Gold and Silver Prices Remain Steady in Major Indian Cities
Global Precious Metal Prices Decline Amid Escalation of Iran War
Global precious metal prices continued to trade lower in early June 1 trade, driven by the escalation of the Iran war, which has kept oil prices elevated. The international spot gold price traded 0.79 percent lower to $4,556.70 per ounce, while silver inched 0.14 percent higher to $75.98 per ounce over the last 24 hours in early Comex trade.
In the domestic market, the gold futures for the June contract on the Multi Commodity Exchange (MCX) closed the Friday session 0.59 percent down to Rs 1,56,000 per 10 grams, and silver futures for the July contract edged 0.94 percent lower to Rs 2,67,000 per kilogram.
Markets are closely watching developments around the proposed US–Iran deal and awaiting further comments from US President Trump, which could provide the next major trigger for bullion. The current market sentiment suggests that gold prices may remain volatile in the near term.
Read also: Gold and Silver Prices Decline Amid Strengthening Dollar and Inflation Concerns
Gold Price Movement
The price of 10 grams of gold varied among different purities. Here's a comparison of the prices of 24-karat, 22-karat, and 18-karat gold:
| Purity | Price (Rs) |
|---|---|
| 24-karat | Rs 1,56,000 |
| 22-karat | Rs 1,53,000 |
| 18-karat | Rs 1,49,000 |
| City | Price (Rs) |
|---|---|
| Mumbai | Rs 1,56,000 |
| Delhi | Rs 1,55,500 |
| Kolkata | Rs 1,54,500 |
| Chennai | Rs 1,53,500 |
Read also: Gold and Silver Prices in India: A Review of Current Rates Across Major Cities
Note: Prices may vary depending on the city and purity of gold.
More in General
Gold and Silver Prices Decline Amid Strengthening Dollar and Inflation Concerns
Gold and Silver Prices in India: A Review of Current Rates Across Major Cities
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