Mumbai, May 6: Gold and silver prices saw a significant rise on Wednesday, with both precious metals climbing nearly 2.70% due to a weakening dollar index. On the Multi Commodity Exchange (MCX), the June 5, 2026 contract for gold opened at ₹152,000, reflecting an increase of ₹2,247 or 1.5% from the previous closing of ₹149,753.
As of 9:47 AM, gold was trading at ₹151,838, up by ₹2,085 or 1.39%. During the trading session, gold reached a high of ₹152,182 and a low of ₹151,653.
Meanwhile, the July 3, 2026 contract for silver opened at ₹249,316, marking a jump of ₹5,000 or 2.04% from its last closing of ₹244,316. At the time of reporting, silver was priced at ₹250,900, up by ₹6,584 or 2.69%, with a trading range of ₹249,316 to ₹252,000.
Internationally, both gold and silver are experiencing upward trends, with gold trading at $4,656 per ounce, up by 1.92%, and silver at $76.12 per ounce, up by 3.45%. The weakness in the dollar index, which fell by 0.17% to 98.14, is believed to be a key factor driving the rise in gold and silver prices.
Typically, a weaker dollar index leads to stronger prices for precious metals like gold and silver. The depreciation of the dollar index has also resulted in a strengthening of the Indian rupee, which was trading at ₹95.07 against the dollar, appreciating by about 11 paise or 0.12%.
My name is Ganpat Singh Choughan. I am an experienced content writer with 8 years of expertise in the field. Currently, I contribute to Udaipur Kiran & Daily Kiran, creating engaging and informative content across a variety of categories including technology, health, travel, education, and automobiles. My goal is to deliver accurate, insightful, and captivating information through my words to help readers stay informed and empowered.
