Gold and Silver Market Update

Gold June futures at MCX have seen a correction of Rs 4,000/10 grams (4%), opening at Rs 95,316/10 grams on Tuesday, following last week's record high of Rs 99,358/10 grams. Silver May futures experienced a modest decline, beginning at Rs 96,255/kg, representing a decrease of Rs 209 or 0.22%.

Gold price today: The decline in gold prices corresponds to a strengthening dollar, as there exists an inverse relationship between gold prices and dollar values.

Impact of Global Events on Gold Prices

This shift occurred after US President Donald Trump altered his position on reciprocal tariffs, delaying their implementation until July, whilst adopting a less confrontational stance towards China and confirming his intention to retain Federal Reserve Chair Jerome Powell. The US Dollar Index, DXY, demonstrated positive movement, reaching 99.13, an increase of 0.12 or 0.12%.

Retail Activity and Future Outlook

In anticipation of Akshaya Tritiya 2025, retail activity remains robust, with significant customer presence, especially in southern India where the festival holds cultural significance. Elevated prices have influenced purchasing patterns, with customers preferring lighter jewellery and coins over heavy pieces. Retailers are adapting by introducing new collections, reducing making charges and promoting silver alternatives.

"We look forward to a 10-15% spike in jewellery sales this season, supported by robust buying sentiments and price dynamics," stated Colin Shah, MD, Kama Jewelry.

Physical Market Gold Rates

Delhi Gold Prices
Standard gold (22 carat): Rs 57,672/8 grams
Pure gold (24 carat): Rs 61,496/8 grams

Mumbai Gold Prices
Standard gold (22 carat): Rs 57,176/8 grams
Pure gold (24 carat): Rs 60,544/8 grams

Chennai Gold Prices
Standard gold (22 carat): Rs 56,736/8 grams
Pure gold (24 carat): Rs 60,488/8 grams

Hyderabad Gold Prices
Standard gold (22 carat): Rs 57,144/8 grams
Pure gold (24 carat): Rs 60,920/8 grams