Gold and Silver Prices in India on 4 June 2026: Gold Recovers Despite US 10-Year Yield Hitting 4.49%; Silver Slides to ₹2,63,660/kg on Fed Rate Fears

Gold and silver prices in India moved in opposite directions on 4 June 2026. Gold recovered during afternoon trade, rising ₹660 (0.42%) to ₹1,59,220 per 10 grams on MCX. Despite the rebound, gold remains under pressure from strong US economic data and expectations that the US Federal Reserve could keep interest rates higher for longer.

Silver continued to weaken, falling 0.05% to ₹2,63,660 per kg based on bullion association rates, while MCX July silver futures traded at ₹2,62,779 per kg. The decline was driven by a stronger US dollar and India's new restrictions on silver imports, which have created uncertainty in the domestic market.

The contrasting performance highlights how global interest rate expectations are affecting precious metals differently. Even so, both metals have delivered strong returns over the past year, with 24K gold up 61.43% and silver soaring 159.25% compared to June 2025 levels.

Gold and Silver Prices in Top Indian Cities on 4 June 2026

(Source: Bullions.co.in, last updated 4 June 2026, 2:30 PM IST. Rates are bullion association prices inclusive of local levies. Final jewellery pricing will additionally include 3% GST and applicable making charges.)

Note: City-level rates may vary slightly from the national bullion association rate due to local taxes and logistics costs. Always confirm with your local jeweller before transacting.

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

24K gold at ₹1,59,080/10g & silver at ₹2,66,230/kg on 3 June 2026 in India. Both metals fall as Iranian missile attacks spike oil prices and stoke inflation fears. Check live 22K, 24K gold & silver rates across Delhi, Mumbai, Chennai & more.

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Gold Rate Analysis on 4 June 2026

Gold reversed part of the previous session's losses on 4 June, with MCX futures climbing back as bargain hunters stepped in near support levels. The recovery comes despite a hostile macro environment — surging US Treasury yields, a strong dollar, and rising odds of a Fed rate hike — suggesting that dip-buying interest and central bank demand are providing a meaningful floor.

MCX Gold Futures - 4 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

US 10-year Treasury yield at 4.49%: The yield spike — triggered by ADP data showing private sector employment rose by 122,000 jobs in May, the strongest gain since January 2025 — has made US bonds more attractive relative to gold, pressuring the yellow metal. Gold's intraday recovery suggests that dip buyers see the selloff as overdone.

85% probability of Fed rate hike: Markets are now pricing an 85% chance of a quarter-point Fed rate increase by year-end, following the strong ADP and JOLTS data (job openings rose to their highest since November 2024). Higher rates raise the opportunity cost of holding gold.

JOLTS data adds pressure: Job openings in the US hitting a near two-year high reinforces the "higher for longer" rate narrative, which has been the dominant force suppressing gold this week.

Central bank demand provides floor: Goldman Sachs has revised its central bank gold purchase forecast upward to approximately 60 tonnes per month through 2026. This structural buying is preventing a sharper decline. Global gold demand rose 2% in Q1 2026, boosted by robust investment inflows.

India's record investment demand: Investment demand for gold in India surged 52% year-on-year in Q1 2026, surpassing jewellery consumption for the first time on record — a remarkable structural shift that bodes well for long-term domestic demand.

Technical levels: Gold has immediate support at ₹1,57,850 per 10g on MCX, with a break lower targeting ₹1,57,175. Upside resistance sits at ₹1,59,470, and a sustained move above that could open the path toward ₹1,60,415.

Silver Rate Analysis on 4 June 2026

Silver extended its decline on 4 June, falling to ₹2,63,660 per kg on bullion association rates, with MCX July futures at ₹2,62,779 — down ₹179 (−0.07%). The previous session's close of ₹2,62,958 reflected a sharp 1.41% single-day drop, making silver the bigger underperformer relative to gold over the past 48 hours. The twin pressures of a strengthening dollar index (99.4, a near two-month high) and India's new restrictive silver import regulations have created an unusually complex backdrop for the metal.

