Gold Prices In India Surge For Third Straight Day On July 3, Climbing Rs 4,000 22K/100 Grams; Silver Also Up

Gold prices in India today witnessed the rise in gold prices for the third day in a row on July 3. After last month's steep decline, the gold rate in India has rebounded strongly in the new month, due to bullish sentiment among investors and jewellers.

As of today, the 22-carat gold price in India has climbed to Rs. 91,050 per 10 grams, while the 24-carat gold rate has surged past Rs. 99,000 per 10 grams in major cities like Delhi, Mumbai, and Chennai.

Although gold rates underwent a solid recovery, they are still away from its all time high of 1,01,680 24-carat per 10 grams, marked on June 14. This sharp rise in gold prices today in India is due to global market uncertainties, including upcoming U.S. economic data and a weaker U.S. dollar, which are pushing gold prices higher.

Gold Rate in India Today

Gold prices in India saw a sharp rise on Thursday, July 3, across all major purity levels. The price of 22-carat gold increased by Rs 400, bringing the cost to Rs 91,050 per 10 grams. Similarly, 24-carat gold went up by Rs 440 and is now priced at Rs 99,330 per 10 grams. The rate of 18-carat gold also rose, gaining Rs 330 to reach Rs 74,500 per 10 grams.

For larger quantities, the price of 100 grams of 22-carat gold climbed by Rs 4,000 to Rs 9,10,500, while 100 grams of 24-carat gold rose by Rs 4,400 to Rs 9,93,300. The price of 100 grams of 18-carat gold also increased,by Rs 3,300 to make it reach at Rs 7,45,000.

Silver Price In India Today

Today, silver price in India also increased Rs 1,000 per kilogram, marking the price at Rs 1,11,000 and Rs 100 for 100 grams, costing it at Rs 11,100. This happened because the US dollar has stayed weak due to ongoing worries about trade and government spending.

MCX Gold and Silver Price in India Today

Currently, the bullion at MCX is trading on the the upside. MCX gold price with 5 August 2025 expiry, is at Rs 97,524 per 10 grams, up by Rs 134 or 0.14%. Also, MCX silver price with 5 September 2025 expiry, is marginally up by Rs 118 or 0.11% per kg costing it to Rs 1,07,636.

Gold Price Outlook

"Gold prices settled slightly higher yesterday, gaining 0.14% to close at 97,390, supported by persistent weakness in the US dollar amid deepening fiscal concerns and global trade uncertainties. The Senate's approval of Trump's tax-and-spending package, projected to add $3.3 trillion to the national debt, weighed on the greenback, while ongoing tensions over US-Japan trade talks also added to the cautious sentiment," said Ajay Kedia, Director of Kedia Advisory.

"According to the World Gold Council, global gold demand rose 1% year-on-year in Q1 2025, driven by a surge in investment inflows and bar demand, which offset weak jewellery sales and lower central bank purchases.

Technically, gold remains under short covering with a 3.14% drop in open interest to 12,869 while prices rose by 139 rupees. Immediate support is seen at 97,095, below which prices could test 96,805, while resistance is likely near 97,580 and a break above could push prices towards 97,775," added Ajay Kedia of Kedia Advisory.

Spot Gold Prices + Spot Silver Price Today

According to the latest update, "Spot gold is marginally down by 0.07% or 2.65 points trading at $3,354.70 an ounce, as of 11.18 GMT, giving back some of the gains from the previous session as optimism over trade developments reduced the metal's safe-haven appeal.

Meanwhile, spot silver is marginally up by 0.20% to $36.62 an ounce, gaining support from a weaker dollar amid growing trade and fiscal uncertainties in the US.

Disclaimer: The write-up is just for information purposes, and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on article mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.