Mumbai, 12 May. Gold and silver started with a rise on Tuesday and both the precious metals saw a rise of up to 1.33 percent. On Multi Commodity Exchange (MCX), the gold contract for June 05, 2026 opened at Rs 1,53,999 with a rise of Rs 336 or 0.22 percent compared to the previous closing of Rs 1,53,663. At 10 am, gold was at Rs 1,54,224, up Rs 561 or 0.37 per cent. In the trading so far, gold has touched a low of Rs 1,53,851 and a high of Rs 1,54,243. The silver contract for July 3, 2026 opened at Rs 2,80,229 with a rise of Rs 1,988 or 0.70 percent compared to the previous closing of Rs 2,78,311.
Till the time of writing the news, silver was up by Rs 3,695 or 1.33 percent at Rs 2,82,006. In the trading so far, silver has touched the highest level of Rs 2,82,755 and the lowest level of Rs 2,79,244. A rise in gold and silver was also seen in the international market. On Comex, gold was up 0.08 percent at $ 4,733 an ounce and silver was at $ 86 an ounce, up 1.05 percent. Global instability is believed to be one of the reasons for the strength in gold and silver.
Tension has increased again at the global level after US President Trump rejected Iran’s peace proposal. There is a dispute between the two countries over issues like nuclear program, American blockade and ballistic missile program. Due to global instability, gold has given a return of 47 percent in dollar terms in the last one year and 12 percent in the last six months. At the same time, silver has given a return of 166 percent in the last one year and more than 63 percent in the last six months.
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