Gold and Silver Rates, 5 June: Precious metal prices saw pretty sharp volatility on Friday, while gold and silver futures on the Multi Commodity Exchange (MCX) were trading lower, ahead of the Reserve Bank of India’s monetary policy announcement. Investors were careful given the nagging uncertainty around interest rate expectations, global economic cues and profit-booking in bullion markets.
MCX Gold and Silver Prices Today
MCX gold dropped nearly 1% to trade around Rs 1,58,300 per 10 grams, while MCX silver nosedived by nearly 1.5% to trade around Rs 2.60 lakh per 1Kg. Other metals like copper also slipped by 1%. On the global front, spot gold slipped by nearly 1% to trade below $4,450 per ounce and spot silver crashed nearly 2% to trade below $73 per ounce.
Gold and Silver Rates Today, 3 June: Latest MCX Prices, Global Bullion Update and City-Wise Rates
Gold and Silver Rates, 5 June
24-Carat Gold Rate (Per 10 Grams)
- Delhi: ₹1,57,000 – ₹1,58,000
- Mumbai: ₹1,56,800 – ₹1,57,800
- Chennai: ₹1,57,300 – ₹1,58,300
- Bengaluru: ₹1,56,900 – ₹1,57,900
- Hyderabad: ₹1,56,850 – ₹1,57,850
- Kolkata: ₹1,56,950 – ₹1,57,950
22-Carat Gold Rate Today
- Delhi: ₹1,44,000
- Mumbai: ₹1,43,500
- Chennai: ₹1,44,200
- Bengaluru: ₹1,43,700
- Hyderabad: ₹1,43,600
- Kolkata: ₹1,43,700
Silver Price Today
Silver prices stayed under pressure across most big markets. In many cities physical silver rates were sitting roughly around ₹2.70 lakh to ₹2.80 lakh per kg, while MCX silver futures slid close to 2%.
RBI Policy in Focus
The Reserve Bank of India announcement is still the main trigger for bullion traders. People will be watching how RBI speaks about inflation, the pace of economic growth, liquidity conditions and also what it hints about future interest-rate guidance.
“We expect the RBI to maintain status quo on the repo rate in the upcoming MPC meeting. While recent developments such as higher crude prices, fuel price revisions, rupee weakness and geopolitical uncertainties have added to inflationary concerns, much of the current pressure appears to be supply-driven. In such an environment, the RBI is likely to remain watchful rather than react with immediate policy tightening. From a market standpoint, a pause is largely priced in and should help maintain stability across equity and fixed-income markets. More than the rate decision itself, investors will closely track the RBI’s commentary on inflation, liquidity, currency movements and global risks, as these factors will shape expectations around the future rate trajectory”, Gaurav Garg, Research Analyst at Lemonn Markets Desk mentioned.
If there’s any unexpected shift in the policy stance that could easily spark more volatility in gold and silver prices during the session.
