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Gold and Silver Rates in India Today, June 3: In Mumbai, the price of 24-carat gold stands at Rs 1,56,220 per 10 grams, while 22k gold is available at Rs 1,43,220 per 10 grams.
Gold and silver prices today, June 3.
Gold and Silver Rates in India Today, June 3: Gold depreciated on Wednesday, as renewed hostilities in West Asia pushed oil prices higher and stalled US-Iran talks, while investors awaited upcoming US economic data. In Mumbai, the price of 24-carat gold stood at Rs 1,56,220 per 10 grams, while 22k gold was available at Rs 1,43,220 per 10 grams. These rates do not include GST and making charges.
On the MCX, gold fell by 0.14 per cent to Rs 1,59,127 per 10 grams in the opening trade on Wednesday, whereas silver dropped 0.43 per cent to trade at Rs 2,65,553 per kg.
What Is The Price Of 22kt, 24kt Gold Today In India Across Key Cities On June 3?
| City | 22K Gold (per 10gm) | 24K Gold (per 10gm) |
|---|---|---|
| Delhi | Rs 1,43,270 | Rs 1,56,370 |
| Jaipur | Rs 1,43,270 | Rs 1,56,370 |
| Ahmedabad | Rs 1,43,270 | Rs 1,56,270 |
| Pune | Rs 1,43,220 | Rs 1,56,220 |
| mumbai | Rs 1,43,220 | Rs 1,56,220 |
| Hyderabad | Rs 1,43,220 | Rs 1,56,220 |
| Chennai | Rs 1,43,220 | Rs 1,56,220 |
| Bengaluru | Rs 1,43,220 | Rs 1,56,220 |
| Kolkata | Rs 1,43,220 | Rs 1,56,220 |
In the international market, spot gold fell 0.3% to $4,471.38 per ounce by 0511 GMT, after rising more than 1% in the previous session. U.S. gold futures for August delivery slipped 0.5% to $4,499.30.
Gulf hostilities flared anew on Wednesday, with the U.S. military saying Iranian missile attacks on Bahrain, Kuwait and other regional targets were either thwarted or failed, as diplomacy between Washington and Tehran showed little progress.
U.S. Secretary of State Marco Rubio said on Tuesday that President Donald Trump’s negotiating team has not offered Iran sanctions relief in exchange for reopening the Strait of Hormuz and insisted that any sanctions relief was tied to Tehran giving up its nuclear programme.
Oil prices rose more than 1% on Wednesday, deepening concerns over inflation and interest rate hikes. Although gold is typically viewed as a hedge against inflation, it tends to lose its appeal as a non-yielding asset when in a high interest-rate environment.
Cleveland Federal Reserve President Beth Hammack said on Tuesday the US central bank may need to raise interest rates soon should already-high inflation pressures continue to mount. Investors are now awaiting the US nonfarm payroll data, due later in the day, and employment report due on Friday to gauge the Fed’s monetary policy path.
What Factors Affect Gold Prices In India?
International market rates, import duties, taxes, and fluctuations in exchange rates primarily influence gold prices in India. Together, these factors determine the daily gold rates across the country.
In India, gold is deeply cultural and financial. It is a preferred investment option and is key to celebrations, particularly weddings and festivals.
With constantly changing market conditions, investors and traders monitor fluctuations closely. Staying updated is crucial for effectively navigating dynamic trends.
About the Author
Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to personal finance, markets, economy and companies. Having over a decade of experience in financial journalis…Read More
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