Overview

• On July 2 gold prices in major Indian centres settled around ₹98,500 per 10 grams for 24-carat and ₹90,300 for 22-carat following relief in Middle East tensions.
• Silver prices edged up to ₹106,730 per kilogram in spot trades with Multi Commodity Exchange September futures at ₹106,682 per kilogram.
• Gold futures expiring August 5 traded slightly lower at ₹97,200 per 10 grams and silver September contracts fell 0.42% to ₹106,263 per kilogram.
• International spot gold dipped 0.21% to $3,332.16 per ounce as a weaker dollar and lower US 10-year yields lent support to bullion.
• Analysts project gold to trade between ₹96,000 and ₹98,500 per 10 grams and $3,380–3,400 per ounce with potential swings expected as markets track the July 9 tariff deadline and upcoming US labour data.