Gold Silver Rate Today (May 4): Prices Take A Hit, Check Current Rates Across Major Cities

Gold Silver Rate Today: Gold and silver prices edged lower on Monday, extending recent weakness as signs of easing tensions between the US and Iran reduced safe-haven demand for precious metals.

On the Multi Commodity Exchange (MCX), gold futures for June 5 opened at Rs 1,51,150, down Rs 382 from the previous close of Rs 1,51,532. By around 11.30 am, the yellow metal was trading at Rs 1,50,623, a decline of Rs 729 or 0.48 per cent. During the session, gold touched a low of Rs 1,50,400 and a high of Rs 1,51,347.

Silver prices also remained under pressure. MCX July 3 contracts opened slightly lower at Rs 2,50,699 compared to the previous close of Rs 2,50,937. The metal slipped further to Rs 2,49,600, down Rs 1,337 or 0.53 per cent. Intraday, silver hit a low of Rs 2,49,600 and a high of Rs 2,51,231.

In global markets, the trend remained weak. COMEX gold was down 0.55 per cent at $4,619 per ounce, while silver declined 0.48 per cent to $76.065 per ounce.

Market experts said bullion extended last week’s decline, hovering near one-month lows, as a stronger US dollar and elevated crude oil prices weighed on sentiment. The easing of US-Iran tensions has also reduced the appeal of safe-haven assets.

US President Donald Trump announced plans to assist vessels stranded in the Strait of Hormuz under ‘Project Freedom’, aimed at ensuring safe passage. However, he warned of a strong response if Iran posed any threat.

Meanwhile, crude oil prices also softened, with Brent crude falling 0.61 per cent to $107.51 per barrel and WTI declining 2.77 per cent to $99.11 per barrel.

Analysts expect bullion to remain volatile in the near term, with global cues, currency movements and geopolitical developments continuing to drive price action.

Also Read : Oil Prices Fall Nearly 3% As Hormuz Relief Hopes Emerge, Stay Above $100

Gold Rates Across Major Cities In India On May 4