Mumbai, May 5: Amid escalating tensions in the Middle East, trading in gold and silver has remained limited, with both precious metals showing slight declines.
On the Multi Commodity Exchange (MCX), the gold contract for June 5, 2026, was priced at ₹149,325, reflecting a minor drop of ₹14 or 0.01% as of 9:50 AM. During the trading session, gold reached a low of ₹149,325 and a high of ₹149,950.
Meanwhile, the silver contract for July 3, 2026, was trading at ₹243,222, down ₹673 or 0.28%. Silver’s trading range saw a minimum of ₹242,907 and a maximum of ₹243,927.
In international markets, gold and silver exhibited mixed trading patterns. As of the report, gold on COMEX rose by 0.14% to $4,540 per ounce, while silver fell by 0.42% to $73.21 per ounce.
The ongoing tensions in the Middle East have intensified, with U.S. President Donald Trump claiming that his military has sunk seven small Iranian vessels. This incident reportedly occurred while the vessels were attacking ships passing through the Strait of Hormuz. Iran has not responded but asserts its control over the Hormuz region.
Additionally, the Indian rupee has shown consistent weakness against the dollar amid global instability. According to data from the Intercontinental Exchange (ICE), the rupee opened weaker against the dollar and continued to decline, closing at ₹95.33, down by 26 paise.
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My name is Ganpat Singh Choughan. I am an experienced content writer with 7 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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