Gold-Silver Rate Today: Gold prices are steadily falling across the country. After falling by ₹1,904 yesterday, prices have fallen again by ₹1,368 today. However, silver is seeing a significant increase.

Gold prices fall again today.

Gold-Silver Rate Today on July 3: Gold prices are continuing to decline today, offering significant relief to buyers. Gold is trading higher at $4151.80 per ounce, up 0.63% on COMEX, following a recovery from lower levels in international markets.

However, despite the improvement in international prices, prices in the domestic bullion market fell by 0.93% today compared to yesterday. The average price of gold in the country today is ₹1,45,900 per 10 grams, compared to ₹1,47,268 yesterday. This means prices have fallen by ₹1,368 per 10 grams in a single day.

In the national capital, Delhi, gold prices opened today at ₹145,650 per 10 grams, which is ₹250 lower than the national average. If you're considering diamond jewelry or lightweight gold jewelry, the price of 18-carat gold is ₹1,026 per 10 grams cheaper today than yesterday. The price of 18-carat gold today is ₹109,425 per 10 grams.

Why are gold prices falling in India?

As you know, gold is trading 0.63% stronger on COMEX today. In contrast, gold in India has weakened by 0.93%. There are several reasons for this:

The wedding season in India has just ended. Furthermore, the continuously falling gold prices have raised fears of a price crash. Consequently, instead of buying gold, people are selling it. People are selling their old gold in the bullion market to extract cash. This has led to a sudden increase in the supply of gold in the market, but the prices are falling due to the decrease in demand.

The government recently increased the customs duty on gold from 6% to 15%. It also urged citizens to postpone gold purchases for the next year. Consequently, people are refraining from purchasing gold. Due to the low demand, dealers are selling gold at reduced premiums. The strengthening of the dollar in the international market is also a major reason for the decline in prices.

Bumper jump in silver prices

Silver is trading at $61.75 per ounce on COMEX, up 1.12% today. Silver also saw a significant rise of 1.35% in the domestic bullion market, bringing the price to Rs 2.32 lakh per kilogram. With a 1.35% increase today, silver has become more expensive by Rs 3,091 per kilogram compared to yesterday.