Gold prices strengthened today, Friday, a surge observed not only in the domestic market but also globally. Investor interest has once again shifted towards gold, considered a safe haven investment.
Gold-Silver Rate Today: Both gold and silver prices witnessed a rise in domestic and global markets on Friday, the last trading day of the week. This surge is a significant indicator of increasing investor interest in precious metals. This rise is particularly noteworthy amidst global economic instability and a slight weakening of the dollar.
Gold Shines on MCX
Trading opened in the green on the domestic Multi Commodity Exchange (MCX) Friday morning. Gold for delivery on June 5, 2025, traded at ₹95,895 per 10 grams, up 0.38 percent or ₹359. Meanwhile, gold for delivery on August 5, 2025, rose even further, increasing by 0.40 percent or ₹386 to reach ₹96,834 per 10 grams.
Experts attribute this surge to increased demand and investor buying in international markets. The approaching wedding season is also contributing to improved domestic jewelry demand.
Silver Also Shows Strong Gains
Similar to gold, silver prices also saw a significant increase. Silver for delivery on July 4, 2025, traded at ₹98,225 per kilogram, up 0.44 percent or ₹429. This represents a significant price point this year, attracting considerable investor attention. Increasing industrial consumption of silver, especially in the electronics and solar sectors, is driving up international demand, impacting domestic prices.
Gold's Performance in the Global Market
Precious metals also saw gains internationally. On Friday morning, COMEX gold traded at $3,342 per ounce, up 0.57 percent or $18.80. Similarly, gold in the spot market reached $3,313 per ounce, a 0.59 percent or $19.37 increase. This strengthening of gold in the global market is primarily attributed to a slight weakening of the US dollar, geopolitical tensions, and economic uncertainty. Investors are turning towards safer options, increasing gold purchases.
Silver's Performance in the International Market
Global silver prices also rose. COMEX silver reached $33.34 per ounce, up 0.36 percent or $0.12. The silver spot price also increased by 0.36 percent to $33.17 per ounce. The increase in international silver prices is largely due to its growing industrial use. Demand is rapidly increasing in sectors such as electronics, medical devices, and solar panels.
Reasons Behind the Price Surge?
- Global Economic Uncertainty: Uncertainty surrounding interest rate decisions at the next US Federal Reserve meeting is driving investors towards gold.
- Dollar Weakness: The strengthening of other currencies against the dollar has supported gold and silver prices.
- Surge in Domestic Demand: The upcoming festival and wedding season in India has increased domestic gold demand.
- Geopolitical Tensions: Ongoing global political instability has made gold a safer investment option.
Experts believe that gold and silver prices may rise further in the coming weeks. If you are considering investing, this may be a favorable time. However, invest with a long-term perspective and monitor market fluctuations.
