Overview

• Retail gold prices climbed on July 2 to intra-week highs in major cities, reversing Monday’s retail dip reported by IBJA.
• Silver spot rates recovered across major centers on July 2 after earlier declines.
• MCX 5 August gold futures and 4 July silver futures softened slightly on July 2 after strong gains the previous day, reflecting shifting speculative sentiment.
• On July 1, gold futures surged by ₹890 to ₹96,965 and silver futures rose by ₹347 to ₹105,796 at midday, illustrating earlier bullish momentum.
• The latest divergence between higher spot rates and moderating futures underscores ongoing bullion market volatility shaped by consumer demand and speculative flows following June’s record peak.