Gold and Silver Prices Decline Amid Global Tensions and Anticipated US Employment Data
Gold and silver price today, June 5: Check rates of 24K, 22K gold in Delhi, Mumbai, Kolkata other cities

Image: Moneycontrol
On June 5, gold and silver prices fell as international tensions related to the Iran war kept oil prices high. Spot gold is down to $4,464.80 per ounce, while silver is at $72.63 per ounce. Domestic prices also reflect this trend, with gold futures slightly lower at ₹1,59,502 per 10 grams.
- 01International spot gold decreased by 0.89% to $4,464.80 per ounce.
- 02Silver prices fell by 1.81% to $72.63 per ounce.
- 03MCX spot gold closed at ₹1,55,392 per 10 grams on Thursday.
- 04Gold futures for August are at ₹1,59,502 per 10 grams, down 0.03%.
- 05Market focus is on upcoming US employment data, which may influence precious metal prices.
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On June 5, gold and silver prices experienced a decline influenced by ongoing geopolitical tensions, particularly related to the Iran war, which has kept oil prices elevated. The international spot gold price fell by 0.89%, bringing it down to $4,464.80 per ounce, while silver saw a more significant decrease of 1.81%, settling at $72.63 per ounce. In the domestic market, the Multi Commodity Exchange (MCX) reported that the spot price of gold closed at ₹1,55,392 per 10 grams. Additionally, gold futures for the August contract on the MCX ended the session at ₹1,59,502, reflecting a slight decline of 0.03%. Silver futures for July also dipped, closing at ₹2,64,680 per kilogram, down 0.04%. Market analysts are closely monitoring key US employment data, including Non-Farm Payrolls and unemployment figures, which are expected to influence the dollar and precious metals. According to Jateen Trivedi, VP Research Analyst at LKP Securities, gold is currently finding support near ₹1,58,500, while ₹1,60,500 is identified as a critical resistance level.
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The decline in gold and silver prices could affect investment decisions and consumer purchases in India, particularly in the jewelry sector.
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