On July 3, 2026, precious metal markets in India displayed contrasting trends, with gold prices holding steady while silver experienced a significant upward movement. Silver crossed the ₹2.45 lakh mark per kilogram, even touching ₹2.5 lakh in certain regions, reflecting increased demand and market dynamics.
The stability in gold and the rise in silver prices are influenced by a complex interplay of international factors. A stronger US dollar and persistent expectations that the US Federal Reserve may maintain higher interest rates for an extended period have generally weighed on non-yielding assets like gold. Despite weakness observed in international bullion markets, domestic rates showed resilience for gold.
On the Multi Commodity Exchange (MCX), futures for both metals saw minor adjustments during the July 2 session. Gold futures registered a slight dip of 0.02%, settling above ₹1.45 lakh per 10 grams. Silver futures also saw a marginal decline of 0.04%, closing above ₹2.33 lakh per kilogram.
Retail Gold Prices Today
In the retail market, gold is primarily traded in two purities: 24-karat and 22-karat. While 24-karat is considered the purest form, 22-karat gold is widely preferred for crafting jewellery due to its enhanced strength and durability, achieved by alloying it with other metals.
24-Karat Gold Rates (per 10 grams) on July 3, 2026:
- Delhi: ₹1,43,940
- Mumbai: ₹1,43,790
- Bengaluru: ₹1,43,790
- Kolkata: ₹1,43,790
- Hyderabad: ₹1,43,790
- Chennai: ₹1,46,190
22-Karat Gold Rates (per 10 grams) on July 3, 2026:
- Delhi: ₹1,31,960
- Mumbai: ₹1,31,810
- Bengaluru: ₹1,31,810
- Kolkata: ₹1,31,810
- Hyderabad: ₹1,31,810
- Chennai: ₹1,34,010
Retail Silver Prices Today
Silver prices showed notable variation across major Indian cities on July 3, 2026, with some regions seeing the precious white metal touch higher benchmarks.
Silver Rates (per kilogram) on July 3, 2026:
- Delhi: ₹2,45,100
- Mumbai: ₹2,45,100
- Bengaluru: ₹2,45,100
- Kolkata: ₹2,45,100
- Hyderabad: ₹2,50,100
- Chennai: ₹2,50,100
Leading Jewellers' Rates (July 2, 2026)
Major jewellery retailers also reported largely stable gold prices on July 2, 2026. Joyalukkas quoted 22-carat gold at ₹13,823 per gram, while Malabar Gold & Diamonds offered it at ₹13,265 per gram. For 24-carat gold, Malabar Gold & Diamonds priced it at ₹14,470 per gram, and Tanishq's rate was approximately ₹14,348 per gram. These slight differences often stem from individual brand pricing strategies, procurement costs, and specific regional market conditions, though overall bullion trends remain the primary guide.
Market participants will continue to monitor global economic data, US interest rate decisions, and currency fluctuations for insights into future movements of precious metal prices.