Gold and Silver Prices in India Today, 2 July 2026: 24K Gold Rises 1.30% to ₹1,44,810, Silver Climbs to ₹2,30,530 on Short Covering
Gold price today, 2 July 2026: 24K gold rose 1.30% to ₹1,44,810 per 10g and silver climbed 0.77% to ₹2,30,530 per kg on short covering. Check city wise rates and MCX data.
Gold and silver prices rose in India today. 24K gold is at ₹1,44,810 per 10 grams, up 1.30% from yesterday's ₹1,42,950. Silver 999 Fine is at ₹2,30,530 per kg, up 0.77% from ₹2,28,770. On MCX, gold jumped 1.31% to ₹1,44,400 and silver rose 0.82% to ₹2,30,425. Comex gold climbed 1.35% to $4,093.10 per ounce. The rise in both metals was driven by short covering, even as inflation and rate hike worries stayed in the background.
Gold and Silver Rate Today in India by City
Rates vary slightly by city due to local taxes and transport costs.
| City | 22K Gold (per 10g) | 24K Gold (per 10g) | Silver (per kg) |
|---|---|---|---|
| Delhi | ₹1,32,743 | ₹1,44,810 | ₹2,30,530 |
| Mumbai | ₹1,32,593 | ₹1,44,650 | ₹2,30,530 |
| Chennai | ₹1,34,173 | ₹1,46,330 | ₹2,30,530 |
| Hyderabad | ₹1,32,593 | ₹1,44,650 | ₹2,30,530 |
| Bengaluru | ₹1,32,593 | ₹1,44,650 | ₹2,30,530 |
| Kolkata | ₹1,32,593 | ₹1,44,650 | ₹2,30,530 |
| Pune | ₹1,32,593 | ₹1,44,650 | ₹2,30,530 |
| Ahmedabad | ₹1,33,043 | ₹1,45,150 | ₹2,30,530 |
| Lucknow | ₹1,32,743 | ₹1,44,810 | ₹2,30,530 |
| Jaipur | ₹1,32,743 | ₹1,44,810 | ₹2,30,530 |
Rates are indicative bullion prices for 2 July 2026. Jewellery prices add making charges and GST.
Muskaan Kapoor
Why the Gold Rate Rose Today
Gold rose 1.30% today on short covering. Traders who had sold gold expecting further losses started buying back their positions. This created sudden buying pressure and pushed prices up. Comex gold rose 1.35% to $4,093.10 per ounce, recovering after briefly falling below $4,000 yesterday.
Gold is up 2.38% from a week ago. The month-on-month picture is still weak, with gold down 9.03% from 1 June. Inflation worries are keeping some buyers in the market, which is limiting how far prices can fall.
| Period | 24K Gold (per 10g) | Change |
|---|---|---|
| Today (2 July 2026) | ₹1,44,810 | — |
| Yesterday (1 July 2026) | ₹1,42,950 | 🟢▲ Up 1.30% |
| One Week Ago (25 June 2026) | ₹1,41,440 | 🟢▲ Up 2.38% |
| One Month Ago (2 June 2026) | ₹1,59,190 | 🔴▼ Down 9.03% |
| One Year Ago (2 July 2025) | ₹97,580 | 🟢▲ Up 48.40% |
Why the Silver Rate Rose Today
Silver rose 0.77% today to ₹2,30,530 per kg. Short covering helped silver recover despite a strong dollar and ongoing US rate hike fears. On MCX, silver rose 0.82% to ₹2,30,425, with a session high of ₹2,32,910 and a low of ₹2,22,500. Comex silver climbed 1.58% to $60.42 per ounce.
Silver is now up 7.84% from a week ago, which shows some recovery after a very rough June. It is still down 13.79% from a month back.
| Period | Silver 999 (per kg) | Change |
|---|---|---|
| Today (2 July 2026) | ₹2,30,530 | — |
| Yesterday (1 July 2026) | ₹2,28,770 | 🟢▲ Up 0.77% |
| One Week Ago (25 June 2026) | ₹2,13,770 | 🟢▲ Up 7.84% |
| One Month Ago (2 June 2026) | ₹2,67,390 | 🔴▼ Down 13.79% |
| One Year Ago (2 July 2025) | ₹1,06,730 | 🟢▲ Up 115.99% |
MCX Gold and Silver Rate Today
| Metal | MCX Price | Change | High | Low |
|---|---|---|---|---|
| Gold (per 10g) | ₹1,44,400 | 🟢▲ +₹1,869 (+1.31%) | ₹1,45,575 | ₹1,40,552 |
| Silver (per kg) | ₹2,30,425 | 🟢▲ +₹1,862 (+0.82%) | ₹2,32,910 | ₹2,22,500 |
Source: Bullions.co.in. Last updated 1 Jul 2026, 22:20 IST (evening session close).
Key Reasons Behind Today's Gold and Silver Price Rise
- Short Covering Drives the Bounce: Traders who had sold gold and silver heavily through June started buying back today. This is the main reason for today's rise in both metals.
- Inflation Worries Support Gold: Despite the Fed's hawkish stance, inflation concerns are bringing some buyers back into gold. This is helping limit the downside and support recovery.
- Comex Recovery Helps India: Comex gold crossed back above $4,000 today after dipping below that level earlier. When global prices rise, Indian MCX and retail rates follow.
- Silver Holds Up Despite Dollar Strength: Silver rose even as the dollar stayed firm. This shows some resilience in the metal after last week's sharp fall.
Should You Buy Gold or Silver Now
Gold is still 9.03% below where it was a month ago. Silver is 13.79% below its month-ago level. For long-term buyers, these levels are more attractive than June prices.
Do not rush a large purchase based on one day's rise. Spread your buying over a few weeks to reduce risk. Watch Fed news closely, as any fresh comment on rate hikes can move prices fast.
Always check the BIS hallmark before buying gold. Every piece must have a six-digit HUID code. For silver, look for the 999 or 925 purity mark.
FAQs
Why did gold and silver rise today?
Both metals rose on short covering. Traders who had sold gold and silver expecting more losses started buying back their positions today. This created quick buying pressure and pushed prices higher.
What is short covering?
Short covering is when a trader who had sold a commodity earlier buys it back to close out their position. It creates a sudden rise in prices. It does not always mean prices will keep going up, but it shows the immediate selling pressure has eased.
Is it a good time to buy gold in July 2026?
Gold is 9.03% cheaper than it was a month ago and still up 48.40% from a year ago. If you are buying for the long term, current prices are more attractive than June. Buy in small parts over a few days rather than all at once.
