Gold Price Today: The yellow metal rate on India's MCX fell on Monday, April 6, after US President Donald Trump said he would bring “Hell” to Iran if it didn't open the Strait of Hormuz.
At 9 am, the MCX gold June futures contract dipped 0.91% to Rs 1,48,309 per 10 grams, while the MCX silver May futures were down 1.18% to Rs 2,29,750 per kg.
Gold and silver prices ended the last week with solid gains despite sharp volatility, as geopolitical uncertainty surrounding the US-Iran conflict continued to drive safe-haven demand. On a weekly basis, US spot gold rose 4.06%, while spot silver gained 4.67%. In the domestic market, MCX gold rose 2.63% for the week and MCX silver gained 2.67%, reflecting continued investor interest in precious metals amid global uncertainty.
Bullion prices, however, witnessed sharp corrections before the long weekend. On April 2, MCX silver fell over 4.9% to close at Rs 2,27,694 per kg, while MCX gold closed 2.67% lower at Rs 1,46,091 per 10 grams.
Spot gold slipped 1.1% to $4,623.32 an ounce by 9:56 a.m. Singapore time. Silver declined 1.6% to $71.88, while platinum edged lower and palladium traded broadly flat, as per reports from Bloomberg.
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