Representational image
Representational image

Today (July 2), gold prices have dropped across all gold categories. The rate of fine gold (99.9) has dropped to Rs 48, 490 per 10 grams, from yesterday’s (July 1) rate of Rs 48, 890 per 10 grams. This is excluding Goods and Service tax and making charges.

Meanwhile, 22-carat gold costs around Rs 46, 840 per 10 grams on July 2, whereas it was Rs 47, 220 per 10 grams on July 1. There was a drop of Rs 380 in 22-carat gold at retail. This is as per India Bullion and Jewellers Association Ltd’s (IBJA) indicative retail selling rates. All the rates are excluding taxes and making charges.

According to IBJA indicative retail rate, a 18-carat gold jewellery will cost around Rs 38,790 per 10 grams today, which is Rs 320 cheaper compared to yesterday. On July 1, a 18-carat gold jewellery was priced at Rs 39,110 per 10 grams.

A 14-carat gold jewellery’s prices has also dropped by Rs 260 per 10 grams, from Rs 32, 510 per 10 grams in July 1 to Rs 32, 250 per 10 grams in July 2.

Gold futures on MCX was down to Rs 48,188 per 10 grams by Rs 500 compared to the previous session. Meanwhile, silver futures on MCX was down by Rs 900 compared to the previous session.

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