Gold and Silver price: Amid rising fears of a trade war, gold rose to the level of Rs 1 lakh in the past few days. It declined after Trump gave relief. But once again it has reached the figure of Rs 1 lakh.
Gold Rates Today In India, June 5: A day earlier, the brokerage house had predicted a fall in the price of gold by up to Rs 15,000 per 10 grams. But a day after this, the price of gold saw a rise on Thursday. It is believed that investors are worried due to economic uncertainty and weak economic data of America. These figures have seen a decline in the service sector. This includes the lowest growth of private jobs since March 2023. After all this, the expectation has increased that this year the US Central Bank (Fed) will reduce the interest rate at least twice.
Decline on MCX
The rate of 24 carat gold in Mumbai rose to Rs 99,600 per 10 grams on Thursday. Apart from this, the rate of 22 carat gold remained at Rs 91,300 per 10 grams. On the other hand, the price of silver in Mumbai increased by Rs 2000 to Rs 1,04,000 per kg. After imposing 3% GST on the price of gold, the rate of gold in Mumbai became Rs 1,02,588 per 10 grams. During the morning trade on the Multi Commodity Exchange (MCX), gold was trending at Rs 98,255 per 10 grams with a decline of 0.33 percent. However, silver saw a rise of 0.18 percent and was trading at Rs 1,01,477 per kg.
All eyes will be on the employment report
24 carat gold is known for its highest purity. Apart from this, 22 carat gold is a favorite among both jewelry lovers and investors due to its strength and always beautiful appearance. According to goodreturns.in, the price of silver in Mumbai increased by Rs 2000 to Rs 1,04,000 per kg on Thursday. Fed (US central bank) officials are cautious about reducing the interest rate. Especially due to the ongoing trade tension between the new tariff (import duty) and the obstacle in the US-China trade talks. Now investors will be eyeing the employment report coming on Friday.
What is the price of gold in your city?
The price of gold varies according to the city. On Thursday, June 5, the rate of 24 carat gold in Delhi and Jaipur was Rs 99750 per 10 grams, in Ahmedabad and Patna it was Rs 99650, in Mumbai, Hyderabad, Chennai, Bengaluru and Kolkata the price rose to Rs 99,600 per 10 grams.
What are the rates on https://ibjarates.com?
According to the price released by the Indian Bullion Jewellery Association (https://ibjarates.com) on Thursday, the rate of 24 carat gold rose to Rs 97291 per 10 grams. Apart from this, 22 carat gold reached Rs 96901 per 10 grams, 20 carat gold reached Rs 89119 per 10 grams and 18 carat gold reached Rs 72968 per 10 grams. Apart from this, the rate of silver also rose today to Rs 101298 per 10 grams.
The price of gold may fall
A day earlier, the brokerage house Quant Mutual Fund had said in its report that after a strong rise in the last few months, the price of gold may fall by 12-15% in the next two months. Quant Mutual Fund recently said in the ‘June 2025 Factsheet’ that ‘gold has reached its record level and is likely to fall by 12-15% against the dollar in the next two months. The brokerage house said that our medium and long term outlook is equally positive. A good part of your portfolio should be invested in precious metals (like gold).
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