Gold and silver prices in India saw minimal fluctuations on June 1, 2026, maintaining a largely steady trend across major metropolitan areas. Despite global market reactions to geopolitical tensions in West Asia and mixed signals from the US dollar, these precious metals, traditionally viewed as safe-haven assets, did not experience sharp upward movements. This indicates cautious investor sentiment coupled with stable domestic demand.
As per the latest retail market data, 24-carat gold is trading at approximately ₹15,703 per gram, while 22-carat gold is priced near ₹14,409 per gram. Silver, on the other hand, is hovering around ₹2,79,900 per kilogram in the domestic bullion market. These rates can vary slightly from city to city due to local taxes, transportation costs, and jewellers’ margins.
Current Retail Gold Rates Across Major Cities
Here’s a snapshot of 24K and 22K gold prices in key Indian cities:
- Delhi: 24K at ₹15,718 per gram, 22K at ₹14,409 per gram
- Mumbai: 24K at ₹15,703 per gram, 22K at ₹14,394 per gram
- Chennai: 24K at ₹15,959 per gram, 22K at ₹14,629 per gram
- Kolkata: 24K at ₹15,703 per gram, 22K at ₹14,394 per gram
Several factors influence gold prices in India, including international bullion rates, the movement of the rupee against the US dollar, prevailing import duties, and seasonal jewellery demand. With the wedding and festive seasons approaching in various regions, retail demand is expected to remain stable, helping prevent any significant price corrections.
Silver Prices Remain Elevated
Silver continues to trade at elevated levels compared to its long-term averages, primarily supported 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.
Here are the silver prices per kilogram in major cities:
- Delhi: ₹2,79,900 per kg
- Mumbai: ₹2,79,900 per kg
- Chennai: ₹2,89,900 per kg
- Kolkata: ₹2,79,900 per kg
Futures Market Overview
On the Multi Commodity Exchange (MCX), gold futures for June settled slightly higher at ₹156,810 per 10 grams as of May 31, 2026. Conversely, silver futures for July faced narrow-based selling pressure, with MCX prices declining by nearly 0.18% to ₹2,67,790 per kilogram.
Recent futures market data indicates mild pressure on bullion, with silver experiencing a sharper correction compared to gold. Analysts suggest that traders remain cautious, closely monitoring global macroeconomic cues, currency fluctuations, and geopolitical developments, which are anticipated to dictate the future trend of precious metals.