Gold Rate Today rises on Economic Worries
The gold rate today on June 5, 2024, stood at ₹72,000 per 10 grams for June delivery contracts, as per the Multi Commodity Exchange (MCX), marking a rise of ₹212 or 0.30% compared to the previous close.
On Wednesday, the precious metal registers registers a minor rise in the price of Rs. 14 per 10 grams. MCX indicates stability after the recent ups and downs in the last week, which is due to various factors prevailing in the market such as US dollar rate against Indian Rupee.
Retail Gold Rate Today
For those looking to buy gold in the market currently, the rate including 3% Goods and Services Tax (GST) will be around ₹74,160 per 10 grams. Price may vary in each city depending on demand and supply and local traders.
The stable gold rates provide some respite to consumers looking to buy the yellow metal for investment or wedding purposes. However, experts advise tracking price movements carefully before making big-ticket purchases.
International gold rates have consolidated after a volatile period earlier this year due to changing economic conditions and fluctuations in the US dollar.
Note: It’s important to note that silver prices may vary across different cities depending on local demand-supply dynamics and premiums charged by traders.
The rise in the silver rate today can be attributed to concerns over slowing economic growth and persistent inflationary pressures, which have boosted the safe-haven appeal of precious metals.
