Overview

• Spot gold rose to $3,369.98 per ounce on June 3, its highest since early May as the dollar index edged up from a six-week low.
• In India, 24-karat gold traded between ₹9,764 and ₹9,906 per gram in major cities while 10-gram bars fetched around ₹98,010.
• Silver surged past ₹101,300 per kilogram domestically and reached $34.40 per ounce globally as investors sought safe havens.
• President Trump’s decision to double steel and aluminium tariffs to 50% has intensified trade uncertainties and strengthened bullion’s appeal.
• Analysts at Motilal Oswal and other firms recommend a buy-on-dips strategy in light of ongoing geopolitical conflicts combined with a dovish Fed outlook.