GG News Bureau
New Delhi, 2nd July: Gold prices in India witnessed a significant increase on Wednesday, July 2, reversing a two-day decline. The surge comes as investors globally await crucial US payroll data, influencing market sentiment.
As of Wednesday, 24-carat gold was priced at ₹98,583 per 10 grams, while 22-carat gold stood at ₹90,383 per 10 grams. Across major Indian cities, gold prices saw a substantial rise, with 22-carat gold increasing by approximately ₹1,070 and 24-carat gold by ₹1,160 per 10 grams.
City-wise Gold Prices (per 10 grams) on July 2, 2025:
| City | 22K (per 10 grams) | 24K (per 10 grams) |
|---|---|---|
| Delhi | ₹90,383 | ₹98,583 |
| Mumbai | ₹90,237 | ₹98,437 |
| Chennai | ₹90,231 | ₹98,431 |
| Bengaluru | ₹90,225 | ₹98,425 |
| Kolkata | ₹90,235 | ₹98,435 |
| Pune | ₹90,243 | ₹98,443 |
Among the major cities, Delhi recorded the highest price for 24-carat gold at ₹98,583, while Bengaluru saw the lowest at ₹98,425. For 22-carat gold, Delhi again had the highest rate at ₹90,383, with Bengaluru recording the lowest at ₹90,225.
International Market and US Economic Data
Globally, gold prices edged lower on Wednesday after a rise on Tuesday. Spot gold was down 0.2 percent at $3,330.68 per ounce, and US gold futures fell 0.3 percent to $3,340.60, as reported by Reuters. This movement reflects investor caution as they await the release of critical US payroll data and assess Federal Reserve Chair Jerome Powell’s cautious stance on interest rate cuts.
Recent reports indicate that US job openings increased in May, but a decline in hiring was observed, signaling shifting labor markets, partly due to uncertainties stemming from Donald Trump’s tariff policies. Investors are keenly awaiting the employment data, due later today, and nonfarm payroll figures on Thursday for further insights into the labor market conditions.
Meanwhile, on the political front, the US Senate Republicans narrowly passed Donald Trump’s tax-and-spending bill on Tuesday. This package includes tax cuts, reductions in social safety net programs, and an increase in military spending, which is projected to add $3.3 trillion to the national debt.
