Gold Prices Today: Check Latest Rates in Mumbai, Bengaluru, Chennai, Hyderabad, New Delhi, and Kolkata
Gold Prices Fluctuate Amidst Trade Policy Uncertainties
Gold prices are expected to remain volatile due to ongoing trade policy uncertainties. US President Donald Trump’s recent statements on trade deals with India and tariffs on the European Union have contributed to market fluctuations.
Current Gold and Silver Prices
As of June 1, the MCX gold index was at ₹94,790/10 gm, while MCX silver prices were at ₹96,996/kg. Here are the current prices of gold and silver in various cities:
City-wise Gold and Silver Prices on June 1
- Mumbai: Gold bullion rates at ₹95,760/10 gm, MCX Gold rate at ₹95,891/10 gm, Silver bullion rate at ₹97,110/kg, and MCX Silver999 rate at ₹96,996/kg.
- New Delhi: Gold bullion rates at ₹95,600/10 gm, MCX Gold rate at ₹95,891/10 gm, Silver bullion rate at ₹96,950/kg, and MCX Silver999 rate at ₹96,996/kg.
- Kolkata: Gold bullion rates at ₹95,630/10 gm, MCX Gold rate at ₹95,891/10 gm, Silver bullion rate at ₹96,980/kg, and MCX Silver999 rate at ₹96,996/kg.
- Hyderabad: Gold bullion rates at ₹95,910/10 gm, MCX Gold rate at ₹95,891/10 gm, Silver bullion rate at ₹97,270/kg, and MCX Silver999 rate at ₹96,996/kg.
- Bengaluru and Chennai: Prices not provided, but can be checked on the Indian Bullion Association (IBA) website.
Gold as a Safe-Haven Asset
Despite market volatility, gold and silver are still considered safe-haven assets. Gold prices rose nearly 30% year-on-year, and as an investment, it has returned 15% CAGR since 2001.
Key Factors Affecting Gold Prices
- Trade policy uncertainties
- US-China trade deal
- US-EU tariffs
- Global economic conditions
Future Outlook
The future of gold prices remains uncertain, but experts predict that it will continue to be a valuable investment option. Retail customers should note that jewellers may add making charges, taxes, and GST to the bill, which could increase the final price.
