Gold and Silver Price Update: Prior to Donald Trump's speech, investors were hopeful for a more conciliatory tone regarding ongoing conflicts. However, the aftermath of his address left many disappointed, causing a downturn in both the stock market and precious metals. Following Trump's remarks, crude oil prices began to rise. The recent upward trend in gold and silver prices faced a setback on Thursday morning, with both metals experiencing a significant drop. In the bullion market, gold fell by ₹3,230, settling at ₹150,240 per 10 grams. Similarly, silver saw a decline of ₹12,310, bringing its price down to ₹231,550.
Decline on MCX
The Multi Commodity Exchange (MCX) also reported a downturn in the stock market. On June 5, gold prices for the upcoming expiry dropped by approximately ₹3,200 per 10 grams, trending at ₹150,523. During trading hours, gold even touched a low of ₹150,145. As for silver on the MCX, prices fell by ₹12,800, currently trending at ₹230,653.
Previous Day's Gold and Silver Prices
The India Bullion and Jewellers Association (IBJA) releases daily gold and silver prices at noon and 5 PM. According to the rates published on IBJA's website on Wednesday evening, the price of 24-carat gold rose to ₹150,853 per 10 grams. Additionally, 23-carat gold was priced at ₹150,249, while 22-carat gold reached ₹138,181 per 10 grams. Silver also saw an increase on Wednesday, climbing to ₹239,836.