Gold and Silver Prices in India on 1 June 2026: Gold Slips on Iran Ceasefire Uncertainty; Silver Surges Past ₹2.68 Lakh/kg as Rupee Crosses ₹95
Gold and silver prices in India on 1 June 2026 opened the month on a mixed but eventful note. Gold futures on MCX traded lower, pressured by a strengthening US dollar and market caution around a potential Iran ceasefire decision by US President Donald Trump. Silver, however, bucked the trend, climbing sharply as a surging rupee, which crossed the ₹95 mark against the dollar, boosted domestic bullion sentiment. The divergence between the two metals reflects the increasingly complex web of geopolitical, macroeconomic, and currency forces shaping India's bullion market heading into June 2026.
On a year-on-year basis, the rally in both metals has been extraordinary: 24K gold has surged over 66% compared to June 2025, while silver has nearly tripled, posting a staggering 175%+ gain over the same period.
Gold and Silver Prices in Top Indian Cities on 1 June 2026
| City | 22K Gold (10g) | 24K Gold (10g) | Silver (1 kg) |
|---|---|---|---|
| Delhi | ₹1,44,100 | ₹1,57,190 | ₹2,90,000 |
| Mumbai | ₹1,43,950 | ₹1,57,040 | ₹2,79,900 |
| Chennai | ₹1,46,300 | ₹1,59,600 | ₹2,89,900 |
| Hyderabad | ₹1,43,950 | ₹1,57,040 | ₹2,90,000 |
| Bengaluru | ₹1,43,950 | ₹1,57,040 | ₹2,79,900 |
| Kolkata | ₹1,43,950 | ₹1,57,040 | ₹2,85,000 |
| Pune | ₹1,43,950 | ₹1,57,040 | ₹2,85,000 |
| Ahmedabad | ₹1,44,000 | ₹1,57,090 | ₹2,79,900 |
| Lucknow | ₹1,44,100 | ₹1,57,190 | ₹2,90,000 |
| Jaipur | ₹1,44,000 | ₹1,57,090 | ₹2,85,000 |
Note: Chennai commands a slight premium over most cities due to higher local demand and state-level association pricing. Retail buyers should confirm live rates with their local jeweller before any purchase.
Gold Rate Analysis on 1 June 2026
Gold prices began June on a cautious note, with MCX June futures declining amid a combination of a stronger US dollar and subdued global cues. The market is firmly in a "wait and watch" mode around the Iran ceasefire extension, which has reduced gold's safe-haven buying in the near term.
MCX Gold Futures - 1 June 2026
| Parameter | Value |
|---|---|
| MCX Gold (June Futures) | ₹1,54,513 per 10g |
| Previous Close | ₹1,56,925 per 10g |
| Intraday High | ₹1,57,197 per 10g |
| Intraday Low | ₹1,55,323 per 10g |
| Change | −₹1,069 (−0.69%) |
| International Spot (COMEX) | $4,527.36 per ounce |
Gold Price Today vs Yesterday - 22 Carat
| Gram | Today | Yesterday (30 May) | Change |
|---|---|---|---|
| 1g | ₹14,337 | ₹14,395 | −₹58 |
| 10g | ₹1,43,370 | ₹1,43,950 | −₹580 |
| 100g | ₹14,33,700 | ₹14,39,500 | −₹5,800 |
Gold Price Today vs Yesterday - 24 Carat
| Gram | Today | Yesterday (30 May) | Change |
|---|---|---|---|
| 1g | ₹15,651 | ₹15,720 | −₹69 |
| 10g | ₹1,56,510 | ₹1,57,200 | −₹690 |
| 100g | ₹15,65,100 | ₹15,72,000 | −₹6,900 |
Gold Price - 1-Week Performance
| Period | 24K Gold (per 10g) | Change |
|---|---|---|
| Today (1 June 2026) | ₹1,56,510 | — |
| 1 Week Ago (25 May 2026) | ₹1,59,800 | −2.07% |
| 1 Month Ago (2 May 2026) | ₹1,51,820 | +3.09% |
| 1 Year Ago (1 June 2025) | ₹95,940 | +63.14% |
Key Factors Affecting Gold Prices Today
- Iran ceasefire uncertainty: Markets are waiting on President Trump's decision on extending the Iran truce. Persistent uncertainty is keeping safe-haven demand for gold in check even as geopolitical risk remains elevated.
- Strong US dollar: A firmer dollar is directly weighing on dollar-denominated gold, making it costlier for global buyers and suppressing international spot prices.
- Rising crude oil prices: A significant rise in crude prices has created an inflationary headwind that is adding complexity to central bank policy outlooks, indirectly capping gold's upside.
- Interest rate outlook: Investor attention on the RBI's MPC meeting, with the repo rate held near 5.25%, is tempering any aggressive buying in domestic gold.
- Retreat from all-time highs: Gold has been oscillating in a narrow range after posting record highs earlier this year, and technical analysts see support near ₹1,55,000 with resistance around ₹1,57,000 per 10g on MCX.
