2 days ago
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Gold prices retreated by ₹2,500 to ₹1.60 lakh per 10 grams successful the nationalist superior connected Monday (June 1, 2026), tracking losses successful planetary markets arsenic renewed subject exchanges betwixt the U.S. and Iran spiked crude lipid rates.
According to the All India Sarafa Association, the yellowish metallic of 99.9% purity depreciated by ₹2,500, 1.53%, to ₹1,60,400 per 10 grams (inclusive of each taxes) from Friday's (May 29, 2026) closing level of per 10 grams.
Silver prices besides weakened sharply, falling ₹5,000, oregon astir 2%, to ₹2,69,700 per kilogram (inclusive of each taxes). The achromatic metallic had settled astatine ₹2,74,700 per kg successful the erstwhile session.
"Gold started the week connected a weaker enactment arsenic renewed tensions betwixt the U.S. and Iran implicit the play boosted crude lipid prices and strengthened the dollar," Saumil Gandhi, elder expert - commodities astatine HDFC securities, said.
He added that the emergence successful U.S. Treasury enslaved yields besides weighed connected precious metals, limiting capitalist appetite for assets specified arsenic golden and silver.
In the planetary markets, spot golden fell astir 1% to $4,504.97 per ounce. However, metallic roseate 1% to $75.93 per ounce.
Spot golden turned volatile, quoting $4,500 per ounce connected Monday (June 1, 2026), and metallic edged up towards $76 per ounce, arsenic precious metals opened the week connected a cautious footing amid lingering uncertainty implicit the U.S.-Iran ceasefire framework, Kaynat Chainwala, AVP Commodity Research, Kotak Securities, said.
This week, marketplace participants volition intimately ticker the U.S. jobs data, comments from Federal Reserve officials and Treasury Secretary Scott Bessent, Mr. Chainwala added.
Traders volition besides way further developments successful West Asia for caller cues connected bullion prices, she noted.
