- News
- Business News
- India Business News
- Gold, Silver Rate Today Live Updates: International gold prices up as crude oil prices drop
THE TIMES OF INDIA | Jun 04, 2026, 11:09:01 IST
Comments
Share
LIVE NOW
Gold, Silver Rate Today Live Updates: International gold prices up as crude oil prices drop
Gold, Silver Rate Today Live Updates: International and domestic gold prices are seeing a volatile period as global geopolitical tensions and elevated crude oil prices keep central banks from cutting interest rates - a key factor that helps drive gold prices up.
Investors continue to monitor developments in discussions between the United States and Iran, with market sentiment swinging between optimism over diplomatic progress and concerns that negotiations could break down.
Attention is now turning towards upcoming US economic indicators, including job openings data, comments from Federal Reserve officials and the closely watched non-farm payrolls report due on Friday, all of which could shape expectations regarding the Fed's future policy direction.
Investors continue to monitor developments in discussions between the United States and Iran, with market sentiment swinging between optimism over diplomatic progress and concerns that negotiations could break down.
Attention is now turning towards upcoming US economic indicators, including job openings data, comments from Federal Reserve officials and the closely watched non-farm payrolls report due on Friday, all of which could shape expectations regarding the Fed's future policy direction.
LIVE RATES · INDIA
12:05:03 pm
11:09 (IST) Jun 04
Gold Rate Today: Gold, silver prices rise
Gold and silver began Thursday's trading session on a positive note on the Multi Commodity Exchange (MCX), supported by a weaker U.S. dollar and softer crude oil prices. Market participants also monitored growing optimism over the possibility of a diplomatic resolution to the conflict involving Iran and the U.S.-backed Israeli side.
In domestic trade, silver futures for July 2026 delivery on MCX advanced by Rs 753 to reach Rs 2,63,711 per kilogram. Gold contracts for August 2026 delivery gained Rs 840, trading at Rs 1,59,366 per 10 grams. Both precious metals had closed lower in the previous session, registering declines of as much as 1.45%.
Investor sentiment received a boost after the Trump administration announced on Wednesday that Israel and Lebanon had agreed to enforce a ceasefire. The development strengthened expectations that wider diplomatic efforts could eventually pave the way for a settlement of the Iran-related conflict.
At the same time, the Republican-majority U.S. House of Representatives approved a resolution aimed at stopping President Donald Trump from continuing military action against Iran. The vote reflected increasing concern among some members of his own party regarding the conflict, which has now entered its third month.
In global markets, spot gold rose 0.7% to $4,461.09 per ounce, while August-delivery U.S. gold futures added 0.5% to $4,487.90 per ounce. Other precious metals also traded higher, with spot silver climbing 0.6% to $73.13 per ounce. Platinum gained 0.7% to $1,872.11, and palladium advanced 0.9% to $1,313.51 per ounce.
In domestic trade, silver futures for July 2026 delivery on MCX advanced by Rs 753 to reach Rs 2,63,711 per kilogram. Gold contracts for August 2026 delivery gained Rs 840, trading at Rs 1,59,366 per 10 grams. Both precious metals had closed lower in the previous session, registering declines of as much as 1.45%.
Investor sentiment received a boost after the Trump administration announced on Wednesday that Israel and Lebanon had agreed to enforce a ceasefire. The development strengthened expectations that wider diplomatic efforts could eventually pave the way for a settlement of the Iran-related conflict.
At the same time, the Republican-majority U.S. House of Representatives approved a resolution aimed at stopping President Donald Trump from continuing military action against Iran. The vote reflected increasing concern among some members of his own party regarding the conflict, which has now entered its third month.
In global markets, spot gold rose 0.7% to $4,461.09 per ounce, while August-delivery U.S. gold futures added 0.5% to $4,487.90 per ounce. Other precious metals also traded higher, with spot silver climbing 0.6% to $73.13 per ounce. Platinum gained 0.7% to $1,872.11, and palladium advanced 0.9% to $1,313.51 per ounce.
10:28 (IST) Jun 04
Gold Rate Today: International gold prices move up
Gold prices moved higher on Thursday, aided by a decline in both crude oil prices and the US dollar, as investors evaluated renewed optimism surrounding efforts to bring an end to the conflict involving Iran and the United States' regional ally, Israel.
As of 0408 GMT, spot gold had advanced 0.7% to $4,464.69 per ounce. Meanwhile, US gold futures for August settlement climbed 0.6% to $4,491.70 per ounce.
A softer dollar also provided support to the precious metal, as gold denominated in the US currency became less expensive for buyers using other currencies.
According to Tim Waterer, Chief Market Analyst at KCM Trade, movements in gold continue to be closely tied to developments in oil markets and the dollar. He noted that the metal tends to gain ground when both retreat, leaving its ability to sustain an upward trend largely dependent on encouraging headlines related to US-Iran developments.
