Gold prices in India continued to rise for the third straight day on Wednesday, July 3, 2025, with constant weakness in the US dollar and the widespread market uncertainties associated with the upcoming global trade and economic growth.
According to the latest data, the price of 24 carat gold was $ 99,330 per 10 grams, which recorded an increase of £ 440 from the day before. Meanwhile, 22-Carat was gold at 91,050 per 10 grams of 10 grams per 10 grams after jumping £ 400. Despite this subsequent rally, the current gold price is still below a record height of $ 1.01,680 for 24 karat gold, registered June 14.
Gold Rate Today Across Different Purity Levels
Gold prices rose across all purity segments:
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22-carat gold: ₹91,050 per 10 grams (up ₹400)
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24-carat gold: ₹99,330 per 10 grams (up ₹440)
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18-carat gold: ₹74,500 per 10 grams (up ₹330)
For larger purchases:
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100 grams of 22-carat gold: ₹9,10,500
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100 grams of 24-carat gold: ₹9,93,300
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100 grams of 18-carat gold: ₹7,45,000
Silver Price in India Today
Silver followed a similar upward trend, increasing by ₹1,000 per kilogram. The new rates stand at:
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Silver per kg: ₹1,11,000
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Silver per 100 grams: ₹11,100
The price hike comes as the US dollar continues to show weakness, primarily due to concerns over government spending and trade policies.
MCX Gold and Silver Futures Today
Market activity on the Multi Commodity Exchange (MCX) also reflected positive momentum:
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MCX Gold (Aug 5, 2025 expiry): ₹97,524 per 10 grams (up ₹134 or 0.14%)
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MCX Silver (Sep 5, 2025 expiry): ₹1,07,636 per kg (up ₹118 or 0.11%)
This movement suggests strong investor sentiment ahead of upcoming U.S. economic indicators and trade negotiations.
Expert View and Outlook
Ajay Kedia, Director of Kedia Advisory, noted, “Gold prices gained 0.14% to settle at ₹97,390, supported by a weakening dollar as concerns around US fiscal stability grow. The recent Senate approval of a tax-and-spending bill projected to add $3.3 trillion to the US national debt has dampened investor confidence in the greenback.”
According to the World Gold Council, global gold demand rose 1% in Q1 2025, driven by a rise in investment inflows and gold bars, despite weaker jewellery sales and reduced central bank purchases.
On technicals, Kedia said, “Gold is in short-covering mode with open interest dropping 3.14% to 12,869 while prices moved up by ₹139. Support is seen at ₹97,095, and resistance around ₹97,580. A breakout could drive prices up to ₹97,775.”
Spot Gold and Silver Trends
Spot gold prices globally dipped slightly:
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Spot Gold: $3,354.70/ounce (down 0.07% or $2.65)
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Spot Silver: $36.62/ounce (up 0.20%)
This modest shift is attributed to reduced safe-haven appeal amid renewed optimism in trade developments, although concerns around US-Japan trade talks and fiscal pressure persist.
(Disclaimer: This article is for informational purposes only and should not be construed as an investment advice. Prior to making an investment, conduct thorough research and consult with your financial advisor.)
