- Geopolitical tensions increased safe-haven demand for gold.
- Gold prices rose, nearing resistance levels on MCX.
- Silver prices also extended gains, showing strong momentum.
Gold Silver Rate Today: Gold and silver prices moved higher on Friday as renewed geopolitical tensions between the US and Iran boosted safe-haven demand for precious metals.
On the Multi Commodity Exchange (MCX), gold futures for June 5 delivery opened at Rs 1,52,672 per 10 grams, up Rs 411 from the previous close of Rs 1,52,261. Around 12:20 pm, gold was trading Rs 592, or 0.38 per cent, higher at Rs 1,52,853 per 10 grams. During the session, the yellow metal touched an intraday high of Rs 1,53,103, gaining Rs 842 or 0.55 per cent.
Silver prices also extended gains. MCX silver futures for July 3 delivery opened at Rs 2,59,999 per kg compared with the previous close of Rs 2,58,540, marking an increase of Rs 1,459 or 0.56 per cent.
At around 12:20 pm, silver was trading Rs 3,126, or 1.21 per cent, higher at Rs 2,61,666 per kg. The white metal touched an intraday high of Rs 2,62,723, rising Rs 4,183 or 1.61 per cent during the session.
Commodity market analysts said MCX gold continued to display improving momentum after opening firmly above the Rs 1,52,000 mark. A sustained move beyond Rs 1,53,000 could further strengthen bullish sentiment and potentially push prices towards the Rs 1,55,000-Rs 1,56,000 range. Immediate support is seen between Rs 1,52,000 and Rs 1,51,600, while stronger buying interest is expected near Rs 1,50,000.
For silver, analysts noted that prices remained strong after opening with a gap-up above Rs 2,60,000. A decisive breakout above the Rs 2,64,000-Rs 2,66,000 resistance zone could trigger further gains towards Rs 2,72,000-Rs 2,75,000 levels. Support for silver is currently placed around Rs 2,56,000.
In international markets, COMEX gold was trading 0.28 per cent higher at $4,725 per ounce, while COMEX silver gained 0.17 per cent to $80.30 per ounce.
The rally in bullion prices followed renewed tensions in West Asia after Iran accused the US of violating the month-long ceasefire agreement. Washington, however, defended its actions as retaliatory following alleged attacks on American naval vessels in the Strait on Thursday.
Iran’s military claimed that US forces struck an Iranian oil tanker, another vessel and civilian locations in the Strait as well as on Iranian territory.
Meanwhile, US President Donald Trump stated that the ceasefire remained in place and that Washington was awaiting Tehran’s response to its latest peace proposal.
Crude oil prices also moved sharply higher amid the geopolitical uncertainty. Brent crude climbed 2.82 per cent to $102.89 per barrel, while US West Texas Intermediate (WTI) crude gained 4 per cent to trade at $98.64 per barrel.
Also Read : Share Markets In Red As US-Iran Tensions Escalate: Sensex Over 450 Points Down, Nifty Tests 24,200
Gold Rates Across Major Cities In India On May 8
Gold Prices in Delhi Today (Per 1 Gram)
24 Karat – 15,288
22 Karat- 14,010
18 Karat- 11,466
Gold Prices in Chennai Today (Per 1 Gram)
24 Karat – 15,384
22 Karat- 14,102
18 Karat- 11,772
Gold Prices in Bengaluru Today (Per 1 Gram)
24 Karat – 15,268
22 Karat- 13,995
18 Karat- 11,451
Gold Prices in Mumbai Today (Per 1 Gram)
24 Karat – 15,268
22 Karat- 13,995
18 Karat- 11,451
Gold Prices in Pune Today (Per 1 Gram)
24 Karat – 15,268
22 Karat- 13,995
18 Karat- 11,451
Gold Prices in Kolkata Today (Per 1 Gram)
24 Karat – 15,268
22 Karat- 13,995
18 Karat- 11,451
Gold Price Today in Major Indian Cities
| City | 24k Gold Per Gram | 22k Gold Per Gram | 18k Gold Per Gram |
| Gold Rate in Hyderabad | 15,268 | 13,995 | 11,451 |
| Gold Rate in Ahmedabad | 15,273 | 13,995 | 11,456 |
| Gold Rate in Indore | 15,273 | 13,995 | 11,456 |
| Gold Rate in Lucknow | 15,288 | 14,010 | 11,466 |
| Gold Rate in Coimbatore | 15,384 | 14,102 | 11,772 |
| Gold Rate in Bhubaneswar | 15,268 | 13,995 | 11,451 |
| Gold Rate in Mysore | 15,268 | 13,995 | 11,451 |
| Gold Rate in Kanpur | 15,288 | 14,010 | 11,466 |
| Gold Rate in Salem | 15,384 | 14,102 | 11,772 |
| Gold Rate in Visakhapatnam | 15,268 | 13,995 | 11,451 |
| Gold Rate in Vijayawada | 15,268 | 13,995 | 11,451 |
| Gold Rate in Patna | 15,278 | 14,000 | 11,461 |
To check Silver price in India today, click here.
Also Read : Too Much Money In ELSS, Insurance Or Tax-Savers? Time To Rebalance Your Investments
Silver Price Across Major Cities In India On May 8
Silver Price In Delhi Today
The current silver price in Delhi stands at Rs 275 per gram and Rs 275,000 per kg.
Silver Price In Chennai Today
The current silver price in Chennai stands at Rs 275 per gram and Rs 275,000 per kg.
Silver Price In Bengaluru Today
The current silver price in Bengaluru stands at Rs 275 per gram and Rs 275,000 per kg.
Silver Price In Mumbai Today
The current silver price in Mumbai stands at Rs 275 per gram and Rs 275,000 per kg.
Silver Price In Pune Today
The current silver price in Pune stands at Rs 275 per gram and Rs 275,000 per kg.
Silver Price In Kolkata Today
The current silver price in Kolkata stands at Rs 275 per gram and Rs 275,000 per kg.
Silver Price Today in Major Indian Cities
| City | Per Gram | Per KG |
| Silver Rate in Hyderabad | 275 | 275,000 |
| Silver Rate in Ahmedabad | 275 | 275,000 |
| Silver Rate in Indore | 255 | 255,000 |
| Silver Rate in Lucknow | 275 | 275,000 |
| Silver Rate in Coimbatore | 275 | 275,000 |
| Silver Rate in Bhubaneswar | 275 | 275,000 |
| Silver Rate in Mysore | 275 | 275,000 |
| Silver Rate in Kanpur | 275 | 275,000 |
| Silver Rate in Salem | 275 | 275,000 |
| Silver Rate in Visakhapatnam | 275 | 275,000 |
| Silver Rate in Vijayawada | 275 | 275,000 |
| Silver Rate in Patna | 275 | 275,000 |
To check Gold price in India today, click here.
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