Gold prices on June 2: Gold rates above ₹96,500/10 gram as Donald Trump plan new tariffs; check the latest price in your city

Domestic gold prices started the week on a positive note, rebounding from last week's fall. As of 11:30 am, the 24K gold rate in the local market stood at ₹96,580 per 10 gram, up ₹640/10 gram compared to yesterday’s closing, while 22K gold was at ₹88,532 per 10 gram.

The yellow metal rose today after US President Donald Trump on Friday announced he would double import tariffs on steel and aluminium to 50% starting from June 4. Investors feared this decision would trigger a fresh trade war, resulting in higher demand for safe-haven assets like gold.

Besides this, an escalation in the Russia-Ukraine tensions after Ukraine launched drone attacks on Russian airbases on Sunday damaged more than 40 aircraft, also creating panic among investors. A fall in the US dollar index also supported the gold prices.

In New Delhi markets, the 24K gold rate stood at ₹96,280 per 10 gram and 22K gold at ₹88,257 per 10 gram.

Gold Price Today in Major Cities:

*Gold rate as of 11:30 am

MCX Gold futures are also trading higher. As of 11:30 am, the MCX Gold June future is up 0.7% at ₹96,575 per 10 gram, with a day high of ₹96,605 and day low of ₹96,101. In the US markets, Gold futures for June delivery were trading over 1% or $35 higher at $3,350 an ounce.

Silver Price Today in India (June 2, 2025)

Silver prices are also trading higher in the local market, replicating the rise witnessed in other precious metals. As of 11:30 am, silver prices are around ₹97,800 per kg, up 0.5%. Meanwhile, MCX Silver for July delivery trades 0.48% higher at ₹97,477 per kg as of 11:30 am, while international silver prices trade around $33.3 per troy ounce, up 0.7%.

Silver Price Today in Major Cities:

*Silver rate as of 11:30 am