Lucknow Gold Prices Edge Higher On July 3; Check Details Here

India ranks as the second-largest gold consumer globally, trailing only China, with the bulk of its demand fulfilled through imports and a smaller portion derived from recycled gold

In international markets, spot gold dipped 0.4 per cent to $3,345.86 an ounce in Singapore

Source : ABPLIVE AI

After three consecutive sessions of gains, gold prices saw a slight pullback ahead of key US jobs data and clarity on the Federal Reserve’s policy outlook. Market sentiment was also weighed down by concerns over the US debt situation, tied to former President Donald Trump’s proposed $3 trillion tax and spending plan, dubbed the 'One Big Beautiful Bill' Act, and the upcoming tariff deadline on July 9.

In international markets, spot gold dipped 0.4 per cent to $3,345.86 an ounce in Singapore. The Bloomberg Dollar Spot Index remained flat, down 0.6 per cent for the week. Other precious metals, including silver, palladium, and platinum, also traded lower.

Domestic gold futures edged higher, supported by uncertainty surrounding the US-India trade negotiations and firm demand in spot markets. On the Multi Commodity Exchange (MCX), gold for August 5 delivery was trading 0.06 per cent higher at Rs 97,452 per 10 grams.

Gold Rate In Lucknow

In Lucknow, gold prices are slightly higher than in most other cities, with 22-karat gold priced at Rs 9,120 per gram and 24-karat (999) gold at Rs 9,948 per gram. Meanwhile, in cities like Chennai, Bengaluru, Mumbai, Pune, Kolkata, and Hyderabad, gold rates remain consistent at Rs 9,105 per gram for 22K and Rs 9,933 per gram for 24K. Ahmedabad and Indore recorded a marginally higher rate of Rs 9,110 per gram for 22-karat gold and Rs 9,938 per gram for 24-karat gold. These price variations reflect minor differences in local taxes, logistics, and demand-supply dynamics across regions.

Gold Consumption In India 

India ranks as the second-largest gold consumer globally, trailing only China, with the bulk of its demand fulfilled through imports and a smaller portion derived from recycled gold. Because gold is traded internationally in US dollars, any fluctuation in the dollar’s strength tends to have a direct impact on Indian gold prices. Domestically, several factors influence pricing, including import duties, the Goods and Services Tax (GST), and other regional levies.