Gold Rate Today In India Slip Again on June 5: 24K, 22k,18k Gold Drops for 2nd Day as RBI Flags Inflation Risk

Gold prices in India fell for the second consecutive day on Friday, with the 24 karat gold rate dropping by Rs 380 per 10 grams and 22 karat gold declining by Rs.350 per 10 grams. Today's gold price in Bangalore, Mumbai, Delhi,Chennai and other major cities in India are impacted by the weakness in global gold markets, where spot gold slipped to around $4,442 per ounce due to fading hopes of a US-Iran peace deal and rising fears of an interest rate hike by the US Federal Reserve in its upcoming meeting from June 16 -17.

Another major development in the domestic market came after the Reserve Bank of India today kept its benchmark repo rate unchanged at 5.25%, matching the market expectations, but struck a cautious tone on inflation due to elevated crude oil prices, supply chain disruptions, and the risk of a weak monsoon. Governor Sanjay Malhotra warned that inflation is expected to touch 5.9% in the third quarter.

Gold Rate in India Today June 5th

As of Friday, June 5, the 22-carat gold rate today in India slipped by Rs. 350 per 10 grams to cost Rs.1,42,750 per 10 grams. 24-carat gold prices dropped by Rs. 380 today and are currently at Rs. 1,55,730 per 10 grams. Similarly, the 18-carat gold rate today retails at Rs. 1,16,800, which dropped by Rs. 280

Similarly, 100 grams of 22-carat gold stands at Rs. 15,57,300 after decreasing by Rs.3500. While the 24-carat gold price in India per 100 grams is now retailing at Rs. 14,27,500, which dropped by Rs. 3800.

MCX Gold and Silver Futures Prices

On the Multi Commodity Exchange (MCX), gold futures slated to mature on August 5, 2026, also experienced a decline today, trading at Rs.1,58,000 after slipping 0.97% at the time of writing. Similarly, silver futures, with an expiry date of July 3rd, dropped today by 2.03% to trade at Rs 2,59,420 at around 11:20 am.

Gold Rates Today City-Wise list on June 5th

Just like gold rates in India, other major cities including Chennai, Mumbai, Bangalore, and Hyderabad dropped sharply. Here's the latest city-wise update on 22-carat and 24-carat gold rates on June 5th.

In Chennai, the 24-carat gold rate stands at Rs 1,57,960 per 10 grams, while the 22-carat gold price in Chennai is Rs. 1,44,300 per 10 grams.

In Bangalore, the gold rate for 24-carat is Rs. 1,55,730 per 10 grams, and the 22-carat gold rate in Bangalore is Rs.1,42,750 per 10 grams.

In Hyderabad, the 24K gold price is Rs. 1,55,730 per 10 grams, and the 22K gold rate in Hyderabad is Rs.1,42,750 per 10 grams.

In Mumbai, the 22-carat gold rate is Rs.1,42,750 per 10 grams, while the 24-carat gold price in Mumbai remains at Rs. 1,55,730 per 10 grams.

Silver Price Movement in India

After Six days of no major movement, Silver prices in India today finally declined. So 1kg of silver in India now costs Rs. 2,75,000 after dropping by Rs.5000, while 100g of silver in India costs Rs. 27,500 which slipped by Rs, 500.

Spot Gold Prices + Spot Silver Price Today

According to the latest report by Reuters, "Spot gold was down 0.7% at $4,442.94 per ounce, as of 0402 GMT. ​It has fallen about 2% for the week so far. Spot silver ​fell 1.6% to $72.66 per ounce."

"Today, gold slipped below $4,450 and is heading for a weekly decline as the U.S.-Iran negotiations and elevated energy-market risks support higher-rate expectations. Investors now await the U.S. NFP report, with weaker data likely supportive and stronger figures potentially weighing on bullion prices," as per Kotak Neo Commodity Report.

"Spot gold eased toward $4,536/oz after the previous session's rally, as renewed US action dampened optimism around a potential US-Iran agreement and kept inflation concerns elevated despite ongoing diplomatic progress.US-Iran negotiations are reportedly centered on a temporary ceasefire extension that could pave the way for easing shipping disruptions in the Strait of Hormuz." as per Kotak Commodities Report.

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