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- Gold, Silver Rate Highlights: MCX Gold, MCX Silver in green; international gold prices up amid Middle East crisis and US rate hikes fears
THE TIMES OF INDIA | Jun 09, 2026, 21:17:52 IST
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Gold, Silver Rate Highlights: MCX Gold, MCX Silver in green; international gold prices up amid Middle East crisis and US rate hikes fears
Gold, Silver Rate Today Live Updates: Analysts expect gold prices to remain highly responsive to developments in West Asia, fluctuations in crude oil markets, and a packed calendar of economic data releases in this week.
Market participants will closely track trade and inflation figures from both China and the US, consumer sentiment data from Washington, and India's Consumer Price Index (CPI) readings.
Investors will also keep an eye on the European Central Bank's policy decision for signals that could influence precious metals and broader commodity markets.
Domestic bullion markets ended last on a weak note. MCX gold futures for August delivery declined by Rs 5,317, or 3.3%, to close at Rs 1.55 lakh per 10 grams. Silver futures for July delivery fell Rs 18,461, or 7%, to Rs 2.48 lakh per kilogram.
Track TOI’s live coverage on gold and silver prices to know what analysts are saying:
Market participants will closely track trade and inflation figures from both China and the US, consumer sentiment data from Washington, and India's Consumer Price Index (CPI) readings.
Investors will also keep an eye on the European Central Bank's policy decision for signals that could influence precious metals and broader commodity markets.
Domestic bullion markets ended last on a weak note. MCX gold futures for August delivery declined by Rs 5,317, or 3.3%, to close at Rs 1.55 lakh per 10 grams. Silver futures for July delivery fell Rs 18,461, or 7%, to Rs 2.48 lakh per kilogram.
Track TOI’s live coverage on gold and silver prices to know what analysts are saying:
LIVE RATES · INDIA
9:20:01 pm
19:30 (IST) Jun 09
Gold inches higher as oil falls, US rate-hike fears cap gains
Gold edged higher on Tuesday supported by lower oil prices as tensions eased in the Middle East, but concerns about U.S. interest rate hikes ahead of key inflation data this week capped gains.
Spot gold was up 0.3% at $4,340.31 per ounce as of 1156 GMT. The metal fell to its lowest level since March 23 in the previous session.
18:26 (IST) Jun 09
Markets await Fed cues as gold holds steady
Gold prices remained range-bound as investors looked ahead to key US economic data that could offer fresh signals on the Federal Reserve's interest rate trajectory.
"Market participants are awaiting key macroeconomic data for further cues on the US Federal Reserve's monetary policy cycle and near-term direction for bullion prices," said Pinky Yadav of Choice Broking.
17:28 (IST) Jun 09
Lower oil prices support gold, but rate concerns cap gains
Gold traded with a positive bias as international crude oil prices dropped nearly 2% and slipped below the $90-per-barrel mark. Analysts said softer energy prices offered relief to bullion markets, helping prices stay firm.
"Global gold markets remained volatile despite a weak US dollar and easing tensions between Iran and Israel," said Pinky Yadav, Commodity Fundamental Analyst at Choice Broking.
16:27 (IST) Jun 09
Gold futures rise to near Rs 1.55 lakh on MCX
Gold futures for August delivery edged up by Rs 131 to Rs 1,54,915 per 10 grams on the MCX on Tuesday. The yellow metal found support from easing crude oil prices, although gains remained limited amid concerns over inflation and higher interest rates.
"Gold prices advanced marginally, driven by easing tensions in West Asia despite ongoing fears of interest rate hikes due to persistent inflation," said Gaurav Garg, Research Analyst at Lemonn Markets Desk.
15:26 (IST) Jun 09
Gold Rate Today: Gold steady as US CPI data awaited
Spot gold is currently trading steady around $4330 as traders look for more clues to the situation in the Middle East. In addition, US CPI data for May to be released tomorrow is also keeping them cautious as the estimate suggests the CPI inflation will accelerate from 3.8% y-o-y to 4.2%.
Today's US data include ADP weekly and import-export indices.
Crude oil is a bit lower today as the US President Trump has once again claimed that a good deal is imminent. Consequently, US yields and Dollar have edged lower today; thus, supporting gold prices.
