Gold Price Today: Gold Extends Decline for Second Day; Check Latest 24K, 22K and 18K Rates Across Major Cities

Gold prices in India continued their downward trend for the second consecutive day on June 2, 2026, bringing some relief to buyers planning jewellery purchases or investments. Silver prices also moved lower after remaining unchanged for three straight sessions, reflecting weakness in the broader precious metals market.

Market analysts attribute the latest decline in bullion prices to changing global sentiment and reduced investor demand for safe-haven assets. Meanwhile, concerns over industrial demand weighed on silver prices, leading to a fresh correction in the metal.

If you are planning to buy gold today, here is a detailed look at the latest rates for 24-carat, 22-carat, and 18-carat gold in major Indian cities, along with updated silver prices.

Gold Prices Fall for the Second Consecutive Session

Gold has remained under pressure over the last two trading sessions. According to market data, 24-carat gold has declined by ₹810 per 10 grams over the past two days, while 22-carat gold has become cheaper by ₹760 per 10 grams during the same period.

After remaining unchanged on May 31, gold prices resumed their decline, with a minor drop recorded across key cities on June 2. In the national capital, both 24-carat and 22-carat gold prices slipped by ₹10 per 10 grams compared to the previous session.

The latest correction comes amid fluctuations in global markets and changing investor sentiment toward precious metals.

Latest Gold Rates in Major Indian Cities

The table below shows the prices of 24-carat, 22-carat, and 18-carat gold per 10 grams in some of India's leading cities:

Among the listed cities, Chennai continues to report the highest gold prices across all purity categories, while Mumbai, Kolkata, Bengaluru, and Hyderabad are witnessing similar rates.

Why Are Gold Prices Falling?

Gold prices are influenced by a combination of international and domestic factors. Recent volatility in global markets, movements in the US dollar, geopolitical developments, and changes in investor demand have all contributed to price fluctuations.

When investors shift away from safe-haven assets such as gold and move toward riskier investments, bullion prices often come under pressure. Currency movements and expectations surrounding interest rates can also affect gold demand globally.

Silver Prices Slip After Three Days of Stability

Silver prices also witnessed a decline on June 2 after remaining unchanged for three consecutive days. Prior to the stable phase, silver had registered a sharp increase of ₹5,000 per kilogram on May 29.

The latest correction has brought silver prices lower across major markets, although the decline remains relatively modest.

Latest Silver Prices in Major Metro Cities

In Delhi, silver became cheaper by ₹100 per kilogram and is currently trading at ₹2,79,900 per kg. Similar rates are being observed in Mumbai and Kolkata.

However, Chennai continues to record the highest silver prices among the four major metropolitan cities, with silver selling at ₹2,89,900 per kilogram—₹10,000 higher than the rates prevailing in Delhi, Mumbai, and Kolkata.

Should Buyers Purchase Gold Now?

The recent decline may provide an opportunity for consumers planning wedding purchases, festive shopping, or long-term investments. However, experts recommend tracking market trends and comparing rates before making large purchases.

Since precious metal prices can change daily due to global economic developments, investors should consider their financial goals, risk tolerance, and investment horizon before making any buying decisions.

With both gold and silver witnessing fresh corrections, buyers may find more attractive entry points in the market if the downward trend continues in the coming sessions.