Gold Prices Soar by ₹1,000 on July 1: Check Today’s Updated Rates Across India

Gold Prices Jump ₹1,140; Silver Surges ₹2,300 — Latest Rates for July 1

Gold prices in India saw a sharp rise of ₹1,140 on Tuesday, July 1, snapping a multi-day decline after easing tensions between Iran and Israel. In Mumbai, the yellow metal was priced at:

• ₹90,200 per 10 grams (22-carat)
• ₹98,400 per 10 grams (24-carat)

Silver prices also rallied, jumping over ₹2,300. It is now trading at ₹1,10,000 per kg in Mumbai.

Market Snapshot (MCX Futures)

• Gold (Aug 5, 2025 expiry): ₹96,894/10g (▲ 0.85%)
• Silver (Sep 5, 2025 expiry): ₹1,06,576/kg (▲ 0.27%)

Why the Sudden Spike?
According to Rahul Kalantri, VP–Commodities at Mehta Equities, the jump is due to:

• Short covering
• Bargain buying
• Weak U.S. dollar (43-month low)
• Soft U.S. GDP data
• Renewed global inflation worries

These factors have lifted investor interest in safe-haven assets like gold and silver.

Technical View

• Gold support: $3,265–$3,285
• Gold resistance: $3,335–$3,355
• Silver support: $35.55–$35.74
• Silver resistance: $36.25–$36.50

What Drives Gold Prices in India?
Global bullion rates

Rupee-dollar exchange rate

Import duties and GST

Demand during festivals and weddings

Central bank policy decisions

Gold is not just an investment in India — it’s part of cultural identity. With prices fluctuating due to international cues, staying updated is key for investors, traders, and consumers alike.