Silver Rate Analysis on 1 June 2026
Silver outperformed gold decisively on 1 June 2026, rising as the rupee surged past 95 against the US dollar — a sharp move that boosted domestic silver prices significantly. July 2026 MCX silver futures rose ₹1,095 (0.04%) to ₹2,68,093 per kg. International spot silver gained 0.4% to $75.54 per ounce, while COMEX silver futures held near $75.98 per ounce.
MCX Silver Futures - 1 June 2026
| Parameter | Value |
|---|---|
| MCX Silver (July Futures) | ₹2,68,093 per kg |
| Change | +₹1,095 (+0.04%) |
| International Spot (COMEX) | $75.98 per ounce |
| Intraday High | $76.57 per ounce |
Silver Price Today vs Yesterday
| Gram | Today | Yesterday (30 May) | Change |
|---|---|---|---|
| 1g | ₹268 | ₹267 | +₹1 |
| 10g | ₹2,684 | ₹2,677 | +₹7 |
| 100g | ₹26,843 | ₹26,779 | +₹64 |
| 1 kg | ₹2,68,430 | ₹2,67,790 | +₹640 |
Silver Price - Recent Performance
| Period | Silver (per kg) | Change |
|---|---|---|
| Today (1 June 2026) | ₹2,68,430 | — |
| 1 Week Ago (25 May 2026) | ₹2,77,130 | −3.14% |
| 1 Month Ago (2 May 2026) | ₹2,51,190 | +6.86% |
| 1 Year Ago (1 June 2025) | ₹97,300 | +175.88% |
Key Factors Affecting Silver Prices Today
- Rupee appreciation: The rupee crossing ₹95 per dollar is the primary domestic driver of silver's rise today, making imports structurally cheaper but pushing up domestic settlement prices as the currency dynamics play out.
- Industrial and solar demand: Silver's role in solar panel manufacturing and the semiconductor industry continues to provide a strong structural demand floor, distinguishing it from purely investment-driven precious metals.
- Ceasefire optimism: Any progress on the Iran-US ceasefire reduces global risk-off sentiment, which paradoxically supports silver (which benefits from both industrial optimism and reduced conflict-related supply disruptions).
- Precious metals divergence: Platinum rose 1% and palladium gained 1.3% on 1 June 2026, indicating broad strength in industrial metals even as gold softened — a trend silver is tracking.
Smart Buying Tips for Gold and Silver in June 2026
Before making a bullion purchase, keep these practical points in mind:
- Check your hallmark: Always buy BIS-hallmarked gold (HUID stamped). 22K (91.6% purity) is best for jewellery; 24K (99.9% pure) is ideal for investment bars and coins.
- Factor in the full cost: The rates above are base bullion prices. Add 3% GST plus making charges (typically ₹300–₹700 per gram for jewellery) to arrive at the actual retail price you will pay.
- Time your purchase: With MCX gold finding support near ₹1,55,000 and silver near ₹2,63,600, near-term dips could offer good entry points for long-term investors.
- Diversify your metals: The contrasting performance of gold and silver today, gold down, silver up, highlights the value of holding both metals as part of a diversified investment portfolio.
- Digital gold vs physical: For small investors, Sovereign Gold Bonds (SGBs) or digital gold platforms offer gold exposure without storage risks, while physical silver in coin or bar form remains popular for those seeking tangible assets.
Final Thoughts
1 June 2026 marks the start of what could be a pivotal month for Indian bullion markets. Gold's modest retreat, pressured by a hawkish dollar and geopolitical wait-and-watch sentiment around the Iran ceasefire, contrasts sharply with silver's resilience, which continues to benefit from currency moves and strong industrial demand fundamentals.
On a 12-month view, both metals remain extraordinary performers: gold up over 63% and silver up a remarkable 175% from June 2025 levels. As the month unfolds, investors should keep a close eye on the outcome of Iran ceasefire negotiations, the RBI's rate trajectory, and the rupee's movement, all of which will materially influence where gold and silver prices head next.
FAQs
What is the gold rate today in India on 1 June 2026?
The average 24K gold rate in India today is ₹1,56,510 per 10 grams, and 22K gold is trading at approximately ₹1,43,370 per 10 grams. City-wise rates vary due to local taxes and state-level bullion association pricing.
What is the silver price per kg in India today?
Silver (999 fine) is trading at approximately ₹2,68,430 per kg on 1 June 2026, up ₹640 from the previous session. MCX July silver futures are at ₹2,68,093 per kg.
Why did gold fall today?
Gold dipped today primarily due to a stronger US dollar, rising crude oil prices weighing on market sentiment, and investor caution ahead of US President Trump's expected decision on the Iran ceasefire extension. MCX June gold futures fell ₹1,069 to ₹1,54,513 per 10g.
Why did silver rise today?
Silver rose on 1 June 2026 as the Indian rupee surged past ₹95 against the US dollar, boosting domestic bullion prices. Broader strength in industrial precious metals, platinum and palladium also gained, provided additional support.