Market sentiment was further influenced after the Trump administration announced on Wednesday that Israel and Lebanon had agreed to implement a ceasefire, raising expectations that broader diplomatic progress could eventually help resolve the conflict involving Iran.
Separately, the Republican-controlled US House of Representatives passed a resolution seeking to prevent President Donald Trump from continuing military involvement against Iran. The move underscored increasing unease among members of his own party regarding the conflict, which has now lasted for three months.
As of 0408 GMT, spot gold had advanced 0.7% to $4,464.69 per ounce. Meanwhile, US gold futures for August settlement climbed 0.6% to $4,491.70 per ounce.
A softer dollar also provided support to the precious metal, as gold denominated in the US currency became less expensive for buyers using other currencies.
According to Tim Waterer, Chief Market Analyst at KCM Trade, movements in gold continue to be closely tied to developments in oil markets and the dollar. He noted that the metal tends to gain ground when both retreat, leaving its ability to sustain an upward trend largely dependent on encouraging headlines related to US-Iran developments.
Market sentiment was further influenced after the Trump administration announced on Wednesday that Israel and Lebanon had agreed to implement a ceasefire, raising expectations that broader diplomatic progress could eventually help resolve the conflict involving Iran.
Separately, the Republican-controlled US House of Representatives passed a resolution seeking to prevent President Donald Trump from continuing military involvement against Iran. The move underscored increasing unease among members of his own party regarding the conflict, which has now lasted for three months.
08:03 (IST) Jun 04
Gold tests key support amid stronger dollar, rising oil
"Gold is under pressure, knocking on the $4,450 support level due to renewed clashes in the Middle East. Fading hopes of an imminent U.S.-Iran peace deal are likely to keep oil prices elevated," said Lukman Otunuga, Senior Research Analyst at FXTM.
A firmer dollar and a third straight session of gains in crude oil prices added pressure on bullion, with higher energy costs seen fueling inflation risks.
06:09 (IST) Jun 04
Gold slips as Middle East tensions fuel inflation concerns
Spot gold fell 0.5% to $4,463.74 an ounce, while US gold futures for August delivery declined 0.6% to $4,492. Renewed hostilities in the Middle East pushed oil prices higher, raising inflation concerns and strengthening expectations that interest rates could stay elevated for longer.
05:31 (IST) Jun 04
Factors to watch for gold silver price outlook
Investors will closely watch US non-farm payrolls data and other labour market indicators for clues on the Federal Reserve's interest-rate trajectory. Developments in West Asia, progress in US-Iran negotiations, and movements in crude oil prices will also remain key drivers for silver sentiment, as they could influence inflation expectations and the outlook for monetary policy.
03:44 (IST) Jun 04
Silver weakens as oil-driven inflation concerns support tighter Fed outlook
Silver prices remained under pressure amid uncertainty over US-Iran peace talks, which has kept oil prices elevated and raised inflation concerns.
"Silver is trading weak amid continued uncertainty over US-Iran peace talks that has pushed oil prices higher, raising inflation worries and supporting the case for a tighter Fed stance," said Renisha Chainani, Head of Research at Augmont.
The higher interest-rate outlook reduced the appeal of non-yielding assets such as silver, contributing to weakness in domestic and international markets.
01:33 (IST) Jun 04
Gold slips as stronger dollar and rising yields curb safe-haven demand
Gold prices fell more than 0.8% to around $4,449 an ounce as a stronger US dollar and higher Treasury yields reduced the appeal of the non-yielding metal. Investors reassessed expectations for interest rates amid resilient US economic data.
00:11 (IST) Jun 04
Safe-haven buying capped by dollar strength; gold extends losses
Gold extended declines as gains in the dollar index and expectations of tighter monetary policy overshadowed safe-haven demand from geopolitical risks. The metal slipped even as global equities weakened and tensions around the Strait of Hormuz intensified.
22:41 (IST) Jun 03
Gold futures decline across MCX, all contracts trading in red
MCX gold futures traded lower across all active contracts as of June 3, 2026 at 22:35, reflecting uniform weakness in the commodity. Prices declined across the curve, with losses ranging from -0.44% in the August 2026 contract to -0.89% in the June 2026 contract. The August 2026 expiry remained the most actively traded contract, recording the highest volume and open interest, indicating strong market participation despite negative price action.
20:59 (IST) Jun 03
Gold under pressure as stronger dollar, higher oil prices offset safe-haven demand
Gold prices remained under pressure on Wednesday, with spot gold slipping 0.5% as a firmer US dollar and rising crude oil prices weighed on investor sentiment despite escalating tensions in the Middle East.
