Gold and silver prices on July 3: Check latest rates in your city

Gold prices in India saw a drop of ₹10 on Monday. According to the website Goodreturns, which tracks prices of gold daily, one gram of 22-carat metal costs ₹5,405. On the other hand, one gram of 24-carat gold costs ₹5,896.

In Delhi, the price of 22K and 24K gold stood at ₹54,200 per 10 gms and ₹59,120 per 10 gms respectively. In India’s financial capital Mumbai, 22K gold was priced at ₹54,050 per 10 gms while 24K gold cost ₹58,960 per 10 gms.

Silver rates maintained the same price on Monday nationally, with minor changes in major Indian cities. According to the Goodreturns website, one kilogram of silver cost ₹71,900

In India, gold prices are determined by various factors including currency, international factors and government policies.

While, the price of silver is determined by factors like gold rates, industrial demand, bulk purchases, inflation etc. If the price of gold increases, the silver price is also influenced.