Gold Prices Surge as Silver Crosses ₹2.80 Lakh Mark

Mumbai, May 12: Gold and silver prices opened strongly on Tuesday, showing an increase of up to 1.33 percent for both precious metals.

On the Multi Commodity Exchange (MCX), the June 5, 2026 gold contract opened at ₹1,53,999, up ₹336 or 0.22 percent from the previous closing of ₹1,53,663.

By 10 AM, gold had risen by ₹561 or 0.37 percent, reaching ₹1,54,224. During the trading session, gold hit a low of ₹1,53,851 and a high of ₹1,54,243.

The July 3, 2026 silver contract opened at ₹2,80,229, reflecting an increase of ₹1,988 or 0.70 percent from the last closing of ₹2,78,311.

As of the latest update, silver was trading at ₹2,82,006, up ₹3,695 or 1.33 percent. The metal reached a high of ₹2,82,755 and a low of ₹2,79,244 during the session.

Internationally, both gold and silver also saw gains. On COMEX, gold was up 0.08 percent at $4,733 per ounce, while silver rose by 1.05 percent to $86 per ounce.

The strength in gold and silver is attributed to global instability. Tensions have escalated following U.S. President Trump’s rejection of Iran’s peace proposal. Ongoing disputes over nuclear programs, U.S. sanctions, and ballistic missile issues have contributed to this instability.

Due to global uncertainties, gold has provided a 47 percent return in the past year and a 12 percent return over the last six months. Silver has outperformed with a 166 percent return over the past year and over 63 percent in the last six months.

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