Gold prices on the Comex market jumped $76.3 per troy ounce to reach $4,543, while silver futures rose $1.7 to $75.33 on June 4. In India, the near-month gold futures contract on MCX increased by ₹1,900 per 10 grams to hit ₹1,60,408, and silver futures surged ₹4,842 per kilogram to ₹2,67,800, tracking gains in the international market, according to livemint.com.
The price rally was driven by renewed buying interest amid optimism over a ceasefire in the Middle East, which revived demand for precious metals. The upward momentum in global markets influenced domestic futures, with investors seeking safe-haven assets amid geopolitical developments. Bloomberg data cited by livemint.com showed that both gold and silver futures on MCX mirrored the international gains on the same day.
This surge in precious metals prices reflects the sensitivity of global commodity markets to geopolitical tensions and ceasefire prospects. Gold and silver are traditionally viewed as safe-haven assets during periods of uncertainty, and their price movements often signal shifts in investor sentiment. The recent price jump is one of the largest daily gains for these metals in 2026, underscoring the impact of geopolitical events on commodity trading.
The next key data point for market participants will be the ongoing developments in the Middle East ceasefire talks, which will influence precious metals prices further. The MCX gold futures contract closing at ₹1,60,408 on June 4 marks a significant benchmark for traders assessing the impact of geopolitical factors on Indian commodity markets.