Gold, Silver Rates Today: The bullion prices jumped a bit in the domestic futures market amid some buying momentum post a decline in the previous session.
Gold futures, June 5 expiry, rose around Rs 1,500 to an early high of Rs 1,51,527 per 10 grams as compared to last day’s closing of Rs 1,50,027 on Multi Commodity Exchange (MCX).
Similarly, Silver futures, July 3 expiry, escalated Rs 1,200 to a high of Rs 2,43,999 per kilogram against the previous session’s closing of Rs 2,42,763 on MCX.
At the time of writing, MCX Silver was trading at Rs 2,43,838, up Rs 1,075 or 44 per cent. MCX Gold was quoted at Rs 1,50,163, up Rs 136 or 0.09 per cent.
Gold Rate in the International Futures Market
In contrast to the domestic futures market, the gold and silver rates fell in the international futures market amid higher crude prices.
At the time of writing, COMEX Gold was trading at $4,685, down $8.70 or 0.19 per cent. COMEX Silver was quoted at $74.445, down $0.5 or o.77 per cent.
Meanwhile, Brent Crude, the global oil benchmark, were trading at a level of $111 per barrel.
“COMEX Gold is currently hovering within the $4,550-$4,600 support level. The overall structure reflects underlying weakness, with persistent geopolitical tensions in the Middle East offering only limited safe-haven support and providing a weak cushion to prices. A sustained move above $4,700 could extend the rally toward $4,750-$4,800, with further upside potential toward $4,850-$4,900, where stronger supply pressure is likely to emerge,” said Ponmudi R, CEO Of Enrich Money.
22k, 24k Gold Rates In India
The gold rates for different purity levels increased a bit in the domestic retail market as well. The 24 karat gold rate today in India is Rs 1,52,150 per 10 grams, while 22 karat gold rate today is Rs 1,39,471.
The 20 karat gold rate today is Rs 1,26,792 per 10 grams, while 18 karat gold rate is Rs 1,14,113 per 10 grams.