## Domestic Gold Prices Increase
On Friday, domestic gold prices rose to Rs 92,660 as of 7:29 a.m. This information comes from the India Bullion Association.
In New Delhi, the rates were around Rs 92,330 per 10 grams. Mumbai’s prices were slightly higher at Rs 92,490. Kolkata saw an increase to Rs 92,370, while Bengaluru’s rate was Rs 92,570. Chennai recorded the highest price at Rs 92,760 in the country.
The futures prices for gold on the Multi Commodity Exchange experienced a 0.06 percent increase, reaching Rs 92,390 for the June 5 futures contract.
Gold prices surpassed the $3,000 per ounce milestone for the first time on March 14. Following this peak, the yellow metal has seen a decline from its record highs as bullish sentiment waned after a significant rally.
Despite this pullback, Bloomberg data shows that gold is up 25 percent this year, outperforming nearly all other major asset classes this month. This rise is attributed to an increased demand for safe-haven assets amid US President Donald Trump’s aggressive trade policies and growing concerns about the global economy.
## Gold Rates Today
On Friday, global spot gold prices fell by 0.06 percent to $3,237.21 an ounce.
Gold appears to be on track for its first consecutive weekly decline of the year, as strong tech earnings boosted risk appetite on Wall Street. Traders also adjusted their expectations regarding US interest rate cuts after better-than-expected factory data was released.
Bullion remained stable around $3,240 an ounce, with weekly losses exceeding 2 percent following data indicating a contraction in US manufacturing in April, although not as severe as anticipated.
## Silver Prices Today
As for silver, prices were reported at Rs 94,930 on Tuesday. This comes after the precious metal crossed the Rs 1 lakh mark several times over the last few months, according to the India Bullion Association. The surge in silver prices is largely driven by strong industrial demand, particularly due to its vital role in renewable energy technologies and electronics.
