Gold Reclaims Rs 1 Lakh Mark: Check 24 Carat Rates In Delhi, Mumbai, Other Cities On June 5
The price of silver on Thursday jumped by Rs 2,000 to Rs 1,04,000 per kg in Mumbai, according to goodreturns.in .
In the international market, spot gold was steady at $3,372.82 an ounce, as of 0210 GMT. U.S. gold futures edged down 0.1% to $3,395.50.
Rahul Kalantri, vice-president (commodities) of Mehta Equities Ltd, said, 'Gold and silver prices rose on Wednesday as rising economic uncertainty and weak US data, including a contraction in the services sector and the slowest private job growth since March 2023, fuelled expectations of at least two Fed rate cuts this year. This boosted demand for non-yielding assets like gold."
Nevertheless, Fed officials remain cautious about easing too quickly, particularly amid ongoing trade tensions marked by new tariffs and faltering US-China talks. Investors now turn their attention to Friday's nonfarm payroll report for further policy cues, he added.
'Gold May Fall 12-15% In Two Months'
According to a report by brokerage house Quant Mutual Fund, after an impressive upside move in the past few months, gold prices might fall by 12-15% in the next two months.
'Gold has peaked out and has the potential to correct by 12-15% in dollar terms over the next two months. However, our medium-term and long-term views are equally constructive, and we reiterate that a meaningful percentage of your portfolio should be dedicated towards precious metals," Quant Mutual Fund stated in its latest 'Factsheet for June 2025'.
What Factors Affect Gold Prices In India?
International market rates, import duties, taxes, and fluctuations in exchange rates primarily influence gold prices in India. Together, these factors determine the daily gold rates across the country.
In India, gold is deeply cultural and financial. It is a preferred investment option and is key to celebrations, particularly weddings and festivals.
With constantly changing market conditions, investors and traders monitor fluctuations closely. Staying updated is crucial for effectively navigating dynamic trends.
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