Precious metal rates for both gold and silver experienced a marginal dip across major Indian metropolitan areas on June 5, 2026. This slight correction in prices is largely attributed to ongoing geopolitical tensions in West Asia and fluctuating signals emanating from the US dollar, contributing to a cautious investment climate.
Current Retail Gold & Silver Rates
As of June 5, 2026, the retail market saw 24-carat gold trading at an average of around ₹15,610 per gram, while 22-carat gold was priced at approximately ₹14,309 per gram. Silver prices hovered near ₹2,79,900 per kilogram in the domestic bullion market. It's important to note that local taxes, transportation costs, and jewellers’ margins can cause minor variations in prices across different cities.
City-Wise Gold Prices (per gram)
- Delhi: 24K Gold at ₹15,625, 22K Gold at ₹14,324
- Mumbai: 24K Gold at ₹15,610, 22K Gold at ₹14,309
- Kolkata: 24K Gold at ₹15,610, 22K Gold at ₹14,309
- Chennai: 24K Gold at ₹15,796, 22K Gold at ₹14,479
City-Wise Silver Prices (per kilogram)
- Delhi: ₹2,79,900
- Mumbai: ₹2,79,900
- Kolkata: ₹2,79,900
- Chennai: ₹2,84,900
Factors Influencing Precious Metal Prices
Gold prices in India are primarily influenced by international bullion rates, the movement of the rupee against the dollar, prevailing import duties, and seasonal jewellery demand. Despite the slight fall, demand remains stable due to the approaching wedding and festive season in various regions, preventing sharp price corrections.
Silver's Market Dynamics
Silver continues to trade at elevated levels compared to its long-term averages, bolstered by robust industrial demand and ongoing investment buying. Unlike gold, silver prices exhibit greater sensitivity to global manufacturing trends, making the metal more volatile during periods of economic uncertainty.
Multi Commodity Exchange (MCX) Performance
On the Multi Commodity Exchange, gold futures for July delivery settled slightly lower at ₹1,59,630 per 10 grams on Wednesday, June 4, reflecting a 0.76% decrease. Silver futures for August delivery also saw selling pressure, falling nearly 1.34% to ₹2,65,590 per kilogram. This mild pressure on bullion, particularly the sharper correction in silver, indicates that traders are exercising caution ahead of upcoming global macroeconomic cues, currency fluctuations, and geopolitical developments.