"Gold is under pressure, knocking on the $4,450 support level due to renewed clashes in the Middle East. Fading hopes of an imminent US-Iran peace deal are likely to keep oil prices elevated," said Lukman Otunuga, senior research analyst at FXTM.
The dollar edged up 0.1%, while oil prices extended gains for a third consecutive session, raising concerns that inflationary pressures could persist. Higher crude prices increase the likelihood of interest rates remaining elevated for longer, a negative factor for gold.
19:41 (IST) Jun 03
Gold slips as stronger dollar, higher oil prices outweigh safe-haven demand
Gold prices declined on Wednesday as a stronger US dollar and rising crude oil prices pressured bullion, even as escalating tensions in the Middle East kept investors on edge. Spot gold fell 0.5% to $4,463.74 an ounce, while US gold futures for August delivery eased 0.6% to $4,492. Continued hostilities involving Iran and the US, including missile strikes and military action near the Strait of Hormuz, heightened geopolitical risks but failed to lift gold prices.
18:32 (IST) Jun 03
Bengaluru closing bullion rates
1 Gm Gold 22 Kt - Rs 14,750
1 Gm Gold 24 Kt - Rs 16,090
Silver Per Kg: Rs 2,78,000.17:04 (IST) Jun 03
Gold drops Rs 1,850 amid weak global cues; silver declines Rs 1,500
Gold prices declined by Rs 1,850 to Rs 1.59 lakh per 10 grams in the national capital on Wednesday amid weakness in global markets and uncertainty over the US-Iran ceasefire agreement.
According to the All India Sarafa Association, the yellow metal of 99.9 per cent purity depreciated by Rs 1,850, or 1.14 per cent, to Rs 1,59,600 per 10 grams (inclusive of all taxes) from Tuesday's closing level of Rs 1,61,450 per 10 grams.
Silver prices also slumped by Rs 1,500, or 0.55 per cent, to Rs 2,69,500 per kilogram (inclusive of all taxes). The white metal had settled at Rs 2,71,000 per kg in the previous session.
Gold and silver prices dipped in the domestic markets on Wednesday amid escalating tensions between the US and Iran, which has fuelled fears of prolonged high interest rates, impacting precious metals, Gaurav Garg, Research Analyst at Lemonn Markets Desk, said.
In the international markets, spot gold fell 0.54 per cent to USD 4,463.84 per ounce and silver slipped 1 per cent to USD 74.43 per ounce.
15:27 (IST) Jun 03
Gold Rate Today: Gold under pressure as US-Iran deal remains elusive
Yesterday, gold squandered its intra-day gain of 1.3% to close with a loss of 0.24% at $4474 as Israel resumed its attacks in Lebanon and US hardened its stance on deal with Iran.
US Secretary of State Marco Rubio, in his yesterday's testimony to the Foreign Relations Committee, said that in order to get the US blockade removed, Iran must first open the Strait of Hormuz and commit to talks on Uranium that could happen in the second phase of agreement.
President Donald Trump wants written commitments from Iran on key aspects of its nuclear programme before moving ahead with a preliminary agreement.
US JOLTs job openings rose to 7.618 million in April 2026, the highest since November 2024 (forecast 6.88 million) highlighting labor market resilience, though hirings decreased.
Today, Kuwait’s International Airport has been hit by a barrage of missiles and drones, while Bahrain intercepted three missiles several drones targeting its civilian infrastructure.
Crude oil prices have jumped sharply on escalating Middle East tensions and Rubio's views that he wants Russian oil purchases waiver to end as soon as possible.
Today's US data include crucial data of ADP employment change (May) and ISM services (May).
Gold, currently down 0.74% at $4456, looks vulnerable on strong US data and surged in oil prices. A close below the key support at $4400 will open to March 23 low of $4099. Resistance is at $4550/$4600, says Praveen Singh, Head of Commodities at Mirae Asset ShareKhan
US Secretary of State Marco Rubio, in his yesterday's testimony to the Foreign Relations Committee, said that in order to get the US blockade removed, Iran must first open the Strait of Hormuz and commit to talks on Uranium that could happen in the second phase of agreement.
President Donald Trump wants written commitments from Iran on key aspects of its nuclear programme before moving ahead with a preliminary agreement.
US JOLTs job openings rose to 7.618 million in April 2026, the highest since November 2024 (forecast 6.88 million) highlighting labor market resilience, though hirings decreased.
Today, Kuwait’s International Airport has been hit by a barrage of missiles and drones, while Bahrain intercepted three missiles several drones targeting its civilian infrastructure.
Crude oil prices have jumped sharply on escalating Middle East tensions and Rubio's views that he wants Russian oil purchases waiver to end as soon as possible.
Today's US data include crucial data of ADP employment change (May) and ISM services (May).
