New Delhi. After enduring three consecutive days of weakness, gold and silver prices bounced back on Friday. With this rally, 24-carat gold pushed past Rs 1.47 lakh per 10 grams while silver climbed beyond Rs 2.42 lakh per kg. According to the India Bullion Jewellers Association (IBJA), 24-carat gold jumped by Rs 3,018 to reach Rs 1,47,800 per 10 grams, up from its earlier level of Rs 1,44,782 per 10 grams.
Likewise, 22-carat gold rose from Rs 1,32,620 per 10 grams to Rs 1,35,385 per 10 grams. The price of 18-carat gold also advanced to Rs 1,10,850 per 10 grams, compared with Rs 1,08,587 per 10 grams earlier. Silver kept pace with gold, surging by Rs 9,991 to Rs 2,42,582 per kg, against its previous level of Rs 2,32,591 per kg. It may be noted that the IBJA releases gold and silver rates twice a day.
Gold Shines Brighter in the Futures Market Too
Alongside the spot market, prices in the futures market also firmed up for both metals. At the time of writing, on the Multi Commodity Exchange (MCX) the gold contract for June 30, 2026 was up 0.49 percent at Rs 1,49,655, while the silver contract for June 24, 2026 was trading 0.70 percent higher at Rs 2,41,329.
International markets mirrored the trend, with both precious metals trading higher. On COMEX, gold strengthened 2.22 percent to USD 4,205 per ounce and silver gained 4.04 percent to reach USD 66.58 per ounce. This upswing is being largely attributed to growing hopes of a peace agreement between the United States and Iran.
News of the Iran War Winding Down Fuels the Rally
According to a report by Iran's state news agency Mehr, the proposed agreement between Tehran and Washington includes lifting sanctions, removing the US Navy's blockade of the Strait of Hormuz, and ending the encirclement of Iran by American forces. Meanwhile, US President Donald Trump said the deal with Iran to end the war is close to being finalised and could be signed in Europe over the weekend.
