Current Gold Prices: Market Trends and Analysis for July 2, 2026
Gold Prices Experience Fluctuations
On July 2, 2026, gold prices are witnessing notable fluctuations, with both domestic and international markets reflecting a downturn. In early trading on the Multi Commodity Exchange (MCX), August gold futures dropped by Rs 217, or 0.15%, settling at Rs 1,44,213 per 10 grams. In the physical market, the price of 24-carat gold in Delhi was reported at Rs 1,44,500 per 10 grams, inclusive of taxes. Bullion traders indicated a benchmark rate of Rs 1,44,740 per 10 grams, while the Indian Bullion and Jewellers Association (IBJA) listed 24-carat gold at Rs 1,41,632 per 10 grams this morning. According to GoodReturns, the retail price for 24-carat gold was Rs 1,40,930 per 10 grams.
Internationally, spot gold traded lower at $3,986.07 per ounce, pressured by a stronger US dollar and rising bond yields.
Gold Rates Across Major Cities
| City | 24 Carat Gold (10 grams) | 22 Carat Gold (10 grams) | 18 Carat Gold (10 grams) |
|---|---|---|---|
| Delhi | Rs 140930 | Rs 129200 | Rs 105740 |
| Mumbai | Rs 140780 | Rs 129050 | Rs 105590 |
| Kolkata | Rs 140780 | Rs 129050 | Rs 105590 |
| Chennai | Rs 142910 | Rs 131000 | Rs 109400 |
| Patna | Rs 140830 | Rs 129100 | Rs 105640 |
| Lucknow | Rs 140930 | Rs 129200 | Rs 105740 |
| Kanpur | Rs 140930 | Rs 129200 | Rs 105740 |
| Meerut | Rs 140930 | Rs 129200 | Rs 105740 |
| Ayodhya | Rs 140930 | Rs 129200 | Rs 105740 |
| Ghaziabad | Rs 140930 | Rs 129200 | Rs 105740 |
| Noida | Rs 140930 | Rs 129200 | Rs 105740 |
| Gurugram | Rs 140930 | Rs 129200 | Rs 105740 |
| Chandigarh | Rs 140930 | Rs 129200 | Rs 105740 |
| Jaipur | Rs 140930 | Rs 129200 | Rs 105740 |
| Ludhiana | Rs 140930 | Rs 129200 | Rs 105740 |
| Guwahati | Rs 140780 | Rs 129050 | Rs 105590 |
| Indore | Rs 140830 | Rs 129100 | Rs 105640 |
| Ahmedabad | Rs 140830 | Rs 129100 | Rs 105640 |
| Vadodara | Rs 140830 | Rs 129100 | Rs 105640 |
| Appearance | Rs 140830 | Rs 129100 | Rs 105640 |
| Pune | Rs 140780 | Rs 129050 | Rs 105590 |
| Nagpur | Rs 140780 | Rs 129050 | Rs 105590 |
| Nashik | Rs 140810 | Rs 129080 | Rs 105620 |
| Bangalore | Rs 140780 | Rs 129050 | Rs 105590 |
| Bhubaneswar | Rs 140780 | Rs 129050 | Rs 105590 |
| Raipur | Rs 140780 | Rs 129050 | Rs 105590 |
| Hyderabad | Rs 140780 | Rs 129050 | Rs 105590 |
Factors Influencing Gold Prices
Gold prices have continued to decline due to a weak global market, impacting investor confidence. On Wednesday, the price of 24-carat gold in Delhi fell by Rs 1,300, reaching Rs 1,44,500 per 10 grams, down from Rs 1,45,800 the previous day. Concurrently, international spot gold decreased by $21.75, or 0.54%, to $3,986.07 per ounce. The futures market mirrored this trend, with the August gold contract on the MCX dropping by Rs 1,701, or 1.19%, to Rs 1,40,830 per 10 grams as traders adjusted their positions amid weak demand.
Insights from Market Analysts
Market analysts have noted that the domestic gold prices are under pressure due to the strengthening dollar and rising US bond yields, which have negatively impacted demand for gold. Gaurav Garg, a research analyst, indicated that the overseas market has seen spot gold prices decline for three consecutive days, trading around $3,980 per ounce, as the US dollar index increased by 0.15% to 101.34. The strengthening dollar is believed to be limiting fresh demand in global markets by making gold more expensive for international buyers.