Gold and silver prices in India continued to witness fluctuations amid global uncertainty and geopolitical tensions, with the impact of rising tensions in the Middle East increasingly reflected in bullion markets.
Volatility persisted in the bullion market due to increased demand for gold as a safe-haven investment and international market signals. Recent developments in the Middle East have had a direct impact on global commodity markets, with effects now visible in domestic markets.
On the Multi Commodity Exchange (MCX), both gold and silver recorded declines on Tuesday. Gold futures for June 5 expiry traded at around ₹1,58,110, down by approximately ₹971. Silver futures for July expiry also declined sharply, falling by around ₹4,700 to approximately ₹2,72,008.
According to analysts, gold and silver prices in the coming days will depend primarily on global factors including the US dollar index, the direction of interest rates, crude oil prices and tensions in the Middle East.
Gold rates in India were recorded as follows:
Delhi: 24K – ₹15,903 | 22K – ₹14,579 | 18K – ₹11,931
Mumbai: 24K – ₹15,888 | 22K – ₹14,564 | 18K – ₹11,916
Chennai: 24K – ₹16,068 | 22K – ₹14,729 | 18K – ₹12,359
Kolkata: 24K – ₹15,888 | 22K – ₹14,564 | 18K – ₹11,916
Bengaluru: 24K – ₹15,888 | 22K – ₹14,564 | 18K – ₹11,916
Hyderabad: 24K – ₹15,888 | 22K – ₹14,564 | 18K – ₹11,916
Ahmedabad: 24K – ₹15,893 | 22K – ₹14,569 | 18K – ₹11,921
Experts said domestic gold prices are currently trading within a limited range, although sharp fluctuations remain possible due to global developments.
Silver prices in India were recorded at approximately ₹284.90 per gram and ₹2,84,900 per kilogram. Silver rates in major cities were as follows:
Delhi: ₹2,84,900 per kilogram
Mumbai: ₹2,84,900 per kilogram
Chennai: ₹2,94,900 per kilogram
Hyderabad: ₹2,94,900 per kilogram
Kolkata: ₹2,84,900 per kilogram
Gold and silver prices depend on multiple global and domestic factors. When uncertainty rises at the global level, investors allocate funds to gold as a safe-haven investment, contributing to price increases.
