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Mint
7 days ago
- Business
- Mint
Gold prices today in your city: Check prices in Mumbai, Bengaluru, Chennai, Hyderabad, New Delhi and Kolkata on June 16
Gold, silver prices in your city, June 16: With the Isarel-Iran conflict on the brink of full-blown war as both countries trade attacks after Israel took aim at Iran's nuclear facilities and the latter responded with drone attacks, has pushed up gold prices due to fears of a full-blown war in the region. Experts are firm that gold and silver are safe haven bets that investors can make to safeguard their portfolios in these volatile markets. According to Sugandha Sachdeva, Founder of SS WealthStreet, the geopolitical tensions have 'significantly increased global risk aversion, reinforcing gold's appeal as a safe-haven asset'. As for gold, prices have risen 31 per cent year-to-date (YTD) with consistent record highs solidifying its position among 2025's top-performing asset classes and a reliable hedge. Over the past 20 years, gold prices have skyrocketed by an impressive 1,200 per cent from ₹ 7,638 in 2005 to over ₹ 1,00,000 in 2025 (till June), and delivered positive returns in 16 of these years. Further, silver has also proved resilient. Prices have held above the ₹ 1 lakh/kg mark for the past three week. Over the past 20 years (2005-2025), the metal has gained a solid 668.84 per cent. Prices opened higher today at 6.20 am on June 16. The MCX gold index was at ₹ 1,00,314/10 gm, the official website showed. Meanwhile, MCX silver prices were at ₹ 1,06,474/kg, it showed. Further, 24-carat gold was priced at ₹ 1,00,470/10 gm, according to data on the Indian Bullion Association (IBA) at 6.20 am on June 16. Further, 22-carat gold was priced at ₹ 92,098/10 gms. Silver prices today are at ₹ 1,06,920/kg (Silver 999 Fine), as per the IBA website. So, check here gold prices and silver rates in your city today on June 16 — Delhi, Kolkata, Mumbai, Hyderabad, Bengaluru, and Chennai. Notably, for retail customers, jewellers may add making charges, taxes and GST to the bill, which could hike the final price for you. • Gold bullion rates in Kolkata — ₹ 1,00,160/10 gm. • MCX Gold rate in Kolkata — ₹ 1,00,314/10 gm. • Silver bullion rate in Kolkata — ₹ 1,06,580/kg. • MCX Silver 999 rate in Kolkata — ₹ 1,06,474/kg. • Gold bullion rates in Mumbai — ₹ 1,00,290/10 gm. • MCX Gold rate in Mumbai — ₹ 1,00,314/10 gm. • Silver bullion rate in Mumbai — ₹ 1,06,720/kg. • MCX Silver 999 rate in Mumbai — ₹ 1,06,474/kg. • Gold bullion rates in Hyderabad — ₹ 1,00,450/10 gm. • MCX Gold rate in Hyderabad — ₹ 1,00,314/10 gm. • Silver bullion rate in Hyderabad — ₹ 1,06,890/kg. • MCX Silver 999 rate in Hyderabad — ₹ 1,06,474/kg. • Gold bullion rates in New Delhi — ₹ 1,00,120/10 gm. • MCX Gold rate in New Delhi — ₹ 1,00,314/10 gm. • Silver bullion rate in New Delhi — ₹ 1,06,540/kg. • MCX Silver 999 rate in New Delhi — ₹ 1,06,474/kg. • Gold bullion rates in Chennai — ₹ 1,00,580/10 gm. • MCX Gold rate in Chennai — ₹ 1,00,314/10 gm. • Silver bullion rate in Chennai — ₹ 1,07,030/kg. • MCX Silver 999 rate in Chennai — ₹ 1,06,474/kg. • Gold bullion rates in Bengaluru — ₹ 1,00,370/10 gm. • MCX Gold rate in Bengaluru — ₹ 1,00,314/10 gm. • Silver bullion rate in Bengaluru — ₹ 1,06,810/kg. • MCX Silver 999 rate in Bengaluru — ₹ 1,06,474/kg. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Mint
14-06-2025
- Business
- Mint
Gold price outlook: Experts see MCX gold rate at ₹1.05 lakh if Israel-Iran war further escalates
