Gold Rate In India Up Rs 22,900 In 4 Days; 24K, 22K, 18K Gold Near Record; Will Gold Rise On June 6, Bakrid?

Gold rates in India have climbed for four consecutive day, and the trend is likely to continue on Friday, June 6 as global uncertainty increase demand for safe haven. On Friday, gold demand will be high due to the celebration of Bakrid in Middle Eastern countries.

In India, gold rates have climbed by Rs 22,900 from June 2-5 in 100 grams of 24 carat, while 10 grams gold price surged by Rs 2,290 during these days. The prices of 24 carats, 22 carats and 18-carat gold are nearing their record high.

Gold Prices In India:

100 grams gold price stood at Rs 9,96,100 in 24 carat, at Rs 9,13,100 in 22 carat, and Rs 7,47,100 in 18 carat on June 5th. Meanwhile, 10 grams of gold price was at Rs 99,610 for 24 carats, Rs 91,310 for 22 carats, and Rs 74,710 for 18 carats.

These prices are nearing their all-time high. For instance, 24-carat and 22-carat gold prices in 10 grams are a couple of hundred away from crossing their all-time highs of Rs 1,01,350 and Rs 92,900 respectively.

Gold prices are broadly up by 2.4% each in June 2025 so far.

This week, 100 grams gold price climbed by Rs 15,300 in 24 carats on June 2, followed by an upside of Rs 2200 and Rs 1100 on June 3rd and June 4th. Gold jumped by Rs 4300 on June 4th. From June 2nd-5th, 100 grams gold price skyrocketed by Rs 22,900 in 24 carats.

Silver Prices In India:

Meanwhile, silver prices have touched a new all-time high in India and at MCX. 1Kg silver price zoomed to hit Rs 1,04,100, while 100 grams and 10 grams silver prices are up to Rs 10,410 and Rs 1,041 respectively.

MCX Gold, Silver Prices:

MCX gold with an August 2025 expiry, ended at Rs 97,933 per 10 grams, marginally up by Rs 59 or 0.06%.

Meanwhile, MCX silver price closed at Rs 1,04,402 per 1kg, after hitting a new all-time high of Rs 1,05,484 per 1kg.

"Gold gave back some of yesterday's gains as easing trade tensions curbed haven buying. However, silver surged to its highest level in 13 years, triggered by improving fundamentals and technical momentum. After underperforming against gold, silver has suddenly attracted interest from investors, catching up to Gold's pace. U.S. President Donald Trump and Chinese leader Xi Jinping agreed to further talks to settle trade disputes," said, Manav Modi, Senior Analyst, Commodity Research at Motilal Oswal Financial Services.

Gold Prices In India Outlook On June 6:

However, Modi added, "President Trump said on social media that the talks focused primarily on trade led to "a very positive conclusion, however, Chinese officials had a different opinion. Meanwhile, after lower private payroll data, weekly U.S. jobless claims increased for a second straight week. Gold/Silver ratio reversed from the recent highs and marked a low of 94 in yesterday's session. Holdings into silver-backed ETFs are up 2.2moz on Wednesday. Focus today shifts to US non-farm payroll and Unemployment rate which could decide further direction for both metals."

Also, Aksha Kamboj, Vice President, India Bullion and Jewellers Association and Executive Chairperson, Aspect Global Ventures said, "markets are awaiting further clarity on the talks. In the immediate term, attention now shifts to upcoming US Jobs data. A stronger-than-expected reading could put additional pressure on gold prices, while any disappointment is likely to limit the downside, especially with growing expectations of at least two interest rate cuts by the US Federal Reserve in 2025 amid persistently weak economic indicators."

Going forward, Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities said, "gold is expected to trade in a positive range between Rs 97,000 and Rs 99,500, with sentiment hinging on upcoming U.S. economic data and geopolitical developments."