Mumbai: Gold and silver were trading in a limited range on Tuesday amid tensions in the Middle East and both the precious metals were in the red with slight losses. On the Multi Commodity Exchange (MCX), gold contract for June 5, 2026 was at Rs 1,49,325, down Rs 14 or 0.01 per cent at 9:50 am.
In the trading so far, gold has touched a low of Rs 1,49,325 and a high of Rs 1,49,950. Silver contract for July 3, 2026 was down by Rs 673 or 0.28 per cent at Rs 2,43,222. In the trading so far, silver has touched a low of Rs 2,42,907 and a high of Rs 2,43,927.
Mixed trading is taking place in gold and silver in the international markets. Till the time of writing the news, gold on Comex was up by 0.14 percent at $ 4,540 an ounce and silver was at $ 73.21 an ounce with a weakness of 0.42 percent.
Tension is continuously increasing in the Middle East. US President Donald Trump has claimed that his military has sunk 7 small Iranian ships. Trump said that this attack was carried out when these small ships were attacking ships passing through Hormuz. Although Iran has not responded, it claims that it has control over Hormuz.
On the other hand, the rupee is continuously weakening against the dollar amid global instability. According to Intercontinental Exchange (ICE) data, the rupee opened weak against the dollar and then witnessed further decline. At present it has closed at 95.33 with a weakness of 26 paise.
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