Gold, silver prices on June 1: Why are gold, silver rates falling, What we know so far

The price of one gram of 22-carat gold increased slightly on June 1, rising to Rs 5,586 from Rs 5,585 yesterday, according to data provided by Goodreturns. 

The prices of eight grams and 10 grams of 22K gold also increased by Rs 8 and Rs 10 to Rs 44,688 and Rs 55,860 from the previous day's figures, respectively.

On June 1, the cost of 24-carat gold increased as well. One gram of this metal is now marketed at Rs 6,094 while eight and ten grams are now valued at Rs 48,752 and Rs 60,940, respectively.

Meanwhile, the price of silver witnessed a decline from the previous day's figures. A gram of silver is priced at Rs 72.80, down by Rs 4, while, the price of eight grams of silver stood at Rs 582.40. 

Ten grams of silver is available at Rs 728, down by Rs 40, while one kg of silver will cost Rs 72,800, according to Goodreturns.

In the previous month, the 22k gold achieved the highest rate of Rs 57,200 on May 5, while 24k of gold was priced at Rs 62,400 on the same date. 

However, the lowest rate in the same month for 22k gold was recorded at Rs 55,450 on May 30 while 24k gold recorded the price at Rs 60,490 on the same date.

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