Gold prices on the Multi Commodity Exchange (MCX) surged past the ₹ 1 lakh-mark on Friday, driven by robust safe-haven demand following a sharp escalation in geopolitical tensions between Israel and Iran. Renewed conflict in the Middle East, expectations of interest rate cuts, and a risk-off sentiment across financial markets collectively contributed to the rally in the yellow metal. MCX gold rate settled 0.04% higher at ₹ 1,00,314 per 10 grams after touching an intraday high of ₹ 1,00,681. Meanwhile, MCX silver prices declined marginally by 0.02% to ₹ 1,06,474 per kg, after hitting a high of ₹ 1,06,940 during the session. In the international market, spot gold price surged 1.3% to $3,428.10 an ounce, inching closer to its all-time high of $3,500.05 set in April. For the week, prices gained approximately 4%. US gold futures also advanced 1.5% to settle at $3,452.80. 'The latest upswing has been fueled by renewed conflict in the Middle East, particularly the Israeli strikes on Iranian nuclear infrastructure, which have significantly increased global risk aversion, reinforcing gold's appeal as a safe-haven asset,' said Sugandha Sachdeva, Founder of SS WealthStreet. She further noted that the US Dollar Index, which peaked at 110.18 in January, has since dropped to a three-year low, weighed down by disappointing economic indicators and policy uncertainty amid renewed tariff measures. 'The sharp decline in the dollar index has been a key catalyst driving gold higher. Additionally, easing inflation—with the US CPI cooling to 2.4% in May, below expectations—has raised prospects of a rate cut by the Federal Reserve, potentially as early as its June 18 meeting,' Sachdeva added. Markets are now increasingly pricing in a cumulative 50 basis points rate cut in 2025, lending further support to bullion prices. Gold has delivered stellar returns so far this year, rising 31% year-to-date (YTD) and consistently posting record highs. The metal has reaffirmed its position as one of 2025's top-performing asset classes and a reliable hedge against macroeconomic and geopolitical uncertainty. From ₹ 7,638 in 2005 to over ₹ 1,00,000 in June 2025, MCX gold prices have soared by an impressive 1,200.84%. In comparison, silver has gained 668.84% over the same period. Notably, gold prices have rallied by ₹ 10,000 in just the past 74 days. The asset has delivered positive returns in 16 of the last 20 years, highlighting its resilience and investor appeal. 'This sustained rally is being driven by a confluence of global macroeconomic and geopolitical factors. These include heightened economic uncertainty, anticipated rate cuts by the US Fed, aggressive central bank gold purchases, and rising geopolitical tensions,' Sachdeva observed. With supportive macroeconomic drivers and strong momentum, the outlook for gold remains bullish in the near term. According to Sachdeva, if tensions in the Middle East escalate further, another wave of safe-haven buying could propel gold prices toward the $3,500 mark. 'A breakout above that level could drive prices even higher toward the $3,590 per ounce where prices are likely to witness some resistance. In the domestic market, MCX gold is potentially heading towards ₹ 1,05,000 per 10 grams, with near-term support seen at ₹ 96,200 level,' Sachdeva said. NS Ramaswamy, Head -Commodity Desk and CRM at Ventura Securities, expects COMEX gold price to create a fresh high of $3,540 in the short term, with resistance at $3,476, and support seen at $3,400 - $3,345 levels. 'MCX gold August futures presently has support at ₹ 98,900, and is poised to surge to ₹ 1,02,000 in the short term,' said Ramaswamy. Goldman Sachs reiterated its forecast that structurally strong central bank buying will raise the gold price to $3,700 per ounce by end-2025 and $4,000 by mid-2026. BofA sees a path for gold to rally to $4,000 per ounce over the next 12 months.