Yesterday, there was a massive outflow of nearly 0.20 MOz (~6.22 tons) from global gold ETFs, which does not bode well for the metal. Reportedly, gold sales in China are declining amid falling prices as buyers fear further decline. Meanwhile, China's Central Bank PBoC bought gold for the nineteenth straight month in May as it added 320,000 Ounces to its reserves, which is positive for the shiny metal.
Gold is expected to trade with a bearish bias in short term as bears eye a test of support at $4250, a breach of which will bring $4099 in focus. Resistance is at $4366/$4410, says Praveen Singh, Head of commodities at Mirae Asset ShareKhan.
Today's US data include ADP weekly and import-export indices.
Crude oil is a bit lower today as the US President Trump has once again claimed that a good deal is imminent. Consequently, US yields and Dollar have edged lower today; thus, supporting gold prices.
Yesterday, there was a massive outflow of nearly 0.20 MOz (~6.22 tons) from global gold ETFs, which does not bode well for the metal. Reportedly, gold sales in China are declining amid falling prices as buyers fear further decline. Meanwhile, China's Central Bank PBoC bought gold for the nineteenth straight month in May as it added 320,000 Ounces to its reserves, which is positive for the shiny metal.
Gold is expected to trade with a bearish bias in short term as bears eye a test of support at $4250, a breach of which will bring $4099 in focus. Resistance is at $4366/$4410, says Praveen Singh, Head of commodities at Mirae Asset ShareKhan.
14:13 (IST) Jun 09
Gold Rate Today: How to trade gold
Manoj Kumar Jain of Prithvi Finmart told ET that gold and silver are expected to witness continued volatility during the week, influenced by swings in crude oil prices, fluctuations in the dollar index and ongoing uncertainty over a potential peace agreement between the US and Iran.
According to Jain, gold is likely to find support in the $4,343-$4,280 per troy ounce range, while resistance is placed between $4,400 and $4,440 per troy ounce. For silver, support is seen at $66.60-$64.00 per troy ounce, with resistance levels pegged at $71.40-$74.00 per troy ounce for the current trading session.
In the domestic market, he expects gold on MCX to have support between Rs 1,53,350 and Rs 1,52,200, while resistance is likely at Rs 1,55,500-Rs 1,56,650. Silver, meanwhile, has support in the Rs 2,42,200-Rs 2,38,000 range and resistance between Rs 2,51,000 and Rs 2,55,500.
Jain noted that Prithvi Finmart had advised investors on Monday to accumulate silver around Rs 2,38,000 with a target price of Rs 2,51,000. Those who bought the metal at lower levels should continue to maintain a stop loss at Rs 2,39,000 and may consider taking profits if prices move into the Rs 2,47,000-Rs 2,50,000 zone.
According to Jain, gold is likely to find support in the $4,343-$4,280 per troy ounce range, while resistance is placed between $4,400 and $4,440 per troy ounce. For silver, support is seen at $66.60-$64.00 per troy ounce, with resistance levels pegged at $71.40-$74.00 per troy ounce for the current trading session.
In the domestic market, he expects gold on MCX to have support between Rs 1,53,350 and Rs 1,52,200, while resistance is likely at Rs 1,55,500-Rs 1,56,650. Silver, meanwhile, has support in the Rs 2,42,200-Rs 2,38,000 range and resistance between Rs 2,51,000 and Rs 2,55,500.
Jain noted that Prithvi Finmart had advised investors on Monday to accumulate silver around Rs 2,38,000 with a target price of Rs 2,51,000. Those who bought the metal at lower levels should continue to maintain a stop loss at Rs 2,39,000 and may consider taking profits if prices move into the Rs 2,47,000-Rs 2,50,000 zone.
