Gold & Silver Today: Prices Dip as Geopolitical Tensions Ease and Trump's Tariff Deadline Looms

For two consecutive days, the glitter of gold has dulled slightly, with prices experiencing a dip on June 28th. This shift comes as a sigh of relief washes over the global markets, thanks to reduced tensions between Israel and Iran, coupled with a slight firming of the US dollar. However, all eyes remain glued to the calendar as US President Donald Trump's reciprocal tariff deadline of July 9th rapidly approaches, promising to once again stir the waters for precious metal investors.

Gold's Enduring Appeal: A 20-Year Golden Streak

Despite recent fluctuations, gold's long-term performance paints a dazzling picture. Over the past two decades, gold prices have soared by an astounding 1,200%, rocketing from ₹7,638 in 2005 to surpass ₹1,00,000 by June 2025. This remarkable journey has seen gold deliver positive returns in 16 of those 20 years. This year alone, gold has already gained an impressive 31%, consistently hitting new record highs. It's no wonder that both gold and silver continue to be the go-to safe haven assets for investors seeking to shield their portfolios from volatile markets and the ever-present specter of geopolitical unrest.

Silver Shines Bright: Holding Steady Above ₹1 Lakh

Not to be outdone, silver prices have demonstrated remarkable resilience. For the past three weeks, the white metal has stubbornly held its ground above the significant ₹1 lakh/kg mark. Looking back over the last two decades, silver has also delivered substantial returns, climbing a solid 668.84%.

Today's Rates: A Snapshot of Gold and Silver Across India

As of 8:21 AM on June 28th, the MCX gold index stood at ₹95,524 per 10 grams. Meanwhile, MCX silver prices were recorded at ₹1,05,300 per kilogram.

For those eyeing physical gold, data from the Indian Bullion Association (IBA) at 8:25 AM on June 28th showed 24-carat gold priced at ₹95,770 per 10 grams, while 22-carat gold was at ₹87,789 per 10 grams. For silver, the Silver 999 Fine rate, as per the IBA, was ₹1,05,850 per kilogram.

Before you make your purchase, a crucial tip for retail customers: remember that jewelers often add making charges, taxes, and GST to the final bill, which will influence the price you pay.

Here's a detailed look at today's gold and silver prices across major Indian cities:

Gold and Silver Prices in Mumbai — June 28

Gold bullion rates: ₹95,600/10 gm

MCX Gold rate: ₹95,524/10 gm

Silver bullion rate: ₹1,05,660/kg

MCX Silver 999 rate: ₹1,05,300/kg

Gold and Silver Prices in Delhi — June 28

Gold bullion rates: ₹95,440/10 gm

MCX Gold rate: ₹95,524/10 gm

Silver bullion rate: ₹1,05,470/kg

MCX Silver 999 rate: ₹1,05,300/kg

Gold and Silver Prices in Kolkata — June 28

Gold bullion rates: ₹95,470/10 gm

MCX Gold rate: ₹95,524/10 gm

Silver bullion rate: ₹1,05,520/kg

MCX Silver 999 rate: ₹1,05,300/kg

Gold and Silver Prices in Bengaluru — June 28

Gold bullion rates: ₹95,680/10 gm

MCX Gold rate: ₹95,524/10 gm

Silver bullion rate: ₹1,05,740/kg

MCX Silver 999 rate: ₹1,05,300/kg

Gold and Silver Prices in Hyderabad — June 28

Gold bullion rates: ₹95,750/10 gm

MCX Gold rate: ₹95,524/10 gm

Silver bullion rate: ₹1,05,820/kg

MCX Silver 999 rate: ₹1,05,300/kg

Gold and Silver Prices in Chennai — June 28

Gold bullion rates: ₹95,880/10 gm

MCX Gold rate: ₹95,524/10 gm

Silver bullion rate: ₹1,05,960/kg

MCX Silver 999 rate: ₹1,05,300/kg