Today the prices of gold and silver fell. In early trade on MCX, gold fell by over ₹500, while silver prices fell by ₹2,291. US President Donald Trump said that negotiations with Iran are in their final stages. This has strengthened hopes for peace in the Middle East. Meanwhile, US Treasury bonds have declined while equity markets have gained. The impact of these developments is clearly visible on the prices of gold and silver.
On MCX, gold for delivery on June 5 had closed at ₹160,006 per 10 grams in the previous session, while today it opened at ₹159,900. In early trade today, it fell ₹515 to ₹159,491. Similarly, silver for delivery on July 3 had closed at ₹274,265 per kg in the previous session. Today, it opened at ₹272,275 and in early trade, fell ₹2,291 to ₹271,974.
bullion prices
Meanwhile, gold and silver prices have increased in the physical bullion market. According to *Good Return*, 24-carat gold is trading at ₹159,930, an increase of ₹490. 22-carat gold rose by ₹450 to ₹146,600, while 18-carat gold rose by ₹370 to ₹119,950. Silver prices also increased by ₹5,000 to ₹285,000 per kg.
Gold prices in major cities (this morning)
bullion market prices
According to the All India Bullion Association, silver prices in the national capital had fallen by ₹5,000 by the time the market closed in the previous session. It had fallen to ₹2,66,000 per kg (including all taxes). In the previous session, silver prices stood at ₹2,71,000 per kg. In contrast, 24-carat gold prices were up by ₹1,300. It had reached ₹1,64,900 per 10 grams (including all taxes). On Tuesday, it closed at ₹1,63,600 per 10 grams.
What are traders saying?
Bullion traders said fresh buying in the precious metal supported domestic gold prices despite rising US bond yields and a stronger dollar. However, silver prices fell for the second consecutive session. Analysts said silver prices remained volatile due to low industrial demand and persistent profit-booking, which had led to the sharp rise in prices recently.