Gold, currently down 0.74% at $4456, looks vulnerable on strong US data and surged in oil prices. A close below the key support at $4400 will open to March 23 low of $4099. Resistance is at $4550/$4600, says Praveen Singh, Head of Commodities at Mirae Asset ShareKhan
14:37 (IST) Jun 03
Gold Rate Today: Mumbai bullion opening rates
Silver spot (in Rs per kilo) : 262000.00
Standard gold (99.5) : 154642.00
Pure gold (99.9) : 155264.00
Standard gold (99.5) : 154642.00
Pure gold (99.9) : 155264.00
14:35 (IST) Jun 03
Gold Rate Today: RBI debunks reports of selling gold
The Reserve Bank of India (RBI) on Wednesday dismissed reports suggesting that it had sold a portion of its gold reserves, stating that its physical gold holdings remain unchanged at 880.52 tonnes.
The clarification follows media reports that the central bank may have offloaded nearly USD 12 billion worth of gold in an effort to protect its foreign exchange reserves from the impact of the ongoing conflict in West Asia.
In an official statement, the RBI said such reports were inaccurate and stressed that there has been no reduction in its physical gold stock.
The central bank also urged the public to rely on information released through its official channels for matters relating to its reserves and financial operations.
The clarification follows media reports that the central bank may have offloaded nearly USD 12 billion worth of gold in an effort to protect its foreign exchange reserves from the impact of the ongoing conflict in West Asia.
In an official statement, the RBI said such reports were inaccurate and stressed that there has been no reduction in its physical gold stock.
The central bank also urged the public to rely on information released through its official channels for matters relating to its reserves and financial operations.
11:29 (IST) Jun 03
Gold Rate Today: What’s the outlook?
MCX Gold:
MCX Gold prices declined nearly 4% over the last two weeks amid a stronger US dollar and weakness in the Indian rupee. Currently, the August contract is trading around 159300. The key weekly support is placed at the 20-week EMA near 157380, while daily EMAs remain above current prices, indicating short-term bearish pressure. The overall trend remains moderately bearish, with major support seen at 157380–152700 and resistance placed at 163650–169000, says Kaveri More, Commodity Analyst Technical Research at Choice Broking.
MCX Silver:
MCX Silver continues to witness range-bound trading between 261000 and 277400. Despite the recent correction, silver has shown relative resilience compared to gold, with the Gold/Silver Ratio (Mint Ratio) hovering around 59–60. Going forward, silver is likely to remain sideways unless a decisive breakout occurs. Key support levels are placed at 261000–249300, while resistance is seen at 277400–299000.
MCX Crude Oil:
MCX Crude Oil has rebounded strongly after forming a low near 8205, with the June contract currently trading around 9075, up nearly 10% from recent lows. The recovery suggests improving bullish momentum, although prices are approaching an important resistance zone. Immediate support is seen at 8200–7840, while resistance is placed at 9230–9600. A sustained move above 9230 could open the door for further upside towards 9600--10100.
MCX Gold prices declined nearly 4% over the last two weeks amid a stronger US dollar and weakness in the Indian rupee. Currently, the August contract is trading around 159300. The key weekly support is placed at the 20-week EMA near 157380, while daily EMAs remain above current prices, indicating short-term bearish pressure. The overall trend remains moderately bearish, with major support seen at 157380–152700 and resistance placed at 163650–169000, says Kaveri More, Commodity Analyst Technical Research at Choice Broking.
MCX Silver:
MCX Silver continues to witness range-bound trading between 261000 and 277400. Despite the recent correction, silver has shown relative resilience compared to gold, with the Gold/Silver Ratio (Mint Ratio) hovering around 59–60. Going forward, silver is likely to remain sideways unless a decisive breakout occurs. Key support levels are placed at 261000–249300, while resistance is seen at 277400–299000.
MCX Crude Oil:
MCX Crude Oil has rebounded strongly after forming a low near 8205, with the June contract currently trading around 9075, up nearly 10% from recent lows. The recovery suggests improving bullish momentum, although prices are approaching an important resistance zone. Immediate support is seen at 8200–7840, while resistance is placed at 9230–9600. A sustained move above 9230 could open the door for further upside towards 9600--10100.
10:25 (IST) Jun 03
Gold Rate Today: Investors remain cautious
Gold prices edged lower in early morning trade as investors remained cautious amid ongoing geopolitical tensions in the Middle East and ahead of a key batch of US economic data that could offer further clarity on the Federal Reserve’s policy outlook.
Markets continued to monitor developments in the region after Israel maintained military operations in southern Lebanon, while Iran reportedly launched ballistic missiles toward Kuwait and Bahrain. Meanwhile, US forces conducted strikes on Iran’s Qeshm Island near the Strait of Hormuz, a strategically important route for nearly one-fifth of global oil flows. Although US and Iran had previously indicated progress toward a framework agreement to end hostilities, uncertainty persists as Iranian media suggested communication between the two sides has stalled, while President Trump maintained that negotiations remain active.
