Gold rate at the moment: Gold prices off record highs; Gold June futures start higher on May 5, 2025

Gold prices have declined from peak ranges, dropping by Rs 2,754/10 grams on MCX. (AI picture)

Gold rate at the moment: At MCX, Gold June futures contracts opened at Rs 93,271/10 grams, displaying a rise of 0.68% or Rs 634. Meanwhile, silver July futures contracts started buying and selling regular at Rs 94,145/kg, reflecting a modest rise of Rs 81 or 0.09%.
Gold prices have declined from peak ranges, dropping by Rs 2,754/10 grams on MCX in the course of the earlier week. Both gold and silver values decreased resulting from optimism surrounding US-China commerce discussions and strengthening of the greenback index.
The earlier buying and selling day witnessed blended closings for gold and silver in home and worldwide markets. Gold June futures finalised at Rs 92,637 per 10 grams, gaining 0.32%, while silver July futures concluded at Rs 94,064 per kilogram, declining by 0.70%.
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The earlier week noticed important value fluctuations in gold and silver, with profit-booking occurring amidst greenback index restoration and optimistic developments in US-China commerce talks. Both treasured metals reached 3-week lows following the U.S. President’s announcement relating to commerce negotiations with India, Japan, South Korea and China.
The greenback index bounced again from several-month lows and approached the 100 mark following Trump’s remarks, inflicting a decline in treasured metals prices. Currently, the US Dollar Index (DXY) stands at 99.73, displaying a lower of 0.30 or 0.30%.
“The U.S. economic data released last week were mixed as non-farm employment surged higher and also triggered profit taking in both precious metals. However, contraction in the first quarter U.S. GDP and higher jobless claims supported gold prices at lower levels,” mentioned Manoj Kumar Jain of Prithvifinmart Commodity Research based on an ET report.
According to Jain’s evaluation, value fluctuations in gold and silver are anticipated this week resulting from greenback index variations and the upcoming U.S. Fed financial coverage conferences. He means that gold may attain a help degree of $3,180 per troy ounce, whereas silver would possibly contact $31.40 per troy ounce.