Gold, silver prices in your city, June 3: Donald Trump’s tariffs standoffs with China and the European Union (EU), geopolitical uncertainity due to the Russia-Ukraine war, and anticipation ahead of the US Federal Reserve rate decision are driving gold prices to recent highs.
Silver has crossed the ₹1 lakh/kg mark as investors flock to safe haven commodities to secure their portfolios amid a volatile market. Contracts for gold futures dated June 5 jumped 1.7 per cent or ₹1,630/10 gm, while gold MCX prices hit an intraday high of ₹97,505/10 gm during the June 2 (Monday) commodity market session, up around ₹2,000/10 gms. US-based Comex gold was up 1.74 per cent at $3,373 on June 2 as of 6.42 am (EDT).
Jateen Trivedi, VP Research Analyst of Commodity and Currency at LKP Securities, pegged the key levels for MCX gold prices to have support at ₹94,000, with the resistance expected between ₹98,500 to ₹99,000 levels.
Overall, since January, gold has given 25 per cent returns, year-on-year (YoY), this number is 40 per cent. Further, it has also returned 15 per cent CAGR since 2001, and beaten inflation by more than 2-4 per cent since 1995, data shows.
Data from Motilal Oswal Private Wealth showed that gold investment demand in the March quarter jumped 552 tonnes or 170 per cent YoY, reinforcing gold’s status as a resilient hedge.
Gold Prices Today: Check Gold Rates in India — June 3
Prices were in the green today at 7.20 am on June 3. The MCX gold index was at ₹96,781/10 gm, the official website showed. Meanwhile, MCX silver prices were at ₹1,00,098/kg, it showed.
Further, 24-carat gold was priced at ₹98,010/10 gm, according to data on the Indian Bullion Association (IBA) at 7.20 am on June 3. Further, 22-carat gold was priced at ₹89,843/10 gms. And, silver prices today are at ₹1,01,300/kg (Silver 999 Fine), as per the IBA website.
So, check here for prices of gold and silver in your city today on June 3 — Delhi, Kolkata, Mumbai, Hyderabad, Bengaluru, and Chennai. Notably, for retail customers, jewellers may add making charges, taxes and GST to the bill, which could hike the final price for you.
Gold and Silver Prices in Chennai — June 3
Gold and Silver Prices in Bengaluru — June 3
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
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