Elevated oil prices continue to fuel inflation concerns, limiting gold’s safe-haven appeal as traders increasingly price in the possibility of tighter monetary policy.
Meanwhile, US job openings unexpectedly rose in April, reinforcing expectations that the Fed could keep interest rates higher for longer. Gold also surrendered part of its earlier gains following the stronger labour market data. Looking ahead, markets will closely track the ADP employment report, ISM Services PMI and Factory Orders data due later today, while attention remains firmly on Friday’s US Non-Farm Payrolls report, says Manav Modi Commodities Analyst Motilal Oswal Financial Services Ltd.
Markets continued to monitor developments in the region after Israel maintained military operations in southern Lebanon, while Iran reportedly launched ballistic missiles toward Kuwait and Bahrain. Meanwhile, US forces conducted strikes on Iran’s Qeshm Island near the Strait of Hormuz, a strategically important route for nearly one-fifth of global oil flows. Although US and Iran had previously indicated progress toward a framework agreement to end hostilities, uncertainty persists as Iranian media suggested communication between the two sides has stalled, while President Trump maintained that negotiations remain active.
Elevated oil prices continue to fuel inflation concerns, limiting gold’s safe-haven appeal as traders increasingly price in the possibility of tighter monetary policy.
Meanwhile, US job openings unexpectedly rose in April, reinforcing expectations that the Fed could keep interest rates higher for longer. Gold also surrendered part of its earlier gains following the stronger labour market data. Looking ahead, markets will closely track the ADP employment report, ISM Services PMI and Factory Orders data due later today, while attention remains firmly on Friday’s US Non-Farm Payrolls report, says Manav Modi Commodities Analyst Motilal Oswal Financial Services Ltd.
10:24 (IST) Jun 03
Gold Rate Today: Gold, silver futures slip
Gold and silver prices started Wednesday's session on a weaker note on the Multi Commodity Exchange (MCX), as escalating tensions in the Middle East pushed crude oil prices higher and renewed concerns that inflation could remain stubbornly elevated, potentially delaying any easing in interest rates.
In domestic trading, silver futures for July 2026 delivery slipped Rs 700 to Rs 2,66,011 per kilogram. Gold futures for August 2026 delivery also traded lower at Rs 1,59,342 per 10 grams. In the previous session, both precious metals had ended with modest gains, with silver advancing about 0.13%.
The geopolitical backdrop remained tense after the US military reported that missile attacks launched by Iran towards Bahrain, Kuwait and other regional locations were either intercepted or failed to reach their intended targets. The developments came at a time when diplomatic engagement between Washington and Tehran showed little sign of meaningful progress.
At the same time, crude oil prices rose more than 1% in early trade, raising fresh concerns that higher energy costs could feed inflation and make the interest-rate outlook more challenging for policymakers.
In global markets, spot gold fell 0.2% to $4,476.50 per ounce as of 0103 GMT, while US gold futures for August delivery declined 0.3% to $4,504.40 per ounce. Other precious metals also traded lower, with spot silver shedding 0.5% to $74.73 per ounce, platinum easing 0.2% to $1,932.25 per ounce and palladium declining 0.3% to $1,365.25 per ounce.
In domestic trading, silver futures for July 2026 delivery slipped Rs 700 to Rs 2,66,011 per kilogram. Gold futures for August 2026 delivery also traded lower at Rs 1,59,342 per 10 grams. In the previous session, both precious metals had ended with modest gains, with silver advancing about 0.13%.
The geopolitical backdrop remained tense after the US military reported that missile attacks launched by Iran towards Bahrain, Kuwait and other regional locations were either intercepted or failed to reach their intended targets. The developments came at a time when diplomatic engagement between Washington and Tehran showed little sign of meaningful progress.
At the same time, crude oil prices rose more than 1% in early trade, raising fresh concerns that higher energy costs could feed inflation and make the interest-rate outlook more challenging for policymakers.
In global markets, spot gold fell 0.2% to $4,476.50 per ounce as of 0103 GMT, while US gold futures for August delivery declined 0.3% to $4,504.40 per ounce. Other precious metals also traded lower, with spot silver shedding 0.5% to $74.73 per ounce, platinum easing 0.2% to $1,932.25 per ounce and palladium declining 0.3% to $1,365.25 per ounce.
08:03 (IST) Jun 03
Gold Rate Today: Gold price round-up on Tuesday
Gold prices recovered sharply in the national capital on Tuesday, crossing the Rs 1.61 lakh mark per 10 grams, as softer crude oil prices and a weaker US dollar renewed buying interest in the precious metal.
