Gold, silver rates today: Gold, silver gain on MCX as investors await US payroll data

On Thursday, July 3, 2025, gold and silver prices moved higher in both Indian and international markets. This rise comes as investors wait for the important US payroll data to be released. Many investors are holding back from making big investments until the report comes out, as it could give hints about future interest rate decisions.

In India, gold prices on the Multi Commodity Exchange (MCX) showed small changes in the early trading hours but later moved up. The gold futures contract, which will expire on August 5, 2025, opened slightly lower at ₹97,389 per 10 grams. This was just ₹1 less than its previous closing price of ₹97,390. However, gold quickly gained strength and touched a high of ₹97,780.

At around mid-day, the gold price was seen trading at ₹97,614. This means it was up by ₹224 or around 0.23% from the earlier close.

Silver futures also gain

Silver followed a similar trend on Thursday. The silver futures contract, which will expire on September 5, 2025, opened lower at ₹1,07,411 per kg, down ₹107 from the previous close. It even dropped to a low of ₹1,07,246 before recovering later in the day.

Silver then rose sharply and touched a high of ₹1,08,499. At the time of the last report, it was trading at ₹1,08,260. This shows a gain of ₹742 or 0.69% compared to the last closing price. So, despite starting the day in the red, both gold and silver moved up as the session progressed.

Gold prices were also up in the international market. On COMEX, which is the global commodity exchange, gold rose by 0.28%. The price of gold was around USD 3,369 per troy ounce.

The spot price of gold—meaning the current market price—was approximately USD 3,357.26 per ounce at 11:50 am (IST). These gains reflect investors' cautious optimism as they wait to see if US job numbers will affect interest rate decisions by the Federal Reserve.

The global market watches the US payroll data closely. If job numbers are strong, it may lead to tighter monetary policies like increased interest rates, which usually makes gold less attractive. On the other hand, weak job data may lead to lower interest rates, which supports gold prices.

City-wise gold prices in India

Here is a look at gold prices in major Indian cities on July 3, 2025:

• Delhi:

  • 24-carat gold was priced at ₹99,480 per 10 grams.

  • 22-carat gold was available at ₹91,200 per 10 grams.

• Mumbai:

  • 24-carat gold was selling for ₹99,330 per 10 grams.

  • 22-carat gold was priced at ₹91,050 per 10 grams.

• Kolkata:

  • 24-carat gold cost ₹99,330 per 10 grams.

  • 22-carat gold stood at ₹91,050 per 10 grams.

• Chennai:

  • 24-carat gold was available at ₹99,330 per 10 grams.

  • 22-carat gold was also priced at ₹91,050 per 10 grams.

This shows that the price of gold was almost the same across Mumbai, Kolkata, and Chennai, while Delhi had slightly higher rates.

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City-wise silver prices in India

Silver rates were also different in various cities. Here's how much consumers had to pay for 1 kg of silver:

• Delhi: ₹1,11,000 per kg

• Mumbai: ₹1,11,000 per kg

• Kolkata: ₹1,11,000 per kg

• Chennai: ₹1,21,000 per kg

It is interesting to note that while Delhi, Mumbai, and Kolkata had similar prices, silver in Chennai was ₹10,000 more expensive per kg.

Gold and silver have always been seen as safe investments, especially during uncertain times. With the US payroll data expected soon, many investors are waiting to see what direction the economy might take. Until that happens, market activity may remain cautious, with slight increases or corrections based on global cues.

The small rise in both gold and silver prices today shows that while investors are careful, they are still keeping an eye on precious metals as a secure option. Any major surprise in US economic data could cause a sharp movement in prices in the coming days.

For now, both Indian and global markets are showing mild optimism, and gold and silver are reflecting this sentiment in their rates.