Gold Rate In India Jumped Rs 17,000 For 24k/100 Grams In 2 Days; Yellow Metal Outlook On June 13; Check Rates

Gold rates in India have shown strong resilience to the downfall in the equity market, with 24 carats of 100 grams gold rising by a whopping Rs 17,000 in two consecutive days. The yellow metal tracked a surge in international prices as COMEX neared the $3,400 mark. MCX gold price neared Rs 98,700 levels. Gold prices are likely to continue on their upward trend, with MCX gold seeing resistance around Rs 99,000 per 10 grams.

"Gold witnessed a sharp rally, with international prices approaching $3,375 per ounce and domestic markets registering a ₹1,500 jump as escalating US-Iran tensions and renewed tariff warnings from President Trump spurred safe-haven demand," said Rahul Kalantri, VP Commodities, Mehta Equities.

The analyst also added, "The US ordered diplomatic staff to leave Baghdad after Iran threatened military action, while Trump announced plans for unilateral tariffs within two weeks. Weak May CPI data also strengthened expectations of a Fed rate cut, with traders increasingly betting on a 50bps easing by year-end."

Following these factors, the 10-gram gold rate is nearing its record high levels across carats.

Gold Prices In India:

On June 12, the price of 24-carat gold per 10 grams was Rs 99,280, up Rs 880 from the previous day. The price of 100 grams of gold surged by Rs 8,800 to Rs 9,92,800.

100 grams and 10 grams gold prices of 24 carats climbed by Rs 8,200 and Rs 820 on June 11. Taking these into consideration, 24-carat gold prices are up by Rs 17,000 in 100 grams and Rs 1,700 in 10 grams from June 11-12.

Meanwhile, 22-carat gold prices are at Rs 91,000 in 10 grams and at Rs 9,10,000 in 100 grams. The prices of 18-carat gold stood at Rs 74,460 for 10 grams and Rs 7,44,600 for 100 grams.

Silver Prices In India:

Unlike gold prices, silver rates witnessed selling pressure but still stayed near their record-high levels. 1KG silver price is currently at Rs 1,08,900, while 100 grams and 10 grams silver prices are at Rs 10,890 and Rs 1,089 respectively.

MCX Gold, Silver Prices:

MCX Gold price, with August 2025 expiry, closed at Rs 98,400 per 10 grams, marginally up. This comes after bullion touched an intraday high of Rs 98,699 per 10 grams on June 12th.

Moreover, MCX silver price finished at Rs 1,05,900 per 1kg, up by Rs 508 or 0.5% from the previous day. The silver touched an intraday high of Rs 1,06,490 per 1kg.

Spot Gold Price:

Gold climbed further on Thursday, approaching $3,390 per ounce and hitting its highest level since early May, as investors reacted to softer US economic data and rising geopolitical risks, as per Trading Economics.

Gold Price Outlook On June 13:

According to Kalantri, investors now await US PPI data and the upcoming Fed policy meeting for further direction. On the dollar front, Gold prices are seen as having support at $3345 and resistance at $3425, while gold MCX prices look to get support at 97000 and resistance at 99000.

"Gold prices rallied sharply on Comex, rising by $50 overnight as renewed concerns over the US debt ceiling and escalating geopolitical tensions with Iran triggered a flight to safe-haven assets. The rally pushed Comex gold above $3370, while MCX gold surged by ₹1,200 to cross ₹98,000. The broader uptrend in gold remains intact, with heightened sensitivity to geopolitical developments fueling fresh buying interest," said Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities.

On a technical note, Trivedi said, key support remains at $3290 on Comex and Rs 96,000 on MCX, while immediate resistance is seen at $3400 and Rs 99,500 respectively.

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