Mumbai, May 7: Gold and silver opened on a positive note during Thursday’s trading session, witnessing price increases of up to 0.9 percent.
At 10:30 AM on the Multi Commodity Exchange (MCX), the June 5, 2025 gold contract rose by 0.24 percent, or ₹368, reaching ₹1,52,500. During the session, gold hit a low of ₹1,52,419 and a high of ₹1,52,887.
Meanwhile, the July 3, 2026 silver contract increased by 0.91 percent, or ₹2,293, trading at ₹2,55,558. Silver’s trading range included a low of ₹2,54,722 and a high of ₹2,57,055.
Internationally, gold and silver also experienced gains. On COMEX, gold rose by 0.21 percent to $4,703 per ounce, while silver strengthened by 1.12 percent to $78.17 per ounce.
The rise in gold and silver prices is attributed to a weakening dollar index, which currently remains below 98. This index reflects the dollar’s performance against six major currencies: the euro, Japanese yen, British pound, Canadian dollar, Swedish krona, and Swiss franc.
Additionally, global instability is boosting demand for gold and silver. Ongoing negotiations aim to resolve tensions between the U.S. and Iran. Reports indicate that the U.S. is urging Iran to halt its nuclear program and reopen the Strait of Hormuz.
According to the Iranian news agency ISNA, a spokesperson for Iran’s Foreign Ministry stated that Tehran would respond. However, U.S. President Donald Trump expressed confidence that Iran seeks a deal.
–
Leave a Comment