Gold Gets Cheaper Overnight! Check New Gold Rate Today at Tanishq, Kalyan, Malabar, Joyalukkas & IBJA

After registering gains in the previous session, gold rates today underwent a sharp correction, with benchmark rates falling by as much as Rs. 4,300 per 10 grams across major purity categories. The sudden decline in gold prices today has come as global bullion markets have turned cautious amid easing geopolitical tensions and growing expectations of rate cuts at the Upcoming FOMC meeting.

As of 10 June, 24-carat gold price in India fell to Rs. 14,886 per gram, down Rs. 430 per gram, while 22-carat gold rate dropped Rs. 395 per gram to Rs. 13,645 per gram.

The sharp correction in gold rate today is likely to attract buyers who have been waiting on the sidelines for lower prices

Latest Gold Rates at Top Jewellery Stores In India

Joyalukkas Gold Rate Today

Among leading jewellery retailers, Joyallukas is quoting 24-carat gold at Rs. 15,316 per gram, 22-carat gold at Rs. 14,040 per gram and 18-carat gold at Rs. 11,487 per gram.

Malabar Gold Rate Today

As of 10 june, Malabar Gold & Diamonds has listed 22-carat gold at Rs. 13,645 per gram, while 24-carat gold is being sold at Rs. 14,885 per gram.

Kalyan Jewellers Gold Rate Today

Kalyan Jewellers is currently quoting a 22-carat gold rate at Rs. 14,040 per gram across major cities including Mumbai, Bengaluru, Chennai, Hyderabad and Delhi.

Tanishq Gold Rate Today

Tanishq has priced 24-carat gold at Rs. 153,650 per 10 grams, 22-carat gold at Rs. 140,850 per 10 grams and 18-carat gold at Rs. 115,240 per 10 grams. On a per-gram basis, this works out to approximately Rs. 15,365 for 24-carat gold and Rs. 14,085 for 22-carat gold.

Gold Price Movement Analysis & Outlook

According to Prithviraj Kothari, Managing Director of RiddiSiddhi Bullions Ltd., President of the India Bullion and Jewellers Association (IBJA), and Chairman of Jain International Trade Organisation, "gold and silver are currently consolidating near critical support levels as markets assess a fragile ceasefire situation in the Middle East and the possibility of further interest rate hikes.Investors are closely tracking developments surrounding the Israel-Iran situation, while also awaiting key US inflation data, including CPI and PPI figures. In addition, the CME FedWatch Tool is indicating more than a 70% probability of a US Federal Reserve rate hike by December. Higher interest rates generally weigh on gold prices because the metal does not offer any yield."

Despite the current weakness, Kothari believes gold and silver could witness a 3-4% rebound from current levels due to fresh buying interest, although markets may remain volatile in the near term.

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