Mumbai Gold Rate Today Takes U-Turn! 24K Jumps Gm After Rs 75,200/100 Gm Crash In 2 Days | 12 June Rates

Mumbai Gold Rate Today: The price of 24 karat, 22 karat and 18 karat gold in Mumbai rebounded sharply on Friday, June 12. The sharp jump in gold rate today came after the 24 karat gold price crashed nearly Rs 75,200 per 100 grams
in the last two days. Meanwhile, the silver rate today in Mumbai also saw an uptick.

The recent surge in gold prices came as global commodity prices edged higher due to growing optimism around the Iran-US peace deal amid the ongoing West Asia crisis. Back in Mumbai, the recent uptick has weakened the hope of any major price correction in gold.

Mumbai Gold Rate Today

The price of 24 karat gold in Mumbai increased by Rs 294 per gram to Rs 14,858 per gram on Friday, June 12. Likewise, the price of 22 karat gold in Mumbai surged by Rs 270 per gram to Rs 13,620 per gram. Similarly, the rate of 18 karat gold in Mumbai surged by Rs 221 per gram, increasing to Rs 11,144 per gram on Friday.

Mumbai Silver Rate Today

Silver rate today in Mumbai increased to Rs 260 per gram on Friday, June 12 and per kilogram surged by Rs 10,000 to Rs 2,60,000. Silver prices are higher in Mumbai today. You pay Rs 260 for one gram. A kilogram costs Rs 2,60,000. This follows an increase since yesterday. Buying silver requires careful market tracking.

Prices stayed flat for years after 2008. Investors often favoured equities during that time. Stocks reached new highs in 2016 and 2017. Later, many investors sold shares for metals. This shift helped silver and gold prices recover.

"The combination of elevated inflation, resilient labour market conditions, higher Treasury yields and a stronger dollar continues to weigh on non-yielding assets such as gold. Focus now shifts to the U.S. PPI report and upcoming officials' commentary for further clues on the interest-rate outlook," stated Manav Modi, Commodities Analyst, Motilal Oswal Financial Services Ltd.

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