By News18
Gold Prices In India Today, July 01: Gold prices in India on Tuesday experienced a massive jump of Rs 1,140 after declining continuously post the Iran-Israel ceasefire. In Mumbai, the price of gold stood at Rs 90,200 per 10 grams for 22-carat and Rs 98,400 per 10 grams for 24-carat.
Silver, on the other hand, also witnessed a rally of over Rs 2,300 in the morning session. Silver was trading at Rs 1,10,000 per kg in Mumbai.
Among the major commodities on MCX, gold futures (expiring on August 5, 2025) were trading higher at Rs 96,894 per 10 gram, up 0.85%, while silver (expiring on September 5, 2025) also saw a mild gain of 0.27%, reaching Rs 1,06,576 per kg.
Gold rebounded from five-week lows due to short covering and bargain hunting, while a weaker dollar鈥攈itting a 43-month low鈥攚hich favoured bullish sentiment in gold, explained Rahul Kalantri, VP Commodities, Mehta Equities, adding the decline of dollar index following weak U.S. GDP data and a stronger Euro, as concerns over U.S. tariffs and inflation continue to weigh.
He added that gold has support at $3285-3265 while resistance at $3335-3355. Silver has support at $35.74-35.55 while resistance is at $36.25-36.50.
What Is The Price Of 22kt, 24kt Gold Rates Today In India Across Key Cities?
22K Gold (per 10gm)
24K Gold (per 10gm)
What Factors Affect Gold Prices In India?
International market rates, import duties, taxes, and fluctuations in exchange rates primarily influence gold prices in India. Together, these factors determine the daily gold rates across the country.
In India, gold is deeply cultural and financial. It is a preferred investment option and is key to celebrations, particularly weddings and festivals.
With constantly changing market conditions, investors and traders monitor fluctuations closely. Staying updated is crucial for effectively navigating dynamic trends.