Silver prices in Thursday’s session (June 5, 2025) zoomed to an all-time high in trade today to Rs 1,04,947 per 10 gm. Last at around 3:37 pm, silver prices were up 2.71 per cent or Rs 2,745 at Rs 1,04,125 per kg. Meanwhile, Gold July futures traded lower by 0.04 per cent or Rs 42 at Rs 97,220 per 10 gm.
Primarily, global uncertainty around the tariffs as well as technical cues have lifted silver to all-time high today.
Jateen Trivedi, VP Research Analyst – Commodity and Currency, LKP Securities remarks, “Silver also marked a historic move, breaching the $35 mark on Comex for the first time in 12 years. On MCX, silver surged over ₹3,000 to cross ₹1,04,000, highlighting strong investor interest in precious metals.”
He added that gold prices traded higher, supported by a weaker dollar and renewed safe-haven demand amid lingering tariff uncertainty and U.S. debt concerns. Comex gold scaled above $3395, while MCX gold gained ₹500 to trade above ₹98,450. The broader sentiment in the bullion space remains positive, driven by geopolitical tensions and ongoing imbalance in global trade and financial dynamics.
Going forward, gold is expected to trade in a positive range between ₹97,000 and ₹99,500, with sentiment hinging on upcoming U.S. economic data and geopolitical developments.
Rahul Kalantri, VP Commodities, Mehta Equities Ltd said, “Gold and silver prices rose on Wednesday as rising economic uncertainty and weak U.S. data—including a contraction in the services sector and the slowest private job growth since March 2023—fueled expectations of at least two Fed rate cuts this year. This boosted demand for non-yielding assets like gold. Nevertheless, Fed officials remain cautious about easing too quickly, particularly amid ongoing trade tensions marked by new tariffs and faltering U.S.-China talks. Investors now turn their attention to Friday’s nonfarm payroll report for further policy cues.”
International gold and silver price rate
Internationally, spot gold traded higher by 0.74 per cent at $3,398 per ounce, while gold futures were up 0.68 per cent at $3,422 per ounce. Meanwhile, spot silver internationally was up 3.4 per cent at $35.73, while silver futures climbed 3.77 per cent to $35.97 per ounce.
Support and resistance of gold
Gold has support at $3340-3315 while resistance at $3395-3420. Silver has support at $34.25-33.90 while resistance is at $34.70-34.95. In INR gold has support at Rs97,120-96,800 while resistance at Rs97,750-97,940. Silver has support at Rs100,160-99,350 while resistance at Rs1,01,950-1,02,750.
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