Gold Rate Today on 4 June 2026: MCX Gold Climbs Above Rs 1.59 Lakh Per 10 Grams as Dollar Weakens and Crude Retreats on US-Iran Peace Deal Optimism

MCX gold on 4 June 2026 has recovered above the Rs 1.59 lakh mark on the Multi Commodity Exchange (MCX), with June futures advancing 0.42% to Rs 1,59,339 per 10 grams, reversing yesterday’s decline when ceasefire hopes between the US and Iran dimmed and pushed the gold rate today below Rs 1.59 lakh on MCX. Today’s recovery has two concurrent tailwinds: a weakening US dollar and a retreat in crude oil prices, with Brent crude falling over 5.47% to $97.88 per barrel as markets price in growing optimism around a potential US-Iran peace agreement. In international markets, spot gold is trading around $4,475-4,485 per ounce today.

City-wise prices on June 4 reflect this MCX recovery: 24K gold stands at Rs 1,59,530 per 10 grams in Delhi, Rs 1,59,380 in Mumbai and Kolkata, and Rs 1,61,240 in Chennai. MCX gold remains near record territory, having surged over 66% year-on-year since June 2025 as the US-Iran conflict drove safe-haven demand across global bullion markets. Gold has been one of the best-performing assets of 2026, and today’s prices continue to reflect the extraordinary macro environment investors are navigating.

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Central banks globally have been net buyers of gold for the third consecutive year. According to World Gold Council estimates, central banks purchased approximately 1,000 tonnes of gold in 2025, with India’s RBI among active buyers. This structural central bank demand underpins prices at current levels and provides a long-term support that is independent of short-term geopolitical news flow. For retail investors in India, gold and gold ETFs remain the most accessible forms of gold investment, with gold mutual funds and sovereign gold bonds providing tax-efficient alternatives to physical gold. The gold savings scheme at jewellers, which allows consumers to lock in current rates with small monthly investments, has seen increased interest as consumers seek to hedge future jewellery purchases at current elevated price levels.

Gold Rate Today: MCX Prices and City-Wise Rates on 4 June 2026

Metal / Purity	Price	Change	Exchange / Market
MCX Gold June Futures	Rs 1,59,339 per 10g	+0.42%	MCX
MCX Gold August Futures (prev settle)	Rs 1,59,306 per 10g	-0.03% (June 3)	MCX
Spot Gold (International)	~$4,475-4,485 per oz	Recovering	COMEX / Spot
24K Gold Rate Today — Delhi	Rs 1,59,530 per 10g	Rising	Retail / Jewellers
24K Gold Rate Today — Mumbai	Rs 1,59,380 per 10g	Rising	Retail / Jewellers
24K Gold Rate Today — Kolkata	Rs 1,59,380 per 10g	Rising	Retail / Jewellers
24K Gold Rate Today — Chennai	Rs 1,61,240 per 10g	Rising	Retail / Jewellers
22K Gold Rate Today	Rs 1,46,100 per 10g	+Rs 30	Retail / Jewellers
MCX Gold Support Level	Rs 1,57,700 / Rs 1,56,650 per 10g	–	Technical
MCX Gold Resistance Level	Rs 1,59,850 / Rs 1,61,100 per 10g	–	Technical
Brent Crude	$97.88 per barrel	-5.47%	ICE
USD/INR	Rs 95.70	+1 paise	Forex

Why Is the Gold Rate Today Rising? Three Key Drivers

The gold rate today on 4 June 2026 is advancing for three specific reasons. First, optimism around a potential US-Iran peace agreement is the primary macro catalyst: reports of diplomatic channels opening between Washington and Tehran have caused crude oil prices to retreat sharply, with Brent crude falling over 5.47% to $97.88 per barrel. When oil prices fall on geopolitical risk reduction, the inflationary pressure on economies that had driven gold’s safe-haven demand eases, and gold typically corrects. However, this session the gold rate today is rising rather than falling, because the dollar is simultaneously weakening on the same peace deal hopes, and a weaker dollar is more powerful a support for the gold rate today than reduced geopolitical risk is a headwind.

