Gold Prices Today: Market Dances with Volatility as Investors Eye Global Cues
Welcome to another week, investors! As we step into Monday, the markets continue their familiar dance of uncertainty, keeping traders on their toes. The financial playground is buzzing with energy, and gold, as always, is right in the spotlight.
Gold and silver prices are moving to a choppy rhythm today. The yellow metal opened higher this morning (June 16) on the domestic futures market, riding the safe-haven wave triggered by the escalating Israel-Iran tensions. Investors are clearly seeking security, and gold remains their trusted shield.
At around 9:15 AM, MCX Gold August 5 contracts were trading 0.20% higher at ₹Rs 93,340 per 10 grams. But hold on—the story isn’t that straightforward. The strengthening US dollar and muted spot demand have clipped some of gold’s wings, preventing a sharp surge.
All eyes are now on the US Federal Reserve’s policy decision set for June 18, which could steer the next big move. Until then, buckle up for more price swings and market surprises.
Stay tuned, stay sharp, and keep watching the charts—because in the gold game, every tick tells a story.
Gold Shines Bright As Israel-Iran Tensions Escalate: Safe-Haven Rush Intensifies
The gold market is on fire today, and the spark? Fresh attacks between Israel and Iran. As missiles fly and tensions boil over, the fear of a full-blown geopolitical crisis is gripping investors worldwide. Traders aren’t just watching charts—they’re watching headlines, and right now, the Middle East is dictating the mood. When the world feels unsafe, investors sprint to gold like it’s the last life jacket on a sinking ship. The conflict is escalating fast, and the uncertainty is golden fuel for this rally. With US President Donald Trump tossing in his signature unpredictability—hinting that the US might jump into the fray—markets have hit peak nervousness. So, buckle up, because as long as Israel and Iran keep exchanging fire, gold prices are likely to keep shining. In times like these, gold doesn’t just glitter—it glows.
Other Key Reasons Driving Gold Prices
- US Fed Policy Meeting:
The Federal Reserve is set to announce its policy on June 18. Despite cooling inflation, the Fed may hold off on rate cuts due to ongoing global uncertainties. - Trump’s View on Israel-Iran Conflict:
Trump believes a peace deal is possible but suggests both sides may need to “fight it out” first. He also hinted at potential US involvement, adding fuel to market anxieties. - US Headline CPI Data:
The US consumer price index for May rose just 0.1% month-on-month and 2.4% year-on-year, indicating softer inflation that could influence Fed decision-making. - Core CPI Trends:
Core CPI, excluding food and energy, also showed minimal growth at 0.1% month-on-month and 2.8% year-on-year, reinforcing expectations of a cautious Fed stance. - US Tariff Policy Uncertainty:
Lingering concerns over US trade tariffs continue to weigh on the market, contributing to global volatility and investor rush toward safe-haven assets like gold.
Check Gold Price Today In Your City-
| City | Gold Price (22-Carat/10 gm) | Gold Price (24-Carat/10 gm) | Silver Price (Rs/kg) |
| Delhi | Rs 93,340 | Rs 1,01,820 | Rs 1,09,900 |
| Noida | Rs 93,340 | Rs 1,01,820 | Rs 1,09,900 |
| Lucknow | Rs 93,340 | Rs 1,01,820 | Rs 1,09,900 |
| Mumbai | Rs 93,190 | Rs 1,01,670 | Rs 1,09,900 |
| Bengaluru | Rs 93,190 | Rs 1,01,670 | Rs 1,09,900 |
| Chennai | Rs 93,190 | Rs 1,01,670 | Rs 1,19,900 |
| Pune | Rs 93,190 | Rs 1,01,670 | Rs 1,09,900 |
| Ahmedabad | Rs 93,240 | Rs 1,01,720 | Rs 1,09,900 |
| Kolkata | Rs 93,190 | Rs 1,01,670 | Rs 1,09,900 |
| Hyderabad | Rs 93,190 | Rs 1,01,670 | Rs 1,19,900 |
Experts On Yellow Metal
According to a report by Mint, Manoj Kumar Jain of Prithvifinmart Commodity Research has sounded a caution bell for gold and silver traders this week. Jain expects the precious metals to continue their wild swings and firmly advises against short-selling until some solid ceasefire news emerges from the escalating Israel-Iran conflict. “We expect gold and silver prices to remain volatile this week. We suggest avoiding short selling in gold and silver until any ceasefire news from the Israel-Iran war,” Jain told Mint. On the global front, gold seems to be holding support at $3,420-3,388 per troy ounce and faces resistance at $3,480-3,510, while silver has support at $36-35.70 and resistance at $36.66-37.00. Back home, MCX gold is dancing between ₹99,650-99,100 on the support side and ₹1,01,100-1,01,800 on the resistance side. Jain recommends buyers to aim between ₹99,600-99,100 for gold and ₹1,05,000-1,04,000 for silver, urging traders to “trade cautiously and stick to the levels.
