Today Rate, 2 July: Check 18, 22 and 24 carat gold prices Chennai, Mumbai, Delhi, Kolkata and other cities
Gold has long held a significant place in Indian households—not only as a symbol of wealth and tradition but also as a reliable investment. Whether it’s for weddings, festivals, or saving for the future, Indians across regions closely track daily fluctuations in gold prices. On 2 July 2025, gold rates have once again seen slight variations across major Indian cities, influenced by global trends and domestic market movements. Let’s explore the latest 18K, 22K, and 24K gold rates in key metros such as Chennai, Mumbai, Delhi, and Kolkata, along with insights into what’s driving these changes.
📊 Latest Gold Prices in Major Indian Cities – 2 July 2025
Gold is priced differently in each city due to factors like local demand, import duties, transportation costs, and state-level taxes. Below are today’s prices per gram:
| City | 18 Carat (₹/g) | 22 Carat (₹/g) | 24 Carat (₹/g) |
|---|---|---|---|
| Delhi | ₹7,393 | ₹9,035 | ₹9,855 |
| Mumbai | ₹7,380 | ₹9,020 | ₹9,840 |
| Chennai | ₹7,440 | ₹9,020 | ₹9,840 |
| Kolkata | ₹7,163 | ₹8,755 | ₹9,551 |
| Bengaluru | ₹7,380 | ₹9,020 | ₹9,840 |
| Hyderabad | ₹7,380 | ₹9,020 | ₹9,840 |
These rates reflect averages across top jewellers and market sources. Prices are subject to slight variation depending on jeweller markups, making charges, and additional taxes like GST or TCS.
🌍 Why Do Gold Prices Vary Across Cities?
Gold rates in India are not uniform due to:
- Local demand and supply
- Logistics and transportation charges
- State-specific taxes
- Jeweller pricing strategies
For instance, Kolkata often shows slightly lower rates due to local sourcing and reduced logistics costs, whereas Delhi and Chennai usually reflect national averages or slightly higher figures owing to urban demand and brand-driven pricing.
🏦 What Affects Gold Prices Daily?
Gold prices in India are influenced by a combination of global and domestic factors:
- International Gold Prices: Changes in prices on the COMEX (Commodity Exchange) and global bullion markets directly impact Indian rates.
- Rupee-Dollar Exchange Rate: Since gold is imported in dollars, any depreciation in the rupee makes gold costlier.
- Inflation and Interest Rates: When inflation rises or interest rates are low, investors often turn to gold as a safer store of value.
- Central Bank Reserves and Policy: Buying/selling by the Reserve Bank of India (RBI) or global banks can influence prices.
- Geopolitical Stability: Wars, elections, and financial crises often drive investors toward gold, increasing its price.
📈 2 July Trends: Upward Momentum Continues
On 2 July, gold prices across India saw a marginal rise compared to the previous day. This uptick is attributed to:
- Renewed concerns about global inflation
- Uncertainty around US Federal Reserve rate hikes
- Higher demand from jewellers amid the ongoing wedding season in parts of India
Spot gold prices internationally hovered around $2,355 per ounce, while the MCX (Multi Commodity Exchange) reflected domestic rates above ₹97,500 per 10 grams for 24K gold—marking a steady upward trend from the previous month.
💍 What’s the Right Purity to Buy?
Depending on your purpose, you can choose between:
- 18K gold (75% purity): Ideal for fashion jewellery and less expensive than higher purities.
- 22K gold (91.6%): Most commonly used for traditional jewellery in India.
- 24K gold (99.9%): Preferred for investment (e.g., coins, bars), not suitable for daily wear jewellery due to softness.
💡 Tips Before Buying Gold Today
- Check purity: Look for BIS Hallmark symbols.
- Know the making charges: These can range from 8% to 25% depending on the jeweller and design.
- Ask for invoice: Always get a bill with tax and GST details.
- Compare rates: Use apps or websites like GoodReturns, LiveMint, or jeweller portals before finalising your purchase.
- Consider digital options: Platforms like Paytm, PhonePe, or banks offer Digital Gold with 99.99% purity and no making charges.
🔮 What to Expect in Coming Days?
Market analysts predict gold could remain bullish throughout July due to ongoing global economic uncertainty, crude oil volatility, and investor appetite for safe assets. With wedding and festival seasons approaching (Raksha Bandhan, Onam, etc.), demand in the domestic market is also expected to climb, especially for 22K jewellery.
For investors, gold remains a strong hedge against inflation. However, it’s advisable to wait for any corrections if you’re planning a bulk purchase or investment.
📌 Final Word
As of 2 July 2025, gold prices have risen slightly across India, reflecting broader global market dynamics. Whether you’re buying for a family event, festive occasion, or investment, it’s crucial to compare city-wise rates and understand the underlying factors influencing price shifts. With gold continuing to glitter in both tradition and markets, keeping track of daily rates ensures smarter buying decisions.
