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Gold, Silver Rates Today (05/06/2026) LIVE: MCX Gold Falls Rs 1,600, Silver Drops Rs 5,700 On Strong Dollar

Gold rates and silver rates in India dropped sharply on June 5, 2026, amidst weak global cues. MCX gold dropped nearly 1% to trade around Rs 1,58,300 per 10 grams, while MCX silver nosedived by nearly 1.5% to trade around Rs 2.60 lakh per 1Kg. Other metals like copper also slipped by 1%.

On the global front, spot gold slipped by nearly 1% to trade below $4,450 per ounce and spot silver crashed nearly 2% to trade below $73 per ounce. The ongoing certainty has kept inflationary pressures heightened.

President Donald Trump said peace negotiations were approaching their final stage and is reportedly reluctant to re-enter full-scale war with Iran despite recent tensions. However, Iranian Foreign Minister Abbas Araghchi said there has been no meaningful progress in the discussions. Iran-backed Hezbollah also rejected a US-mediated ceasefire proposal between Israel and Lebanon, adding to doubts over efforts to de-escalate regional hostilities. The prolonged conflict and continued disruptions to energy flows through the Strait of Hormuz kept oil prices elevated, reinforcing concerns about inflation and the risk of higher interest rates, as per Trading Economics.

Indian precious metals are also in focus due to the RBI policy outcomes scheduled on June 5, 2026. Market participants are predicting pause in policy rates.

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