The recent pullback in precious metals is largely attributed to investor speculation surrounding potential interest rate hikes, which have led to a cautious sentiment in the market.
Gaurav Garg,
Research analyst,
Lemonn markets desk
Mumbai, July 2, 2026: In today's commodity market, gold prices slightly dipped to $4,065.60 per ounce (approximately Rs1,24,144 per 10 grams), while silver also saw a minor decline to $59.98 per ounce (around Rs1,83,135 per kg). The recent pullback in precious metals is largely attributed to investor speculation surrounding potential interest rate hikes, which have led to a cautious sentiment in the market. Analysts suggest that while gold and silver may face resistance around $4,400 and $90 respectively in the latter half of 2026, any dips could present buying opportunities. Meanwhile, crude oil prices fell to $67.83 per barrel (approximately Rs6,442), driven by concerns over demand amid ongoing geopolitical tensions and a potential economic slowdown.