According to the All India Sarafa Association, gold of 99.9% purity rose by Rs 1,050 to Rs 1,61,450 per 10 grams, inclusive of taxes. The metal had settled at Rs 1,60,400 per 10 grams in the previous session.
Silver also posted gains, advancing Rs 1,300 to Rs 2,71,000 per kilogram from Monday's closing level of Rs 2,69,700 per kg.
According to the All India Sarafa Association, gold of 99.9% purity rose by Rs 1,050 to Rs 1,61,450 per 10 grams, inclusive of taxes. The metal had settled at Rs 1,60,400 per 10 grams in the previous session.
Silver also posted gains, advancing Rs 1,300 to Rs 2,71,000 per kilogram from Monday's closing level of Rs 2,69,700 per kg.
08:01 (IST) Jun 03
Gold Rate Today: Crude oil prices rise
Crude oil prices rose more than 1% in early trade, intensifying concerns that higher energy costs could fuel inflation and potentially lead to tighter monetary policy.
Investors are closely tracking upcoming US labour market data, including the nonfarm payrolls report due later in the day and the broader employment report scheduled for Friday, for clues on the Federal Reserve's next policy moves.
Swiss customs data released on Tuesday showed that Switzerland's gold exports fell 20% in April compared with the previous month. Lower shipments to Britain and China more than offset increased exports to India and Hong Kong.
India has tightened norms governing silver imports by bringing grain and powder forms of the metal under the restricted category and requiring importers to obtain prior authorisation. The move is aimed at curbing inflows and reducing pressure on the rupee.
Among other precious metals, spot silver fell 0.5% to $74.73 per ounce, platinum eased 0.2% to $1,932.25 per ounce, and palladium declined 0.3% to $1,365.25 per ounce.
Investors are closely tracking upcoming US labour market data, including the nonfarm payrolls report due later in the day and the broader employment report scheduled for Friday, for clues on the Federal Reserve's next policy moves.
Swiss customs data released on Tuesday showed that Switzerland's gold exports fell 20% in April compared with the previous month. Lower shipments to Britain and China more than offset increased exports to India and Hong Kong.
India has tightened norms governing silver imports by bringing grain and powder forms of the metal under the restricted category and requiring importers to obtain prior authorisation. The move is aimed at curbing inflows and reducing pressure on the rupee.
Among other precious metals, spot silver fell 0.5% to $74.73 per ounce, platinum eased 0.2% to $1,932.25 per ounce, and palladium declined 0.3% to $1,365.25 per ounce.
08:01 (IST) Jun 03
Gold Rate Today: Smuggling on the rise?
Surendra Mehta, National Secretary of the India Bullion & Jewellers Association, said a significant portion of undeclared gold is being carried by travellers arriving from Gulf countries. In many cases, passengers bring the metal into the country by wearing it and then pass through airport green channels without declaring it to customs authorities.
08:01 (IST) Jun 03
Gold Rate Today: Silver imports rules tightened
The government has tightened rules governing silver imports, requiring all incoming shipments of the metal to be channelled through RBI-designated agencies, entities approved by the Directorate General of Foreign Trade (DGFT), and eligible jewellers authorised by the International Financial Services Centres Authority (IFSCA) through the India International Bullion Exchange (IIBX). Such imports will now require a valid authorisation issued by the DGFT.
The move comes as authorities continue efforts to curb non-essential imports amid the ongoing West Asia crisis. Last month, import duties on both gold and silver were increased to 15%. Meanwhile, silver imports surged 157% year-on-year in April, reaching $411 million.
In a notification issued on Tuesday, the DGFT clarified that imports of silver—including silver plated with gold or platinum—in unwrought, semi-manufactured, powder or grain form, as well as silver containing 99.9% or higher purity by weight, will be permitted only against a valid import licence. This condition applies to imports made through RBI-notified agencies in the case of banks, DGFT-approved agencies in other cases, and qualified jewellers authorised by the IFSCA for transactions routed through the IIBX wherever permitted.
India sources a substantial portion of its silver imports from the UAE, the UK and China, which remain the country's leading suppliers of the precious metal.
The move comes as authorities continue efforts to curb non-essential imports amid the ongoing West Asia crisis. Last month, import duties on both gold and silver were increased to 15%. Meanwhile, silver imports surged 157% year-on-year in April, reaching $411 million.
In a notification issued on Tuesday, the DGFT clarified that imports of silver—including silver plated with gold or platinum—in unwrought, semi-manufactured, powder or grain form, as well as silver containing 99.9% or higher purity by weight, will be permitted only against a valid import licence. This condition applies to imports made through RBI-notified agencies in the case of banks, DGFT-approved agencies in other cases, and qualified jewellers authorised by the IFSCA for transactions routed through the IIBX wherever permitted.
India sources a substantial portion of its silver imports from the UAE, the UK and China, which remain the country's leading suppliers of the precious metal.
