Gold Prices Ease Further, Silver Slips After Days of Stability; Check Latest Rates Across Major Cities

Gold and silver prices witnessed a mild decline in the domestic market on June 3, offering some relief to buyers planning jewellery purchases or investments. After remaining largely stable for a day, gold prices moved lower once again, while silver also weakened following several days of unchanged rates.

Market analysts attribute the softness in precious metals to ongoing geopolitical developments, shifting investor sentiment, and uncertainty surrounding industrial demand. For consumers looking to buy gold or silver, keeping track of the latest rates has become increasingly important as prices continue to fluctuate.

Gold Prices Fall in Key Indian Markets

Gold prices edged lower across several major cities today. The decline comes after a significant correction earlier this week, when gold rates had already registered a sharp drop.

In the national capital, the price of 24-carat gold declined by ₹10 per 10 grams, while 22-carat gold also slipped by the same amount. Although the decline is modest, it reflects the cautious mood prevailing in the bullion market.

Experts suggest that global geopolitical tensions and movements in international bullion markets have contributed to the latest price adjustments.

Latest Gold Rates in Major Indian Cities

The table below shows the latest prices of 24-carat, 22-carat, and 18-carat gold for 10 grams across key cities:

Among the cities listed, Chennai continues to record the highest gold prices, while Mumbai, Kolkata, Bengaluru, and Hyderabad remain among the relatively lower-priced markets.

Silver Prices Decline After Extended Stability

Silver prices also softened after remaining unchanged for several sessions. Prior to this correction, silver had experienced a strong upward move toward the end of May, supported by industrial demand and global market trends.

On June 3, silver prices in Delhi fell by ₹100 per kilogram. While the drop is relatively small, it marks the end of a multi-day period of price stability.

Latest Silver Rates in Major Metro Cities

Chennai remains the most expensive market for silver among India's major metropolitan cities, trading ₹10,000 higher per kilogram than Delhi, Mumbai, and Kolkata.

New Silver Import Rules May Influence Future Prices

Apart from today's price movement, the silver market is also closely watching recent policy changes introduced by the government.

Authorities have tightened import regulations for silver with purity levels of 99.9% and above. Under the revised framework, imports of certain categories of silver—including silver grains, powders, semi-finished products, and silver coated with precious metals—will require prior approval from the Directorate General of Foreign Trade (DGFT).

The government aims to monitor silver imports more closely as inbound shipments have surged significantly over the past year. Industry experts believe that stricter import controls could influence domestic supply levels and potentially affect future silver prices if approvals become restricted or delayed.

What Buyers Should Consider Before Purchasing

For jewellery buyers and investors, the recent decline in prices may present an opportunity to enter the market. However, precious metal prices remain highly sensitive to global developments, currency movements, central bank policies, and changes in domestic demand.

Those planning to purchase gold or silver should compare local rates, check making charges in case of jewellery purchases, and monitor market trends before making a decision.

Market Outlook

While today's decline offers some relief to consumers, analysts expect precious metals to remain volatile in the near term. Global economic uncertainty, geopolitical developments, and changes in import regulations could continue to influence both gold and silver prices.

Investors and buyers should therefore stay updated on daily market movements, as even small changes in rates can have a meaningful impact on high-value purchases and investment decisions.