Gold Silver Price: Gold and silver prices saw sharp fluctuations in domestic futures trade on Friday. Silver plunged by nearly Rs 7,000 in early trading, while gold also slipped by around Rs 1,000 before both precious metals recovered partially later in the session.

Market experts said rising tensions in the Middle East have pushed crude oil prices higher, raising concerns over inflation and reducing expectations of interest rate cuts. The development has impacted bullion markets globally, leading to volatility in gold and silver prices.

MCX Gold and Silver Update

On the Multi Commodity Exchange (MCX), silver for July delivery had settled at Rs 2,71,886 per kilogram in the previous session. It opened at Rs 2,67,400 on Friday and dropped by Rs 6,937 to touch an intraday low of Rs 2,64,949 per kilogram during early trade. However, by 10:10 am, silver recovered and was trading higher by Rs 153 at Rs 2,72,039 per kilogram.

Similarly, gold for June 5 delivery declined by nearly Rs 1,000 in early trade to Rs 1,57,547 per 10 grams. Later, it regained some ground and was trading marginally higher by Rs 19 at Rs 1,58,566 per 10 grams around 10:15 am.

Bullion Market Trends

In the physical bullion market, gold prices continued to remain under pressure, while silver witnessed strong gains.

• 24-carat gold fell by Rs 710 to Rs 1,56,220 per 10 grams.
• 22-carat gold declined by Rs 650 to Rs 1,43,200 per 10 grams.
• 18-carat gold slipped by Rs 530 to Rs 1,17,170 per 10 grams.
• Silver surged by Rs 10,000 to reach Rs 2,90,000 per kilogram.

Gold Rates in Major Cities (10:00 am)

Experts’ View

According to the All India Sarafa Association, silver prices in the national capital had crashed by Rs 21,600, or nearly 7.3 percent, in the previous session to settle at Rs 2,75,000 per kilogram, including taxes.

Likewise, 24-carat gold prices had fallen by Rs 3,200, or about 1.93 percent, to Rs 1,62,000 per 10 grams. On Thursday, gold had closed at Rs 1,66,000 per 10 grams.