Mumbai, May 8: Gold and silver prices continue to rise due to global instability, with an increase of up to 0.81 percent observed on Friday.
On the Multi Commodity Exchange (MCX), the June 5, 2026 gold contract opened at ₹1,52,672, up by ₹411 from the previous closing of ₹1,52,261. By 9:43 AM, it had strengthened by ₹471 or 0.31 percent, reaching ₹1,52,732.
During the trading session, gold recorded a low of ₹1,52,672 and a high of ₹1,53,103. Meanwhile, the July 3, 2026 silver contract opened at ₹2,59,999, reflecting an increase of ₹1,445 from the last closing of ₹2,58,540. At the time of writing, silver was priced at ₹2,60,658, up by ₹2,118 or 0.82 percent, with a low of ₹2,59,999 and a high of ₹2,61,811.
International markets are also witnessing a surge in gold and silver prices. Gold on COMEX rose by 0.28 percent to $4,725 per ounce, while silver increased by 0.17 percent to $80.30 per ounce.
The rise in gold and silver prices is attributed to increasing global instability, particularly due to heightened tensions between the United States and Iran. This situation has spurred demand for gold and silver, traditionally viewed as safe-haven assets.
However, ongoing discussions between the two nations aim to establish peace, and there are hopes for a temporary agreement soon.
The escalating tensions between the U.S. and Iran have negatively impacted the Indian stock market, which opened lower. The Sensex fell by 212.58 points or 0.27 percent to 77,631.94, while the Nifty dropped by 93 points or 0.38 percent to 24,233.65.
My name is Bhupendra Singh Chundawat. I am an experienced content writer with several years of expertise in the field. Currently, I contribute to Daily Kiran, creating engaging and informative content across a variety of categories including technology, health, travel, education, and automobiles. My goal is to deliver accurate, insightful, and captivating information through my words to help readers stay informed and empowered.
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