what is gold price today 24 carat : July 2, 2025

what is gold price today 24 carat : July 2, 2025

Today’s gold price: On July 2, the local gold futures market saw a decline in gold prices.MCX Gold August contracts dipped to ₹97,160 per 10 grams after climbing more than 1% earlier because of a weak dollar index.

Today’s gold price: MCX Gold August 5 contracts fell to levels close to ₹97,160 per 10 grams on Wednesday,July 2,morning,as profit booking at higher levels pulled gold rates lower in the domestic futures market. The August contract of MCX Gold was down 0.07 percent at ₹97,185 per 10 grams at approximately 9:10 AM.

Also Read : what is gold price today 24 carat : July 1, 2025

After the dollar index fell to a three-year low of 96.38 in the previous session,gold August futures contract increased by more than 1%,finishing at ₹97,251 per 10 grams.

Gold prices were impacted by Federal Reserve Chair Jerome Powell’s cautious stance. Powell hinted that interest rates would stay high for a while when he stated on Tuesday that the effect of tariffs on inflation could become clear in the upcoming months.

Nonetheless,the majority of analysts continue to predict that the Fed may begin lowering rates in September and that two rate cuts may occur this year.

In the meantime,US job opportunities increased in May to their highest level since November,according to statistics from the Bureau of Labor Statistics.Openings increased by 3,74,000 to 7.77 million by the end of May.

Expectations regarding the US Fed’s interest rate trajectory will be shaped by the nonfarm payroll prints on Thursday and the US ADP employment data,which is due later today.

The outcome of trade talks between the US and its two main trading partners,Japan and India,is another area of interest for investors.

“Trump was sceptical about reaching a similar agreement with Japan, but expressed optimism on Tuesday about a potential trade deal with India,”according to Reuters.

The MCX Gold strategy of experts :
There are currently no new catalysts for gold that might keep prices in a consolidation phase.

Some analysts predict that gold prices will fluctuate,and they advise booking profits today.

“Geopolitical concerns,the dollar index’s volatility,and the US job data all point to continued volatility in gold and silver prices this week. “We advise booking profits in gold long positions,”Prithvifinmart Commodity Research’s Manoj Kumar Jain stated.

According to Jain,the resistance for gold is at $3,366-3,384 per troy ounce,while the support is at $3,327-3,309. In today’s session,the resistance for silver is at $36.30-36.60 per troy ounce,while the support is at $35.80-35.55.

While silver has support at ₹1,06,000-1,05,450 and resistance at ₹1,07,400-1,08,000,MCX Gold has support at ₹96,850-96,400 and resistance at ₹97,600-98,000. “Jain said.”

Disclaimer: The sole intention of this story is education.The opinions and suggestions expressed above are not those of bharatbulletin24x7.com,but rather those of individual analysts or broking firms. Since situations can change and market conditions can change quickly,we suggest clients to consult with qualified specialists before making any investment decisions.