Gold Rate Today: Gold, Silver Prices Fall Amid Global Uncertainty

 

New Delhi : Gold and silver prices dropped significantly on Wednesday, with both metals falling by more than 1 per cent due to growing concerns about higher US interest rates.

On the Multi Commodity Exchange (MCX), gold futures (June 5) declined as much as 0.7 per cent or Rs 1,121 to hit an intraday low of Rs 1,57,959 as of 11:17 am. The yellow metal was trading at Rs 1,58,369, down 0.45 per cent or Rs 711. It touched an intraday high of Rs 1,60,378, rising 0.81 per cent or Rs 1,298, according to the exchange.

Meanwhile, silver futures (July 3) also witnessed selling pressure, slipping 1.21 per cent, or Rs 3,269, to Rs 2,66,850, its intraday low so far. The white metal was trading at Rs 2,68,970, down 0.43 per cent or Rs 1,149. It recorded an intraday high of Rs 2,69,605, lower by 0.19 per cent or Rs 514.

 

Earlier in the day, gold and silver opened on the MCX at Rs 1,58,974 and Rs 2,67,230, respectively. In the international market as well, precious metals were trading lower. COMEX gold declined 0.49 per cent to USD 4,462 per ounce, while COMEX silver slipped 0.17 per cent to USD 73.868 per ounce.

In the latest trading session, the price of 24 karat gold was recorded at Rs 1,51,530 in Delhi, up by Rs 450. Meanwhile, 22 karat gold is priced at Rs 1,39,407.60 per 10 grams, registering an increase of Rs 414.

 

Similarly, the price of 24 karat gold stands at Rs 1,51,370 per 10 grams in Hyderabad, registering a rise of Rs 440. Meanwhile, 22 karat gold is priced at Rs. 1,39,260.40 per 10 grams, with an increase of Rs. 404.80.

Bangalore too showed identical trends where the price of 24 karat gold stands at Rs 1,51,370, registering a rise of Rs 440. Meanwhile, 22 karat gold is priced at Rs. 1,39,260.40 per 10 grams, with an increase of Rs. 404.80.

In the country’s financial capital, Mumbai, the gold rates recorded a slight increase today. The price of 24 karat gold in the city is Rs 151,370.00, 10 grams showing an increase of Rs 440, and that of the 22K gold rate is Rs 1,39,260.40, showing an increase of Rs 404.80.

 

The gold prices in Kolkata also witnessed a modest rise. The 24K gold rate is Rs 1,51,370.00 per 10 grams, reflecting an increase of Rs.440, while 22 karat gold is priced at Rs 1,39,260.40 per 10 grams, with an increase of Rs 404.80.

Like Kolkata, in Kochi, the 24K gold rate is Rs 1,51,370.00 per 10 grams, with an increase of Rs.440, while 22 karat gold is priced at Rs 1,39,260.40 per 10 grams, with an increase of Rs 404.80.

However, Gold prices followed a downward trend in Chennai, with 24K gold priced at Rs 152,190.00 per 10 grams, reflecting a decrease of Rs 1,630. The 22K gold rate in Chennai is Rs. 1,40,014.80, marking a decrease of Rs. 1,499.60.

 

According to commodity market experts, gold prices remained under pressure as investors assessed rising inflation risks and the possibility of higher US interest rates. They noted that geopolitical tensions also continued to weigh on sentiment after US President Donald Trump warned that Washington could resume strikes on Iran within “two or three days” if Tehran failed to accept Washington’s peace terms.