Gold and silver prices: The price of the yellow metal in India’s retail market rose on Friday, 3 July, due to positive global cues, easing expectations of aggressive rate hikes by the US Federal Reserve, with both 24-karat and 22-karat gold rates showing a marginal increase across major cities. Silver prices, on the other hand, also increased in the domestic bullion market.
MCX gold rate on 3 July was trading 1.43% higher at ₹148,250 per 10 grams. MCX silver futures, on the other hand, were trading about 1.8% higher at ₹237,570 per kg at around 9:08 am.
Oil prices rose slightly today, ahead of a long holiday weekend in the US, as wary optimism held over efforts to broker peace between the United States and Iran. Brent futures were up 17 cents, or 0.24%, to $72.10 a barrel as of 0155 GMT. West Texas Intermediate was up 14 cents, or 0.20%, to $68.83 a barrel.
Important geopolitical developments
US President Donald Trump defends his business dealings
US President Donald Trump defended his family’s business dealings in an interview Thursday with CNBC’s Joe Kernen in the Oval Office at the White House. Trump said the presidency is so powerful that almost anything his children do could be considered a conflict.
Saudi Arabia has ramped up oil shipments through the Strait of Hormuz
Saudi Arabia has ramped up oil shipments through the Strait of Hormuz since the US and Iran signed an agreement last month to reopen the sea lane, according to CNBC US.
The Saudis have shipped about 34 million barrels of oil through Hormuz since 17 June, according to data from the trade intelligence firm Kpler. Riyadh’s exports over the past two weeks are more than double the 15 million barrels the kingdom shipped through the strait from 9 March through 17 June.
Russia launches massive strike on Ukraine as Poland scrambles jets
Russia, on late Thursday, launched a large-scale missile and drone attack on Ukraine, targeting Kyiv and other regions across the country.
Russia’s Defence Ministry said that it carried out a “massive strike using long-range precision air, land, and sea-based weapons and attack drones.”
Moscow said the strikes targeted military-industrial facilities, fuel and energy complexes in Ukraine’s capital and the Kyiv region, as well as military airfields in the Dnipropetrovsk, Poltava, Cherkasy and Chernihiv regions.
Changes in gold and silver prices today
In the retail market, gold is sold in 24-karat and 22-karat purity. While 24-karat gold is considered the purest form, 22-karat gold is commonly used for jewellery because it’s more durable.
Here’s a look at the latest gold prices across major Indian cities on 3 July 2026.
Gold Prices in New Delhi — 3 July
24 karat gold rate in New Delhi — ₹147,730/10 gm
22 karat gold rate in New Delhi — ₹135,419/10 gm
Silver 999 Fine rate in New Delhi — ₹236,730/1 kg
Gold Prices in Mumbai — 3 July
24 karat gold rate in Mumbai — ₹147,990/10 gm
22 karat gold rate in Mumbai — ₹135,658/10 gm
Silver 999 Fine rate in Mumbai — ₹237,130/1 kg
Gold Prices in Bengaluru — 3 July
24 karat gold rate in Bengaluru — ₹148,050/10 gm
22 karat gold rate in Bengaluru — ₹135,713/10 gm
Silver 999 Fine rate in Bengaluru — ₹237,200/1 kg
Gold Prices in Kolkata — 3 July
24 karat gold rate in Kolkata — ₹147,740/10 gm
22 karat gold rate in Kolkata — ₹135,428/10 gm
Silver 999 Fine rate in Kolkata — ₹236,700/1 kg
Gold Prices in Hyderabad — 3 July
24 karat gold rate in Hyderabad — ₹148,170/10 gm
22 karat gold rate in Hyderabad — ₹135,837/10 gm
Silver 999 Fine rate in Hyderabad — ₹237,390/1 kg
Gold Prices in Chennai — 3 July
24 karat gold rate in Chennai — ₹148,360/10 gm
22 karat gold rate in Chennai — ₹135,997/10 gm
Silver 999 Fine rate in Chennai — ₹237,710/1 kg
Source: Original Article
