India's Gold Prices Surge Above ₹1.46 Lakh per 10 g in Early July 2026
During the first week of July 2026, retail gold prices in India rose sharply. The 24‑carat (pure) gold rate reached between ₹1.46 lakh and ₹1.49 lakh per 10 g in major cities such as Delhi, Mumbai, Chennai and Kolkata, while 22‑carat gold traded around ₹1.34 lakh per 10 g. Silver also climbed, crossing the ₹2.5 lakh per kilogram mark.
Market analysts linked the rally to a weaker U.S. dollar index, lower crude‑oil prices and expectations of reduced inflation, after a soft U.S. non‑farm payroll report. International spot prices were near $4,180 per ounce for gold and $62 per ounce for silver. The Indian government’s recent increase of the gold import duty to an effective 15 % (10 % basic customs plus 5 % agricultural infrastructure cess) is intended to curb imports and ease foreign‑exchange pressure.
In neighboring Pakistan, gold prices showed a modest decline, with the tola price falling to roughly Rs 419,000–432,000, reflecting regional market movements.