MCX Silver Futures - 4 June 2026

Silver Price Today vs Yesterday

Silver Price - Recent Performance

Key Factors Affecting Silver Prices Today

Dollar index at 99.4: The greenback climbing to a near two-month high is the primary headwind for silver. A stronger dollar makes dollar-denominated commodities more expensive for non-US buyers, directly suppressing global silver demand and prices.

Fed rate hike expectations: The same labour market data battering gold is hitting silver harder, given silver's dual nature as both a precious and industrial metal. Rate hike fears reduce both investment appeal and industrial demand growth expectations simultaneously.

India's new silver import restrictions: In a major policy development, India has classified silver grains, powders, bars, and most semi-manufactured forms as restricted items, mandating prior authorisation from the DGFT. This follows India spending a record $12 billion on silver imports in FY2025-26. While constrained imports could eventually tighten domestic supply and lift local premiums, the near-term effect is adding uncertainty and caution among domestic traders.

China's record imports vs. India's retreat: China's silver imports surged to a record 836 metric tonnes in March 2026 — nearly three times the historical average — driven by retail investment and photovoltaic sector stockpiling ahead of tax changes. This Chinese demand has been partially offsetting weakness from the India side globally.

Technical levels: MCX silver has immediate support at ₹2,60,895 per kg, with further downside toward ₹2,58,830 if that breaks. Resistance is at ₹2,66,260, and a breakout above would target ₹2,69,560. Analysts advise waiting for corrective dips to stabilise before re-entering long positions.

Smart Buying Tips for Gold and Silver - 4 June 2026

Watch tonight's nonfarm payrolls: The US NFP report, due imminently, is the week's biggest market mover. A stronger-than-expected reading will likely push the dollar and yields higher, pressuring both metals further. A soft print could trigger a sharp recovery — especially in gold.

Gold's dip-buying opportunity: With MCX gold holding above its ₹1,57,850 support and recovering intraday, the current range of ₹1,58,000–₹1,59,500 could be an attractive accumulation zone for long-term investors betting on structural central bank demand.

Silver's import policy creates local premium risk: India's new DGFT restrictions on silver imports mean retail buyers may face higher local premiums even if international prices soften. Buying silver now, before supply tightens domestically, may prove advantageous.

Always check BIS hallmark: When buying gold jewellery, insist on a BIS hallmark (HUID stamp). 22K gold (91.6% pure) is standard for ornaments; 24K (99.9%) is ideal for investment coins and bars.

Factor in total cost: Add 3% GST and making charges (₹300–₹700 per gram typically) to the rates in this article to arrive at what you actually pay at the jeweller.

FAQs

What is the gold rate today in India on 4 June 2026?

The 24K gold rate in India today is ₹1,59,220 per 10 grams and 22K gold is ₹1,45,952 per 10 grams, as per the 2:30 PM IST bullion association update on 4 June 2026. MCX gold is trading at ₹1,59,109 per 10g, up +₹590 (+0.37%) from the previous close.

What is the silver price per kg in India on 4 June 2026?

Silver (999 fine) is priced at ₹2,63,660 per kg on 4 June 2026, down ₹120 from the previous session. MCX July silver futures are at ₹2,62,779 per kg. COMEX spot silver is at $73.44 per ounce.

Why is silver falling more than gold?

Silver is under greater pressure due to the strengthening dollar index (99.4), rising Fed rate hike odds, and India's new import restrictions on silver products. Silver is also more sensitive to industrial demand expectations, which suffer when rate hike fears rise.

What is India's new silver import rule in 2026?

India has placed silver grains, powders, bars, and most semi-manufactured forms on the restricted list, requiring importers to obtain prior authorisation from the DGFT. The policy follows record silver import spending of $12 billion in FY2025-26 and is aimed at reducing pressure on the Indian rupee.