Mint
14-06-2025
- Business
- Mint
Gold price outlook: Experts see MCX gold rate at ₹1.05 lakh if Israel-Iran war further escalates
Gold prices on the Multi Commodity Exchange (MCX) surged past the ₹ 1 lakh-mark on Friday, driven by robust safe-haven demand following a sharp escalation in geopolitical tensions between Israel and Iran. Renewed conflict in the Middle East, expectations of interest rate cuts, and a risk-off sentiment across financial markets collectively contributed to the rally in the yellow metal. MCX gold rate settled 0.04% higher at ₹ 1,00,314 per 10 grams after touching an intraday high of ₹ 1,00,681. Meanwhile, MCX silver prices declined marginally by 0.02% to ₹ 1,06,474 per kg, after hitting a high of ₹ 1,06,940 during the session. In the international market, spot gold price surged 1.3% to $3,428.10 an ounce, inching closer to its all-time high of $3,500.05 set in April. For the week, prices gained approximately 4%. US gold futures also advanced 1.5% to settle at $3,452.80. 'The latest upswing has been fueled by renewed conflict in the Middle East, particularly the Israeli strikes on Iranian nuclear infrastructure, which have significantly increased global risk aversion, reinforcing gold's appeal as a safe-haven asset,' said Sugandha Sachdeva, Founder of SS WealthStreet. She further noted that the US Dollar Index, which peaked at 110.18 in January, has since dropped to a three-year low, weighed down by disappointing economic indicators and policy uncertainty amid renewed tariff measures. 'The sharp decline in the dollar index has been a key catalyst driving gold higher. Additionally, easing inflation—with the US CPI cooling to 2.4% in May, below expectations—has raised prospects of a rate cut by the Federal Reserve, potentially as early as its June 18 meeting,' Sachdeva added. Markets are now increasingly pricing in a cumulative 50 basis points rate cut in 2025, lending further support to bullion prices. Gold has delivered stellar returns so far this year, rising 31% year-to-date (YTD) and consistently posting record highs. The metal has reaffirmed its position as one of 2025's top-performing asset classes and a reliable hedge against macroeconomic and geopolitical uncertainty. From ₹ 7,638 in 2005 to over ₹ 1,00,000 in June 2025, MCX gold prices have soared by an impressive 1,200.84%. In comparison, silver has gained 668.84% over the same period. Notably, gold prices have rallied by ₹ 10,000 in just the past 74 days. The asset has delivered positive returns in 16 of the last 20 years, highlighting its resilience and investor appeal. 'This sustained rally is being driven by a confluence of global macroeconomic and geopolitical factors. These include heightened economic uncertainty, anticipated rate cuts by the US Fed, aggressive central bank gold purchases, and rising geopolitical tensions,' Sachdeva observed. With supportive macroeconomic drivers and strong momentum, the outlook for gold remains bullish in the near term. According to Sachdeva, if tensions in the Middle East escalate further, another wave of safe-haven buying could propel gold prices toward the $3,500 mark. 'A breakout above that level could drive prices even higher toward the $3,590 per ounce where prices are likely to witness some resistance. In the domestic market, MCX gold is potentially heading towards ₹ 1,05,000 per 10 grams, with near-term support seen at ₹ 96,200 level,' Sachdeva said. NS Ramaswamy, Head -Commodity Desk and CRM at Ventura Securities, expects COMEX gold price to create a fresh high of $3,540 in the short term, with resistance at $3,476, and support seen at $3,400 - $3,345 levels. 'MCX gold August futures presently has support at ₹ 98,900, and is poised to surge to ₹ 1,02,000 in the short term,' said Ramaswamy. Goldman Sachs reiterated its forecast that structurally strong central bank buying will raise the gold price to $3,700 per ounce by end-2025 and $4,000 by mid-2026. BofA sees a path for gold to rally to $4,000 per ounce over the next 12 months. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Time of India
31-05-2025
- Business
- Time of India
What led to rupee becoming Asia's worst performing currency in May?
After appreciating towards 83.94/$1 levels in April, the combined impact of tariff uncertainties, border tensions and expectations of further monetary easing by the central bank made the rupee the worst performing currency in Asia in May. The rupee weakened 1.27% in May, from 84.48/$1 at the beginning of the month to 85.57/$1 as of May 30, and retreated the most in Asia. Agencies 'There have been unwinding of long rupee positions amid tariff uncertainties while importers are taking advantage of lower forward premiums,' said Kunal Sodhani, head of treasury at Shinhan Bank India. One year dollar-rupee forward premiums fell to 1.94%, from 2.34% in early April. Some positive cues like lower inflation, growth prospects and a softer dollar index have helped the rupee to trade around the 85.50/$1 levels, but global economic factors can add to further weakness. 'A sharp rebound in the US dollar, an unexpected shift in the Federal Reserve's interest rate outlook, or delays in the India-US trade negotiations could dampen optimism in the near future,' said Sugandha Sachdeva, founder of SS WealthStreet, a New Delhibased research firm.
Mint
10-05-2025
- Business
- Mint
Gold rates today ₹2800 away from record high. Is this the right time to buy gold?
