Gold and Silver Prices in India on 3 June 2026: Both Metals Fall as Iranian Missile Attacks Spike Oil Prices; 24K Gold at ₹1,59,080 and Silver at ₹2,66,230/kg

Gold and silver prices in India moved lower on Wednesday, 3 June 2026, amid rising tensions in the Middle East. Concerns over potential disruptions to global oil supplies after Iranian missile attacks on regional targets pushed crude oil prices higher, increasing expectations that interest rates could remain elevated for longer. This weighed on precious metals, with MCX gold August futures trading at ₹1,59,342 per 10 grams and silver July futures falling ₹700 to ₹2,66,011 per kg in early trade.

Globally, spot gold slipped 0.2% to $4,476.50 per ounce, while COMEX silver declined 0.5% to $74.73 per ounce. Despite today's weakness, both metals have delivered strong returns over the past year. Gold prices are up more than 62% and silver prices have surged over 162% compared to June 2025 levels, highlighting their strong long-term performance.

Gold and Silver Prices in Top Indian Cities on 3 June 2026

Note: City-level bullion association rates may vary slightly from the national rate above based on local taxes and logistics costs. Always confirm with your local jeweller before purchase.

Gold Rate Analysis on 3 June 2026

Gold fell below key support levels on 3 June as renewed Middle East hostilities pushed crude oil prices higher by over 1% in early trade, stoking inflation concerns that weigh on rate-cut expectations and suppress gold demand from investors seeking yield-sensitive alternatives.

MCX Gold Futures - 3 June 2026

Gold Price Today vs Yesterday - 22 Carat

Gold Price Today vs Yesterday - 24 Carat

Gold Price - Recent Performance

Key Factors Affecting Gold Prices Today

• Iranian missile attacks: The US military's confirmation of Iranian missile strikes on Bahrain, Kuwait, and other Gulf targets — largely intercepted — has dramatically escalated Middle East tensions, amplifying oil price risks and complicating the rate-cut narrative that typically supports gold.
• Crude oil surge: Oil prices rose over 1% in early trade on 3 June, raising fears of sustained inflation. Higher oil prices feed into broader CPI data, making central banks more cautious about rate cuts, a headwind for gold.
• Strong US dollar: A resilient dollar continues to exert downward pressure on dollar-denominated gold, reducing its attractiveness for non-US investors and dampening international spot prices.
• US jobs data ahead: Markets are bracing for the US nonfarm payrolls report later this week. A strong jobs print could push back Fed rate-cut expectations further, adding more pressure on gold. Jigar Trivedi of IndusInd Securities flags that MCX gold could potentially decline toward ₹1,54,000 per 10g if global cues remain weak.
• Technical levels: Analyst Manoj Kumar Jain identifies MCX gold support at ₹1,58,500–₹1,57,700 and resistance at ₹1,60,000–₹1,60,650. International support is placed at $4,480–$4,434 per ounce, with resistance at $4,555–$4,592.

Silver Rate Analysis on 3 June 2026

Silver declined alongside gold on 3 June, with MCX July futures falling ₹700 to ₹2,66,011 per kg in early trade as the geopolitical risk premium on oil markets overshadowed industrial demand optimism. International spot silver dropped 0.5% to $74.73 per ounce. That said, silver's recent bull run remained intact — having already hit the ₹2,71,000 target set by analyst recommendations on Monday, silver is now in a corrective phase.

MCX Silver Futures - 3 June 2026

Silver Price Today vs Yesterday

Silver Price - Recent Performance

Key Factors Affecting Silver Prices Today

• Geopolitical oil risk: Rising crude oil prices driven by Iranian missile attacks feed directly into silver's correction, as higher energy costs raise industrial input costs and cloud the near-term demand outlook for silver in manufacturing.
• Profit booking after target hit: Silver had rallied sharply to the analyst target of ₹2,71,000 per kg on Tuesday, following the buy call at ₹2,64,000 issued on Monday. Today's decline reflects healthy profit-taking after a strong two-day run.
• Industrial demand underpinning: Despite short-term corrections, silver's structural demand from solar panel manufacturing, EVs, and semiconductor production continues to provide a strong medium-term floor.

Smart Buying Tips for Gold and Silver in June 2026

• Watch the jobs data: The US nonfarm payrolls report due later this week could be the single biggest near-term catalyst for both gold and silver. A weak reading could revive rate-cut bets and push gold sharply higher; a strong print could extend the current correction.
• Buy on dips, not panic: Both metals are in confirmed long-term uptrends. Today's correction, driven by geopolitical noise rather than a fundamental change in supply-demand, may offer better entry points for patient investors.
• Know your purity: Always look for the BIS hallmark (HUID stamp) when buying gold jewellery. 22K (91.6% pure) is standard for jewellery; 24K (99.9%) is best for investment bars and coins.
• Budget for full cost: Base bullion rates shown above do not include 3% GST or making charges. For jewellery, final prices typically run ₹300–₹700 per gram higher than the base rate.
• Silver's long-term story is intact: A 162% rise year-on-year and robust industrial demand mean today's dip may be a buying opportunity for those with a 12–24 month horizon.

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

24K gold at ₹1,56,510/10g & silver at ₹2,68,430/kg on 1 June 2026 in India. Gold slips on MCX amid Iran ceasefire uncertainty; silver surges on rupee rally. Check live 22K, 24K rates across Delhi, Mumbai, Chennai & more.

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FAQs

What is the gold rate today in India on 3 June 2026?

The 24K gold rate in India today is ₹1,59,080 per 10 grams and 22K gold is ₹1,45,823 per 10 grams, as of the morning bullion association update on 3 June 2026. MCX August gold futures are trading at ₹1,59,342 per 10g.

What is the silver price per kg in India on 3 June 2026?

Silver (999 fine) is priced at ₹2,66,230 per kg as of the 11:20 AM IST update on 3 June 2026. MCX July silver futures are at ₹2,66,011 per kg, down ₹700 from the previous session.

How much has gold risen in the past year in India?

24K gold in India has risen approximately 62.68% over the past year, from ₹97,790 per 10g in June 2025 to ₹1,59,080 today, making it one of the best-performing asset classes of the period.