Mumbai, May 6: The weakness of the dollar index has led to a significant rise in gold and silver prices. On Wednesday, both precious metals opened strongly, showing an increase of approximately 2.70 percent in early trading.
The June 5, 2026 contract for gold on the Multi Commodity Exchange (MCX) opened at ₹1,52,000, up by ₹2,247 or 1.5 percent from the previous closing of ₹1,49,753. By 9:47 AM, gold had risen by ₹2,085 or 1.39 percent, reaching ₹1,51,838.
During the trading session, gold touched a high of ₹1,52,182 and a low of ₹1,51,653.
Meanwhile, the July 3, 2026 contract for silver opened at ₹2,49,316, reflecting a jump of ₹5,000 or 2.04 percent from the last closing of ₹2,44,316. As of the time of writing, silver was trading at ₹2,50,900, up by ₹6,584 or 2.69 percent.
Silver has seen a trading range with a low of ₹2,49,316 and a high of ₹2,52,000.
Internationally, both gold and silver are experiencing upward trends. As of the latest updates, gold on COMEX was up by 1.92 percent, priced at $4,656 per ounce, while silver rose by 3.45 percent, reaching $76.12 per ounce.
The surge in gold and silver prices is largely attributed to the weakening dollar index, which has dropped by 0.17 percent to 98.14. The dollar index measures the value of the U.S. dollar against six major currencies: the euro, Japanese yen, British pound, Canadian dollar, Swedish krona, and Swiss franc.
Typically, a weaker dollar index correlates with stronger prices for precious metals like gold and silver. The decline in the dollar index has also strengthened the Indian rupee, which is now trading at ₹95.07, appreciating by about 11 paise or 0.12 percent against the dollar.
–
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.
Leave a Comment