08:01 (IST) Jun 03
Gold Rate Today: International gold prices edge down
Gold prices edged lower on Wednesday as escalating tensions in the Middle East lifted crude oil prices, reinforcing concerns that inflationary pressures could persist and keep interest rates elevated for a longer period.
Spot gold slipped 0.2% to $4,476.50 per ounce by 0103 GMT, while US gold futures for August delivery declined 0.3% to $4,504.40 per ounce.
Fresh geopolitical tensions emerged in the Gulf after the US military said Iranian missile attacks targeting Bahrain, Kuwait and other locations in the region were either intercepted or failed to reach their objectives. The developments highlighted the lack of progress in diplomatic efforts between Washington and Tehran.
Spot gold slipped 0.2% to $4,476.50 per ounce by 0103 GMT, while US gold futures for August delivery declined 0.3% to $4,504.40 per ounce.
Fresh geopolitical tensions emerged in the Gulf after the US military said Iranian missile attacks targeting Bahrain, Kuwait and other locations in the region were either intercepted or failed to reach their objectives. The developments highlighted the lack of progress in diplomatic efforts between Washington and Tehran.
Gold, Silver Rate Today Live Updates: On the domestic front, the recent increase in import duties has begun to fuel a rise in gold smuggling, with industry participants and market observers reporting a growing flow of the precious metal into India through unofficial routes, particularly from the Middle East. According to traders, gold brought into the country outside formal channels is currently available at a discount of roughly ₹8-10 lakh per kilogram compared with prevailing domestic market prices.
Industry experts warn that the situation bears similarities to developments seen after a comparable increase in import duties in 2013. According to the World Gold Council, unofficial gold inflows surged nearly sevenfold within a year following that duty hike, raising concerns that a similar pattern could emerge again.
(Disclaimer: Recommendations and views on the stock market, other asset classes or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times of India.)
Industry experts warn that the situation bears similarities to developments seen after a comparable increase in import duties in 2013. According to the World Gold Council, unofficial gold inflows surged nearly sevenfold within a year following that duty hike, raising concerns that a similar pattern could emerge again.
(Disclaimer: Recommendations and views on the stock market, other asset classes or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times of India.)
Trending
Explore Every Corner
Across The Globe
Dianna Russini and Mike Vrabel ScandalDelhi Malviya Nagar Hotel FireUS Iran WarLalit ModiMaria sharapovaTaylor SwiftVijay ShankarDK Shivakumar Announces Free Bus PassesJalen Brunson InjuryFortnite Chapter 7 Season 3Malviya Nagar Restaurant OwnerKrunal PandyaKCET Result 2026Bihar Hospital FirePrayagraj MurderAnnapurna YojanaCapital Gains TaxCBSE Re-EvaluationNEET LeakCapital gains taxVirat kohliAryna Sabalenka and Georgios Combined Net WorthVaibhav SooryavanshiNFL Trade RumorsKylian MbappéDelhi Restaurant FireWho is Maja ChwalinskaDeclan RiceMalviya Nagar Restaurant FirePatrik Laine
Hot on the Web
Aamir KhanShah Rukh KhanPeddi ReviewKJR RajeshKangana RanautHeart HealthGaurav GeraAhaan PandayBigg Boss Kannada 13Shilpa ShindeArchana Puran SinghKedarnath DhamKushboo SundarKheera VS KakdiDalchini Water BenefitsPeddi ReviewProtein Powder RiskGauri SprattBarack Obama QuoteSouth Delhi Restaurant TragedyPeabo Bryson Death NewsDeepika PadukonePooja BediDrishyam 3 Box Office CollectionKaruppu Box Office CollectionDhurandhar 2 Box Office CollectionChand Mera Dil Box Office CollectionYashAjay DevgnHoroscope TodayDelhi Malviya Nagar Fire4th Squadron S-400India Sudarshan ChakraFirstcry CompensationIAF France Jet DealHuman Evolving On Tibetan PlateauLargest Islands In The WorldJellyfish That Never DiesGoogle Release MosquitoesDelivery Firm Refund DeniedNyt ConnectionsCaptions For Instagram Posts
Trending Topics
