Gold Rates & Silver Rates Today (06/07/2026) LIVE: MCX Gold Struggles At Rs 1,46,600, Silver Price Crashes Rs 1,900 As Dollar Reclaims 101; Know 24K, 22K, 18K Gold Prices

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Gold rates and silver rates in India are trading cautiously. Ahead of the evening session, MCX gold and silver continued to be under pressure but the yellow metal is underperforming. MCX gold extended its losses to decline by Rs 758 or 0.51% to close at Rs 1,46,620 per 10 grams during the day-time session. On the other hand, MCX silver recovered some losses to close around Rs 2,36,486 per 1Kg, which is currently down by Rs 923 or 0.4%. In the early trade, silver has crashed almost Rs 1,500 and touched an intraday low of Rs 2,35,500.

Spot gold which surged nearly 0.6% and traded near $4,195 per ounce, is now down by 0.2% to trade around $4,165 per ounce. While Spot silver erased its $62 per ounce mark and is currently down by 1%.

The performance can also be attributed to US dollar which gained momentum and is closer to 101 mark. Currently, the DXY is around 100.97 against a basket of currencies.

Nonetheless, last week, gold and silver recorded strong gains after weather-than-expected US jobs data and lower crude oil prices toned down the expectations of rate hikes in 2026. As per CME FedWatch tool, the probability of a rate hike has dipped to 50% from the earlier 66% probability.

Meanwhile, crude oil prices were also in the red amidst easing tensions between US-Iran and surge of energy flows from Strait of Hormuz. US WTI Crude is down 0.6% to trade around $68.3 per barrel and Brent Crude slipped by 0.60% to trade around $71.67 per barrel.

Oil prices edged lower as recovering energy flows through the Strait of Hormuz and the prospect of increased OPEC+ supply fueled concerns about a potential glut. That has helped ease inflationary pressures that had previously heightened fears of further rate hikes and weighed on non-yielding gold. Meanwhile, data released last week showed US nonfarm payrolls increased by just 57,000 in June, the smallest gain in four months and well below forecasts of 110,000, prompting traders to reduce their bets on a September rate hike, as per Trading Economics.

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