Gold price today 3 June: Gold rate rose in morning deals on MCX on Wednesday, 3 June, supported by a slightly weaker dollar and higher crude oil prices, even as investors’ focus remained on developments surrounding a potential US-Iran peace deal.
for August futures contracts was trading 0.21% higher at ₹1,59,730 per 10 grams. MCX silver futures, on the other hand, were trading 0.29% higher at ₹2,68,170 per kg at around 9:39 am.
The war in the Middle East continues to drag on, with the US military saying that Iranian missile attacks on Bahrain, Kuwait and other regional targets were either thwarted or failed as the possibility of peace and diplomacy between Washington and Tehran showed little positive change.
Following these developments, crude oil prices jumped by more than 1%, deepening concerns about inflation, economic uncertainty, and interest rate hikes.
Important geopolitical developments
Japan’s Nikkei hits record high as Asia markets rise amid Middle East concerns
Asia-Pacific markets opened broadly higher on Wednesday, with Japan’s Nikkei 225 hitting a record high, according to CNBC, as investors appeared to look past uncertainty over aimed at ending the Middle East conflict and bringing in peace.
US proposes fresh tariffs on 60 economies over forced labour trade practices
According to another CNBC report, the Office of the US Trade Representative has proposed on imports from 60 economies for failing to ban goods made with forced labour, in a sweeping action that would hurt most prominent trading partners, including China, the European Union, India and Japan.
Oil climbs as US-Iran trade strikes while Trump says negotiations with Tehran are underway
Oil prices rose on Wednesday as investors weighed uncertainty over US-Iran talks, even as the two countries launched fresh strikes on Tuesday, and US said negotiations with Tehran were ongoing.
West Texas Intermediate futures for July delivery gained more than 1% to $94.81, while the international benchmark Brent crude for August delivery advanced 0.88% to $96.84 per barrel.
Here are the most recent price changes in gold and silver across various cities in India.
Gold Prices in Mumbai — 3 June
24 karat gold rate in Mumbai — ₹159,430/10 gm
22 karat gold rate in Mumbai — ₹146,144/10 gm
Silver 999 Fine rate in Mumbai — ₹267,350/1 kg
Gold Prices in New Delhi — 3 June
24 karat gold rate in New Delhi — ₹159,150/10 gm
22 karat gold rate in New Delhi — ₹145,888/10 gm
Silver 999 Fine rate in New Delhi — ₹266,890/1 kg
Gold Prices in Bengaluru — 3 June
24 karat gold rate in Bengaluru — ₹159,550/10 gm
22 karat gold rate in Bengaluru — ₹146,254/10 gm
Silver 999 Fine rate in Bengaluru — ₹267,560/1 kg
Gold Prices in Kolkata — 3 June
24 karat gold rate in Kolkata — ₹159,220/10 gm
22 karat gold rate in Kolkata — ₹145,952/10 gm
Silver 999 Fine rate in Kolkata — ₹266,990/1 kg
Gold Prices in Hyderabad — 3 June
24 karat gold rate in Hyderabad — ₹159,680/10 gm
22 karat gold rate in Hyderabad — ₹146,373/10 gm
Silver 999 Fine rate in Hyderabad — ₹267,770/1 kg
Gold Prices in Chennai — 3 June
24 karat gold rate in Chennai — ₹159,790/10 gm
22 karat gold rate in Chennai — ₹146,474/10 gm
Silver 999 Fine rate in Chennai — ₹267,890/1 kg