Mumbai, May 29: Gold and silver began trading with slight weakness on Friday amid global instability. However, both precious metals are trading within a limited range.
On the Multi Commodity Exchange (MCX), the gold contract for August 5, 2026, opened at ₹160,454, down ₹449 from the previous closing of ₹160,903. By 10:15 AM, it showed a minor decline of 0.17%, trading at ₹160,622.
During the trading session, gold reached a low of ₹160,197 and a high of ₹160,962.
Meanwhile, the silver contract for July 3, 2026, opened at ₹268,368, down ₹1,169 from the last closing of ₹269,537. Silver traded within a range, hitting a low of ₹268,018 and a high of ₹269,400.
In the international market, gold and silver are experiencing slight gains. On COMEX, gold is up by 0.17% at $4,540 per ounce, while silver has risen by 0.25% to $76 per ounce.
Global instability remains due to the ongoing U.S.-Iran conflict. Reports indicate that the U.S. and Iran have agreed to a 60-day ceasefire memorandum of understanding (MoU), pending final approval from U.S. President Donald Trump.
This agreement aims to extend the ceasefire and initiate formal discussions on the nuclear program, as well as address the reopening of the Strait of Hormuz. Recently, the U.S. conducted strikes in southern Iran, prompting Iran to claim retaliatory attacks, escalating tensions between the two nations.
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