Mumbai, May 4: Gold and silver prices continue to decline amid ongoing tensions between the United States and Iran, opening lower on Monday.
On the Multi Commodity Exchange (MCX), the June 5, 2026 contract for gold opened at ₹151,150, down ₹382 or 0.25% from the previous closing of ₹151,532. By 10 AM, gold had further weakened by ₹252 or 0.17%, trading at ₹151,100. During the trading session, gold reached a low of ₹150,860 and a high of ₹151,347.
The July 3, 2026 contract for silver opened at ₹250,699, down ₹238 or 0.094% from the last closing of ₹250,937. Currently, silver is trading at ₹250,363, reflecting a decline of ₹574 or 0.23%. Throughout the session, silver hit a low of ₹249,760 and a high of ₹251,231.
Internationally, both gold and silver prices are experiencing a downturn. On COMEX, gold is down 0.55% at $4,619 per ounce, while silver has decreased by 0.48% to $76.065 per ounce.
Tensions between the US and Iran remain high. President Donald Trump announced the launch of “Project Freedom,” aimed at rescuing stranded vessels in the Strait of Hormuz. The US has sought assistance from several countries for this initiative.
Trump stated on social media that the stranded ships and their crews are innocent, caught in difficult circumstances. He assured that the US would guide these vessels safely and warned Iran of severe consequences if it poses any threats. Despite the tensions, the announcement of “Project Freedom” has led to a surge in both global and Indian stock markets.
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My name is Himanshu Tiwari. 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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