Gold rate today: Following the economic uncertainty buzz after the steady US Fed rates, gold prices witnessed strong buying last week. After losing for two successive weeks, MCX gold rates surged over 4%, whereas spot gold prices surged 2.65% last week. According to market experts, this disparity is primarily attributed to the Indian National Rupee's (INR's) depreciation of over 1%, amplified the gold price rally in the domestic market. MCX gold rates finished at ₹ 96,535 per 10 gm on Friday, logging a weekly gain of ₹ 3,835 per 10 gm against the previous week's close of ₹ 92,700. While finishing at ₹ 96,535 levels, MCX gold rate today is around ₹ 2800 away from the record high of ₹ 99,358 per 10 gm. Highlighting the reasons that are fueling gold rates today, Sugandha Sachdeva, Founder of SS WealthStreet said, "The US Fed's decision to maintain interest rates at 4.5% at its recent policy meeting reflects ongoing economic uncertainties, owing to the impact of tariffs on the US economy, which boosted gold's appeal as a safe-haven asset. Similarly, the Bank of England's rate cut of 25bps to 4.25% has further supported gold prices." Pointing towards the persisting safe-haven demand for gold, Sugandha Sachdeva of SS WealthStreet said, "Apart from these key policy meetings during the week, overall tariff uncertainty still looms as the US announced tariffs on foreign-produced movies and threatened to impose tariffs on the pharma sector, heightening market volatility and increasing demand for gold. Additionally, rising India-Pakistan tensions contributed to gold's safe-haven demand, particularly in the domestic market. Any major depreciation in the Indian rupee due to these escalating geopolitical risks could lead to additional gains in the domestic markets." Pointing towards appreciation in the Indian rupee after dip in the US dollar rates, Jigar Trivedi, Senior Research Analyst at Reliance Securities, said, "The US dollar index edged lower to around 100 on Friday, after two straight sessions of gains, as traders looked ahead to US-China trade talks scheduled for the weekend. President Trump expressed optimism and expects the negotiations to yield tangible progress. Meanwhile, the newly announced US-UK trade deal provided some relief to investors hoping for a de-escalation in global trade tensions." Jateen Trivedi, VP Research — Commodity & Currency at LKP Securities, said, "Gold price today is oscillating between ₹ 95,750 and ₹ 96,750 on the MCX, largely influenced by sharp movements in the Indian rupee. On the global front, Comex gold price eased as market sentiment turned optimistic following trade-related announcements between the US and Europe, along with the possibility of renewed trade talks between the US and China." On triggers that may dominate gold rates in the near-term, Jigar Trivedi of Reliance Securities said, "Market attention will continue on US trade negotiations, followed by key data including the inflation rate, retail sales, and speeches from Federal Reserve officials, notably Chairman Jerome Powell." "Upcoming US-China trade talks scheduled for the weekend introduce uncertainty. A positive outcome may ease market fears, potentially capping gold's gains. At the same time, if talks collapse, that could trigger a rally in gold prices," said Sugandha, adding, "For the next week, upcoming US economic data like US CPI, PPI, and Eurozone GDP could impact global market sentiment and also provide cues for the precious metal." Speaking on the gold price outlook in the near term, Sugandha Sachdeva said, "Apart from these key policy meetings during the week, overall tariff uncertainty still looms as the US announced tariffs on foreign-produced movies and threatened to impose tariffs on the pharma sector, heightening market volatility and increasing demand for gold. Additionally, rising India-Pakistan tensions contributed to gold's safe-haven demand, particularly in the domestic market. Any major depreciation in the Indian rupee due to these escalating geopolitical risks could lead to additional gains in the domestic markets." Expecting volatility in gold prices, Jateen Trivedi of LKP Securities said, "While trade optimism is exerting pressure on gold, ongoing border tensions and shifting geopolitical narratives continue to lend support. In the near term, gold price will likely remain range-bound between ₹ 94,500 and ₹ 97,500, with heightened volatility expected as risk sentiment continues to fluctuate." Sharing the essential pivots regarding MCX gold rates today, Sugandha Sachdeva of SS WealthStreet said, 'Technical set-up indicates that gold prices are taking support at the ₹ 94,500 and ₹ 92,000 per 10 gm level, while key hurdle for gold is seen at the ₹ 97,500 per 10 gm mark. A breach of the same shall take the prices to ₹ 98,780 per 10 gm mark and could even test previous record high levels of ₹ 99,358 per 10 gm. On the international front, gold prices are finding strong support at the $3,280 per ounce mark. If prices continue to trade above this level, we may see the precious metal reach the $3,380 to $3,420 levels.' According to the information available on the India Bullions Association (IBA), here is the list of gold rates today in Delhi, Mumbai, and other Indian metro cities: Gold rates in Delhi — ₹ 96,540/10 gm; Gold rates in Mumbai — ₹ 96,710/10 gm; Gold rates in Bengaluru — ₹ 96,780/10 gm; Gold rates in Chennai — ₹ 96,990/10 gm; and Gold rates in Kolkata — ₹ 96,580/10 gm.
