Gold and silver price
Gold Rate Today: The wedding season is going on and the bride and groom’s family members are sweating. The budget of weddings has been badly disturbed due to the cost of gold. From the reach of the common man, gold has gone away. Gold domestic futures prices have set a new record today. Due to the rise in global prices, prices are continuously increasing in the domestic market. Gold is getting stronger as safe haven asset due to uncertainty about tariffs and increase in US-China trade war. Not only futures, gold prices are also on the seventh sky in the spot market.
Gold futures
There has been a tremendous rise in the price of gold on the MCX exchange. Gold, with a delivery of 5 June 2025 at MCX on Wednesday afternoon, gained 1.71 per cent or Rs 1600 to Rs 95,051 per 10 grams. Along with gold, silver prices have also seen a tremendous rise. Silver, a delivery of 5 May 2025 at MCX, rose by Rs 1.50 per cent or Rs 1425 to Rs 96,199 per kg on Wednesday afternoon.
Global price of gold and silver
The global prices of gold have seen a huge rise on Wednesday afternoon. The global price of gold on the commodity market i.e. Comex was seen trading at $ 2.45 per cent or $ 79.50 at $ 3,319.90 an ounce. At the same time, the gold spot was seen trading at $ 3,304 an ounce with a gain of 2.28 per cent or $ 73.72.
Why are the prices of gold growing?
Whenever there is lethargy in the global economy, geopolitical tensions arise, there is a crisis on global trade or a new problem in front of the world, gold starts to become strong as safe haven. In these circumstances, investors and central banks make great purchases of gold, which increases gold prices. At this time a new challenge has come up in the form of tariffs in front of global trade. There is an atmosphere of uncertainty over the tariff and the trade war between the US-China is increasing.
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