gold, Malabar Gold & Diamonds offered ₹14,700 per gram, while Tanishq’s rate was approximately ₹14,716 per gram.
These minor variations in retail prices are typically influenced by specific brand policies, procurement expenses, and local market conditions, though the overarching bullion trends continue to dictate overall gold prices.
Retail Silver Prices on July 4, 2026
Silver prices also saw significant movement in the retail market, crossing the ₹2.5 lakh per kilogram mark in several cities.
- Delhi, Mumbai, Bengaluru, Kolkata: Silver at ₹2,501 per 10gm, translating to ₹2,50,100 per kg.
- Hyderabad, Chennai: Silver at ₹2,601 per 10gm, translating to ₹2,60,100 per kg.
Market Outlook
Investors and traders will continue to monitor global economic indicators, particularly those from the United States, alongside the Federal Reserve's monetary policy decisions. These factors, combined with currency market dynamics, are expected to provide further guidance for precious metal price trajectories in the coming days.