Second, the gold rate today is supported by a weakening US dollar. The dollar index is declining on the US-Iran peace optimism, as risk sentiment improves and investors reduce their safe-haven dollar allocations. A weaker dollar makes dollar-denominated gold cheaper for international buyers, boosting global demand and lifting the gold rate today. Third, the gold rate today has a domestic currency tailwind: the Indian rupee opened at Rs 95.70 per dollar on June 4, 1 paise stronger than the previous session’s close of Rs 95.71, providing modest support to the domestic gold rate today.

Gold Rate Today vs Yesterday: What Changed on June 3?

To understand today’s price, it is important to note what happened on June 3. On June 3, 2026, gold dropped below Rs 1.59 lakh on MCX as ceasefire hope between the US and Iran dimmed amid reports of renewed tensions. MCX gold fell approximately 1%, with June 5 expiry contracts struggling around Rs 1,54,500 per 10 grams, while August futures settled at Rs 1,59,306. Global spot gold had erased the $4,500 per ounce mark, trading between $4,475-4,485. June 4 represents a partial recovery: MCX June futures are at Rs 1,59,339, back above Rs 1.59 lakh, as fresh US-Iran peace deal signals gave MCX gold a positive session.

Commodity analysts note that the US-Iran conflict has created an asymmetric market dynamic for MCX gold since late February 2026. On days when ceasefire hopes improve, crude oil and the dollar both fall, creating a mixed signal for gold: lower inflation expectations from cheaper oil work against safe-haven demand, but a weaker dollar simultaneously boosts gold demand from international buyers. In most such sessions since the conflict began, the dollar-weakness channel has dominated, keeping MCX gold supported near the Rs 1.55-1.65 lakh range. The June 4 session is following this pattern: despite reduced geopolitical fear, the weaker dollar is the dominant driver of the MCX price movement today.

Gold Rate Today: City-Wise 24K and 22K Prices Explained

The gold rate today varies across Indian cities due to local taxes, transportation costs, state government levies, and local jewellers’ association pricing. Chennai consistently commands the highest gold rate today among major cities due to strong local demand and association-based pricing. The gold rate today in Delhi carries state-specific levies from Haryana and Delhi NCR market dynamics. Mumbai and Kolkata track closer to the base rate since they are major commercial hubs with competitive jewellers. Note that the gold rate as quoted here does not include 3% GST, TCS on purchases above Rs 2 lakh, or making charges, all of which add to the final price a consumer pays.

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India’s jewellery sector, the second-largest consumer of gold globally, is also watching the price trajectory closely. Wedding season demand, which is typically strong in the June-November period in many parts of India, provides seasonal support to retail gold prices. However, at Rs 1.59 lakh per 10 grams, the elevated price level has suppressed discretionary jewellery buying relative to historical norms. Jewellers in tier 2 and tier 3 cities report cautious buying behaviour from consumers, with many opting for lower-weight pieces or deferring purchases. This demand dampening is one reason that MCX prices have not broken decisively above Rs 1.62-1.65 lakh despite elevated geopolitical risk. The RBI MPC meeting outcome on June 5 will also influence import duty dynamics and the rupee outlook, which in turn will set the price floor for domestic bullion through the rest of June.

Conclusion

The gold rate today on 4 June 2026 is recovering above Rs 1.59 lakh per 10 grams on MCX (+0.42% to Rs 1,59,339), driven by US dollar weakness and crude oil price retreat on US-Iran peace deal optimism. The 24K gold rate today in Delhi is Rs 1,59,530 and in Mumbai Rs 1,59,380. Key levels to watch: Rs 1,59,850 as immediate resistance and Rs 1,57,700 as immediate support. The gold rate today is near all-time highs, having surged 66%+ year-on-year, and will be sensitive to any confirmed ceasefire announcement or further US-Iran escalation. The June 5 RBI MPC rate decision is the next key domestic catalyst. This does not constitute investment advice.

Investments in securities are subject to market risk. This content is for educational purposes only and does not constitute investment advice.

