Gold and Silver Prices in India Today, 3 July 2026: 24K Gold Jumps to ₹1,48,460, Silver Surges to ₹2,38,730 After Weak US Jobs Data
Gold price today, 3 July 2026: 24K gold jumped 1.57% to ₹1,48,460 per 10g and silver surged 2.31% to ₹2,38,730 per kg after weak US jobs data reduced fears of a Fed rate hike. Check city wise rates and MCX data.
Gold and silver prices rose sharply in India today. As of 1:45 PM IST, 24K gold is at ₹1,48,460 per 10 grams, up 1.57% from yesterday's ₹1,46,160. Silver 999 Fine has surged to ₹2,38,730 per kg, up 2.31% from ₹2,33,340. The trigger is simple. The US jobs report for June came in much weaker than expected. This has reduced fears of a rate hike from the US Fed. When rate hike fears fall, gold and silver go up.
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 | ₹1,36,088 | ₹1,48,460 | ₹2,38,730 |
| Mumbai | ₹1,35,938 | ₹1,48,300 | ₹2,38,730 |
| Chennai | ₹1,37,518 | ₹1,49,980 | ₹2,38,730 |
| Hyderabad | ₹1,35,938 | ₹1,48,300 | ₹2,38,730 |
| Bengaluru | ₹1,35,938 | ₹1,48,300 | ₹2,38,730 |
| Kolkata | ₹1,35,938 | ₹1,48,300 | ₹2,38,730 |
| Pune | ₹1,35,938 | ₹1,48,300 | ₹2,38,730 |
| Ahmedabad | ₹1,36,388 | ₹1,48,800 | ₹2,38,730 |
| Lucknow | ₹1,36,088 | ₹1,48,460 | ₹2,38,730 |
| Jaipur | ₹1,36,088 | ₹1,48,460 | ₹2,38,730 |
Rates are indicative bullion prices for 3 July 2026. Jewellery prices add making charges and GST.
Muskaan Kapoor
Why Gold Price Rose Today
Gold has climbed to a two-week high today. The main reason is the US jobs report for June, which came in much softer than expected. Fewer jobs added means the US economy may be slowing down. This makes it less likely that the US Fed will raise interest rates. When rate hike fears ease, gold becomes more attractive to investors.
On MCX, gold rose 1.55% to ₹1,48,015 per 10 grams. The session high was ₹1,48,069, and the low was ₹1,47,375. Comex gold climbed 1.69% to $4,195.40 per ounce, reaching its highest level in two weeks. Gold is now up 2.69% from a week ago and 52.93% from a year ago.
| Period | 24K Gold (per 10g) | Change |
|---|---|---|
| Today (3 July 2026) | ₹1,48,460 | — |
| Yesterday (2 July 2026) | ₹1,46,160 | 🟢▲ Up 1.57% |
| One Week Ago (26 June 2026) | ₹1,44,570 | 🟢▲ Up 2.69% |
| One Month Ago (3 June 2026) | ₹1,58,560 | 🔴▼ Down 6.37% |
| One Year Ago (3 July 2025) | ₹97,080 | 🟢▲ Up 52.93% |
Why Silver Price Surged Today
Silver has surged 2.31% today to ₹2,38,730 per kg. Silver jumped even more than gold on a percentage basis. This is because silver is more sensitive to shifts in rate expectations. When rate hike fears ease, industrial and investment demand for silver picks up fast.
On MCX, silver rose 2.26% to ₹2,38,579 per kg. The session high was ₹2,38,876 and the low was ₹2,36,495. Comex silver jumped 3.62% to $63.28 per ounce. Silver is now up 6.93% from a week ago and 120.50% from a year ago.
| Period | Silver 999 (per kg) | Change |
|---|---|---|
| Today (3 July 2026) | ₹2,38,730 | — |
| Yesterday (2 July 2026) | ₹2,33,340 | 🟢▲ Up 2.31% |
| One Week Ago (26 June 2026) | ₹2,23,260 | 🟢▲ Up 6.93% |
| One Month Ago (3 June 2026) | ₹2,63,780 | 🔴▼ Down 9.50% |
| One Year Ago (3 July 2025) | ₹1,08,270 | 🟢▲ Up 120.50% |
MCX Gold and Silver Rate Today
| Metal | MCX Price | Change | High | Low |
|---|---|---|---|---|
| Gold (per 10g) | ₹1,48,015 | 🟢▲ +₹2,257 (+1.55%) | ₹1,48,069 | ₹1,47,375 |
| Silver (per kg) | ₹2,38,579 | 🟢▲ +₹5,275 (+2.26%) | ₹2,38,876 | ₹2,36,495 |
Source: Bullions.co.in. Last updated 3 Jul 2026, 13:45 IST.
Key Reasons Behind Today's Price Rise
- Weak US Jobs Data: The US jobs report for June showed far fewer jobs added than expected. This is the single biggest reason for today's sharp rise in gold and silver. A weaker job market means the Fed is less likely to raise rates.
- Fed Rate Hike Fears Ease: After weeks of rate hike worry pulling prices down, today's jobs data has shifted the mood. Markets are now less worried about a hike. This is bringing buyers back into gold and silver.
- Silver Outperforms Gold: Silver jumped more than gold today on Comex, up 3.62% versus gold's 1.69%. When rate fears ease, silver tends to recover faster than gold due to its industrial demand.
- Fed Chair Warsh Hints at Easing Inflation Risk: News from earlier this week that Fed Chair Kevin Warsh is seeing easing inflation risks also helped set a positive tone for both metals heading into today.
Should You Buy Gold or Silver Now
Gold is still 6.37% below its level from a month ago. Silver is 9.50% below. For long term buyers, current prices are still more attractive than early June levels. Today's sharp rise is good news and shows the market is responding well to softer economic data.
If you are buying for a wedding or investment, this could be a good time to start buying in small parts. Do not rush a large purchase after one day's jump. Spread it over a few sessions.
Always check the BIS hallmark before buying gold. Every item must have a six digit HUID code. For silver, look for the 999 or 925 purity mark.
FAQs
Why did gold and silver rise so sharply today?
The US jobs report for June came in much weaker than expected. This reduced fears that the US Fed will raise interest rates. When rate hike fears ease, gold and silver become more attractive and prices go up.
What does weak US jobs data mean for gold buyers in India?
When the US economy shows signs of slowing down, the Fed is less likely to raise rates. This weakens the dollar and boosts gold and silver. Indian prices rise in response to the higher global prices.
Is this a good time to buy gold or silver?
Gold is still 6.37% below where it was a month ago, despite today's rise. If you are buying for the long term, current levels are still reasonable. Buy in small parts over a few days rather than all at once.