Muzaffarpur Hospital FireKrunal PandyaKashi Railway StationDelhi Malviya Nagar Hotel FireFirhad HakimOmar AbdullahAbhishek BanerjeeVaibhav SooryavanshiAnnamalaiFirhad HakimPat CumminsJos ButtlerSuryakumar YadavAndrew TateNick CastellanosNedumangad MurderNFL Trade RumorTaylor SwiftUttarkashi Babita Pandey CaseKuwait airport drone attackIran WarDonald TrumpLos Angeles airport detentionJamshid GhomiPakistan Rape CaseIsrael Lebanon ceasefireOhio Car CrashImran KhanTaiwan detects Chinese aircraftMalviya Nagar Hotel FireAmazon Satellite Internet Chief EmployeeGoogle Acknowledges Data CentersMustafa SuleymanNASA New WebsiteBill StaplesApple Nvidia ChipUltrahuman Data BreachHack Of The DayGarena Free Fire MAX Redeem CodesPeroxide CodesGenshin Impact Codes
Popular Categories
HeadlinesSports NewsBusiness NewsIndia NewsWorld NewsInternational SportsHealthBreaking NewsTravelAstrologyDeorhiTOI Young LeadersTOI Home Decor AwardsPower Creator Awards 2026TOI Ecopreneur Awards 2026Gold Rate TodayWeather TodaySilver Price TodayDelhi Weather TodayPetrol Price TodayDiesel Price TodayCNG Price TodayLPG Price TodayPetrol Price MumbaiDelhi AQIIs Bank Open TodayMumbai AQI TodayIs Bank Open TomorrowPublic Holidays in JuneBank Holidays in June
Trending Videos
BOOM! Kuwait City Bombed; Airport Destroyed, Dozens Of Casualties As Insane Footage EmergesJune 4 Astro Alert: A Major Cosmic Shift Could Change Your Zodiac’s Destiny | Times Mantra Trump STUNS Viewers With 'SWOLLEN EYE' On 'Pod Force One' After Going MIA For Week Amid Health FearsUS Military Confirms Another Troop Death At Iraq Airbase During Anti-ISIS Mission Support OperationsFriendly Fire In Kuwait?: Iran Says U.S. Patriot Caused Airport Blast In Gulf CapitalIran War 2.0 Averted? US Mediates Ceasefire Between Israel and Lebanon After Big Warning From IranTrump's Fresh Russian Oil Sanction Ultimatum To India Tests PM Modi's Energy Security DoctrineDelhi Government Orders Crackdown After Fatal Hotel Fire In Malviya NagarIndia’s Naval Power Grows With Induction Of Five Indigenous WarshipsBrahMos Boom: How India's Power Missile Is Helping Asia Push Back Against 'Expansionist' ChinaBig Iran Humiliation For Trump; Fellow Republicans VOTE Against POTUS In Stunning House Twist'You Shut up, Not A Word Anymore': Shouting Match In House; Rep. Al Green Blasts DHS Nominee Mullin‘SHUT UP AND ANSWER…’: Huge Rubio Vs Dean Shouting Match Erupts Over US-Israel ‘Genocidal’ PolicyCalifornia: Tense Scene As Hostage Taker Shot Dead By FBI After 15-hour Bakersfield Standoff ‘Your Boss Doesn’t Care’: Senator Hassan DESTROYS Trump’s Treasury Secy Over Rising Costs In USRubio's 2-Word Chilling Threat To SEIZE Greenland From Denmark | 'For Now...'Putin Vows Fiery Revenge After Ukrainian Drones Turn St. Petersburg Oil Refinery Into Fireball'Kick His A**': Scott Bessent Stuns Senate With Blunt Confession Over Trump DNI Pick Bill Pulte
Latest News
Hazaribag man drowns while fishing in lake"Behen Darr Gayi!": Fans relive ‘Bhagam Bhag’ era after watching Akshay Kumar's 'Bhooth Bangla' trailerMBOSE HSLC result 2026 to release tomorrow: Check details hereIran war risk: JPMorgan CEO Jamie Dimon warns of oil shocks, sticky inflation and higher interest ratesMake your clutch last longer with these easy driving tips“Three-against-one situation”: El Rubius opens up on being “targeted” in MrBeast’s viral $1M challengeBihar BTSC lab assistant notification released for 1091 posts at btsc.bihar.gov.in; apply hereIPL craze costs techie Rs 1.46 lakh in fake RCB vs CSK ticket scamRaising “robot-proof” kids: Why creativity and curiosity matter more than everInside ‘Satguru Sharan’: Exploring Saif Ali Khan and Kareena Kapoor Khan’s Rs 100 crore Bandra homeHow selling Alaska in 1867 was a costly mistake for Russia'Hera Pheri 3 is coming': Paresh Rawal dismisses delay reports and reveals he will 'start shooting soon'US-Iran War: A daring rescue Hollywood blockbuster is on its way. Till then, pick your favourite from these 10 films on bringing someone home against all oddsKolkata team unveils fan mural at Rash Behari Avenue, celebrating city’s first loveHow US spread a lie to rescue a pilot of a jet shot down in IranNetflix unveils ‘VOID’, an AI model that can change a movie plotAI data centers are causing 'stress' not just to tech companies, but also private insurers"Trans women are.....": Clavicular’s viral moment with trans women sparks fresh conversation on internet culture
Copyright © 2026 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service