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Frequently Asked Questions on Gold Rate Today 4 June 2026

What is the gold rate today on 4 June 2026?

Ans. The gold rate today on 4 June 2026 shows MCX gold June futures rising 0.42% to Rs 1,59,339 per 10 grams, recovering after yesterday’s dip below Rs 1.59 lakh. City-wise prices on June 4 are: Delhi Rs 1,59,530, Mumbai Rs 1,59,380, Kolkata Rs 1,59,380, and Chennai Rs 1,61,240 per 10 grams for 24K gold. The 22K gold rate today is approximately Rs 1,46,100 per 10 grams. The recovery is driven by a weakening US dollar and oil price retreat on optimism around a potential US-Iran peace agreement.

Why is the MCX gold rate today rising on 4 June 2026?

Ans. The MCX gold rate today is rising on 4 June 2026 due to three converging factors. First, optimism around a potential US-Iran peace agreement is causing crude oil prices to retreat (Brent fell over 5% to $97.88 per barrel), reducing global inflation fears that had been pressuring gold. Second, a weakening US dollar is supporting dollar-denominated gold prices: a weaker dollar makes gold cheaper for international buyers, boosting demand. Third, the gold rate today on June 4 is recovering from yesterday’s June 3 dip, when MCX gold dropped below Rs 1.59 lakh on dimmed ceasefire hopes. The international spot gold rate today is around $4,475-4,485 per ounce.

What is the 24K and 22K gold rate today in Delhi and Mumbai?

Ans. The 24K gold rate today on 4 June 2026 is Rs 1,59,530 per 10 grams in Delhi and Rs 1,59,380 per 10 grams in Mumbai and Kolkata. Chennai commands a premium at Rs 1,61,240 per 10 grams for 24K gold. The 22K gold rate today is approximately Rs 1,46,100 per 10 grams across major cities. The 18K gold rate today is approximately Rs 1,19,535 per 10 grams. Prices in India vary across cities due to local taxes, state government levies, transportation charges, and local demand-supply dynamics. The gold rate today does not include GST or making charges applicable on jewellery purchases.

How has the US-Iran situation affected the gold rate today?

Ans. The US-Iran conflict has been the dominant macro driver of the gold rate today and throughout 2026. When the US-Iran conflict escalated from late February 2026, gold surged dramatically as safe-haven demand and inflation fears drove prices to record highs near Rs 1.62-1.65 lakh per 10 grams at their peak. On June 3, when reports suggested ceasefire hopes dimmed, the gold rate today fell below Rs 1.59 lakh. On June 4, the gold rate today is recovering as fresh optimism around a US-Iran peace deal weighed on crude oil and the US dollar, both of which support gold when they decline. A definitive US-Iran peace deal, if announced, could cause a sharp pullback in gold rates as risk aversion unwinds.

What are the MCX gold support and resistance levels today?

Ans. According to commodity market analysts, MCX gold support levels today on June 4, 2026 are at Rs 1,57,700 per 10 grams (immediate) and Rs 1,56,650 per 10 grams (stronger support). Resistance levels for the gold rate today are at Rs 1,59,850 per 10 grams (immediate) and Rs 1,61,100 per 10 grams (next resistance). With MCX June futures at Rs 1,59,339 per 10 grams, gold is trading between its immediate support and resistance on June 4. Watch for a sustained close above Rs 1,59,850 for the next upward move, or a break below Rs 1,57,700 if ceasefire news is confirmed.

How does the rupee movement affect the gold rate today?

Ans. The rupee’s movement directly impacts gold prices in India. Gold is priced globally in US dollars, so when the rupee weakens against the dollar, the domestic gold rate today increases even if international prices stay flat, because it costs more rupees to buy the same dollar amount. Conversely, when the rupee strengthens (as it did on June 4 when it opened at Rs 95.70 per dollar, 1 paise stronger), it moderates domestic gold prices. The rupee touched a record low of Rs 96.96 during peak Iran war fears, which significantly elevated domestic gold prices beyond the international move. The current stabilisation of the rupee near Rs 95-96 is providing some support to gold’s domestic price level.