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Gold Silver Rate Today Live Updates: Gold and silver prices dropped sharply on Thursday due to the ongoing war and tension in West Asia, which has created strong fluctuations in the bullion market.
Prices had increased on Wednesday, but both metals saw a heavy fall on Thursday in both the physical and futures markets. Gold slipped below Rs 1.47 lakh per 10 grams, while silver fell below Rs 2.28 lakh per kilogram. During trading on MCX, gold fell by nearly Rs 5,000 and silver dropped by around Rs 19,000, showing high market volatility.
Latest Gold and Silver Prices
According to the India Bullion Jewellers Association (IBJA), gold prices fell significantly on Thursday. The price of 24-carat gold dropped by Rs 4,245 to Rs 1,46,608 per 10 grams, compared to Rs 1,50,853 earlier. Similarly, 22-carat gold fell to Rs 1,34,293 per 10 grams from Rs 1,38,181. The price of 18-carat gold also declined to Rs 1,09,956 per 10 grams. Silver prices also moved down, falling by Rs 12,023 to Rs 2,27,813 per kilogram from Rs 2,39,836.
IBJA Price Table
| Metal | Previous Price | New Price |
|---|---|---|
| 24 Carat Gold (10g) | Rs 1,50,853 | Rs 1,46,608 |
| 22 Carat Gold (10g) | Rs 1,38,181 | Rs 1,34,293 |
| 18 Carat Gold (10g) | Rs 1,13,140 | Rs 1,09,956 |
| Silver (1 kg) | Rs 2,39,836 | Rs 2,27,813 |
MCX Market Update
In the futures market, gold for 5 June delivery had closed at Rs 1,53,708 in the previous session and opened at Rs 1,52,490 on Thursday. During the day, it dropped to Rs 1,47,100 and was trading at Rs 1,49,655 late at night, showing a fall of Rs 4,053 or 2.64 percent. Silver for 5 May delivery had closed at Rs 2,43,501 per kilogram and opened at Rs 2,42,800. During trading, it slipped to Rs 2,24,500 and later traded at Rs 2,32,220, down by Rs 11,281 or 4.63 percent.
MCX Price Table
| Commodity | Previous Close | Opening | Lowest | Night Price |
|---|---|---|---|---|
| Gold (5 June) | Rs 1,53,708 | Rs 1,52,490 | Rs 1,47,100 | Rs 1,49,655 |
| Silver (5 May) | Rs 2,43,501 | Rs 2,42,800 | Rs 2,24,500 | Rs 2,32,220 |
Gold Price in Major Cities
Gold prices remain slightly different across major Indian cities, but overall the trend is similar. Chennai has the highest gold price, while Mumbai, Kolkata, and Bengaluru have similar rates. Delhi and nearby cities such as Noida, Gurugram, and Ghaziabad have almost the same gold prices.
1 Gram Gold Price in Cities
| City | 24K | 22K | 18K |
|---|---|---|---|
| Chennai | Rs 15,000 | Rs 13,750 | Rs 11,455 |
| Mumbai | Rs 14,897 | Rs 13,655 | Rs 11,173 |
| Delhi | Rs 14,912 | Rs 13,670 | Rs 11,188 |
| Kolkata | Rs 14,897 | Rs 13,655 | Rs 11,173 |
| Bengaluru | Rs 14,897 | Rs 13,655 | Rs 11,173 |
| Hyderabad | Rs 14,897 | Rs 13,655 | Rs 11,173 |
| Jaipur | Rs 14,912 | Rs 13,670 | Rs 11,188 |
| Lucknow | Rs 14,912 | Rs 13,670 | Rs 11,188 |
| Patna | Rs 14,902 | Rs 13,660 | Rs 11,178 |
Government Restricts Import of Gold and Silver Articles
The government has taken strict steps to stop the misuse of Free Trade Agreements (FTA) in the bullion sector. The Directorate General of Foreign Trade (DGFT) has issued a notification restricting the import of all gold, silver, and platinum-related articles with immediate effect. The new rule will apply even to earlier deals or payments, and no transitional relief will be given. The main aim of this decision is to prevent misuse of trade agreements and control irregular imports in the precious metals market.