Gold rate today: Prices in India rise after two-day drop | Citywise rates

Gold prices in India increased on Wednesday after seeing two days of decline. The gold prices on Wednesday, July 2, were at ₹ 98,583 for 24 carat gold while the rate was ₹ 90,383 for 22 carat gold. 

Gold price declined in international market as investors wait for US payroll data amid uncertain labour market.(Pexels/Representational Image)

There was a surge in gold prices across major cities with an overall price increase of around ₹ 1,000.

Citywise gold prices

Overall, across major cities the gold prices surged by ₹ 1,070 for 22 carat gold and by ₹ 1,160 for 24 carat gold per 10 grams.

Among the major cities the gold rate of 24 carat gold was the most in Delhi, priced at ₹ 98,583. While it was the lowest in Bengaluru with price ₹ 98,425. In Mumbai gold was priced at ₹ 98,437 and in Chennai it was ₹ 98,431. In Kolkata the gold price was also around the same with ₹ 98,435. Follow for live updates on gold prices

In terms of 22 carat gold price per 10 grams, gold prices declined by ₹ as compared to the prices on Tuesday. In Delhi, the gold rate was ₹ 90,383, while in Mumbai gold was priced at ₹ 90,237. For the metropolitan cities of Kolkata, Chennai and Bengaluru the gold rate was ₹ 90,235, ₹ 90,231 , ₹ 90,225 respectively. For 22 carat gold, the price was the highest in Delhi while it was the lowest in Bengaluru.

Gold rate decline in international market

After the rise of gold rates in the international market on Tuesday, prices edged lower on Wednesday. The prices come amid the investors still waiting for US payroll data and assessing Federal Reserve Chair Jerome Powell's cautious stance on rate cuts. With this, spot gold on Wednesday was down 0.2 per cent at $3,330.68 per ounce, while US gold futures fell 0.3 per cent to $3,340.60, Reuters reported.

US job openings increased in May but a decline in hiring was seen with shifting labour markets due to Donald Trump’s tariff uncertainty, Reuters reported. Investors now await for the employment data, due later in the day, and nonfarm payroll figures on Thursday for further insights into labour market conditions. Meanwhile, the US Senate Republicans narrowly passed Trump's tax-and-spending bill on Tuesday, a package cutting taxes, reducing social safety net programmes, and boosting military spending, while adding $3.3 trillion to the national debt.