Gold price prediction today: Will gold prices see limited upside? Key levels to watch out for June 1, 2026 week

Gold climbs Rs 1,600, silver surges Rs 5,000 amid US-Iran ceasefire hopes

Gold rebounded Rs 1,600 to Rs 1,62,900 per 10g in India while silver surged Rs 5,000 to Rs 2,74,700/kg, tracking a 1% gain in spot gold to USD 4,530/oz on preliminary US-Iran ceasefire talks extending 60 days. The deal's lack of confirmed details keeps bullion range-bound short-term, but normalization of Strait of Hormuz traffic within 30 days would remove a key supply-chain risk factor for commodity-exposed portfolios.