Gold Prices Surge: Check Today’s Rates in Mumbai, Bengaluru, Chennai, Hyderabad, New Delhi, and Kolkata

Gold Prices Today: A Safe Haven Amidst Global Uncertainty

Gold prices have seen a significant surge in recent months, driven by uncertainty over the US-China tariffs deal, geopolitical tensions in Europe, and anticipation ahead of the US Fed rate decision. As of January, gold has given 25% returns, and year-on-year, this number stands at 40%. Moreover, it has also returned 15% CAGR since 2001, beating inflation by more than 2-4% since 1995.

Current Gold and Silver Prices in Major Cities

Here are the current gold and silver prices in Mumbai, Bengaluru, Chennai, Hyderabad, New Delhi, and Kolkata on June 5:

• Mumbai: Gold bullion rates at ₹98,150/10 gm, MCX gold rate at ₹97,310/10 gm, Silver bullion rate at ₹1,01,660/kg, and MCX Silver999 rate at ₹1,01,526/kg.
• Chennai: Gold bullion rates at ₹98,500/10 gm, MCX gold rate at ₹97,310/10 gm, Silver bullion rate at ₹1,01,980/kg, and MCX Silver999 rate at ₹1,01,526/kg.
• Kolkata: Gold bullion rates at ₹98,080/10 gm, MCX gold rate at ₹97,310/10 gm, Silver bullion rate at ₹1,01,540/kg, and MCX Silver999 rate at ₹1,01,526/kg.
• Hyderabad: Gold bullion rates at ₹98,370/10 gm, MCX gold rate at ₹97,310/10 gm, Silver bullion rate at ₹1,01,840/kg, and MCX Silver999 rate at ₹1,01,526/kg.
• Bengaluru: Gold bullion rates at ₹98,290/10 gm, MCX gold rate at ₹97,310/10 gm, Silver bullion rate at ₹1,01,760/kg, and MCX Silver999 rate at ₹1,01,526/kg.
• New Delhi: Gold bullion rates at ₹98,040/10 gm, MCX gold rate at ₹97,310/10 gm, Silver bullion rate at ₹1,01,500/kg, and MCX Silver999 rate at ₹1,01,526/kg.

Expert Advice on Gold Investment

Rishabh Nahar, Partner and Fund Manager at Qode Advisors, recommends maintaining a 5-10% allocation in gold as an effective hedge against inflation, negative real rates, and geopolitical uncertainty. He advises adding to positions on meaningful pullbacks, as even a modest allocation can help dampen the volatility of an equity-heavy portfolio.

Why Gold is a Safe Haven

Gold has consistently proven to be a safe haven asset, providing a hedge against inflation, currency fluctuations, and market volatility. With the current global economic uncertainty, investors are flocking to gold and silver, driving up prices. As of today, silver prices have crossed the ₹1 lakh/kg mark.

Conclusion and Future Outlook

As global economic uncertainty continues to prevail, gold and silver prices are likely to remain volatile. Investors are advised to keep a close eye on market trends and consider expert advice before making investment decisions. With its proven track record as a safe haven asset, gold is likely to remain an attractive investment option in the near future.