12:01 (IST) Jun 09
Gold Rate Today: Chennai opening bullion rates on Tuesday
1 Gm Gold 22 Kt: Rs 14,200.00
1 Gm Gold 18 Kt: Rs 11,920.00
1 Gm Silver: Rs 270.00
1 Gm Gold 18 Kt: Rs 11,920.00
1 Gm Silver: Rs 270.00
11:03 (IST) Jun 09
Gold Rate Today: MCX Gold, MCX Silver futures drop
Gold and silver prices began Tuesday's session on a weaker note on the Multi Commodity Exchange (MCX) as investors assessed the fragile truce between Israel and Iran and continued to monitor developments across the wider Middle East. Inflation concerns and expectations surrounding interest rates also remained key factors influencing market sentiment.
In domestic trade, MCX silver futures for July 2026 delivery fell Rs 2,457, or 1%, to Rs 2,43,932 per kg. Gold futures for August 2026 delivery declined by Rs 388 to Rs 1,53,396 per 10 grams. The weakness followed sharp losses in the previous session, when silver tumbled nearly 7% and gold dropped more than 2%.
On Monday, Iran and Israel announced a halt in hostilities after an appeal from US President Donald Trump. However, Tehran cautioned that it could resume military operations if Israel continued targeting Hezbollah positions in Lebanon.
In domestic trade, MCX silver futures for July 2026 delivery fell Rs 2,457, or 1%, to Rs 2,43,932 per kg. Gold futures for August 2026 delivery declined by Rs 388 to Rs 1,53,396 per 10 grams. The weakness followed sharp losses in the previous session, when silver tumbled nearly 7% and gold dropped more than 2%.
On Monday, Iran and Israel announced a halt in hostilities after an appeal from US President Donald Trump. However, Tehran cautioned that it could resume military operations if Israel continued targeting Hezbollah positions in Lebanon.
10:01 (IST) Jun 09
Gold Rate Today: Why investors are cautious
Tim Waterer, Chief Market Analyst at KCM Trade, said gold's subdued performance reflects investor caution. According to him, traders remain uncertain about how long the Iran-Israel ceasefire will hold and are reluctant to take aggressive positions ahead of key US inflation data scheduled for release this week. The inflation figures are expected to provide important clues about the Federal Reserve's next policy moves.
On Monday, Iran and Israel announced a halt in direct attacks following an appeal from US President Donald Trump. However, Tehran cautioned that military action could resume if Israel continued strikes against Hezbollah targets in Lebanon, highlighting the fragile nature of the truce.
On Monday, Iran and Israel announced a halt in direct attacks following an appeal from US President Donald Trump. However, Tehran cautioned that military action could resume if Israel continued strikes against Hezbollah targets in Lebanon, highlighting the fragile nature of the truce.
09:01 (IST) Jun 09
Gold Rate Today: International gold prices steady
Gold prices were largely unchanged on Tuesday as market participants evaluated the fragile ceasefire between Israel and Iran while closely monitoring developments in the wider Middle East. Investors also remained focused on inflation concerns and the possibility of higher interest rates, both of which continue to influence sentiment in the precious metals market.
Spot gold was trading near $4,332.50 an ounce as of 0222 GMT, holding steady after falling to its lowest level in more than two months during the previous session. Meanwhile, US gold futures for August delivery slipped 0.1% to $4,357.10 an ounce.
Spot gold was trading near $4,332.50 an ounce as of 0222 GMT, holding steady after falling to its lowest level in more than two months during the previous session. Meanwhile, US gold futures for August delivery slipped 0.1% to $4,357.10 an ounce.
08:01 (IST) Jun 09
Gold, silver outlook: US inflation data, Fed signals and oil prices in focus
After a sharp sell-off in precious metals, investors are turning their attention to upcoming US inflation data and Federal Reserve commentary for clues on the future interest-rate path, while keeping a close watch on crude oil prices and developments in West Asia.
"With the US May Consumer Price Index (CPI) release on June 10 pivotal, a hot reading could solidify the Federal Reserve's interest rate hike bets, extend dollar strength, and further pressure precious metals," said Kaynat Chainwala, AVP Commodity Research, Kotak Securities.
06:13 (IST) Jun 09
Can gold slip below $4,000 as Fed rate hike bets gather pace?
With markets now pricing in more than a 70% chance of a Federal Reserve rate hike by December and US Treasury yields hitting two-week highs, analysts are warning that bullion could face further downside pressure.
"Gold may next test the psychologically important $4,000 line for critical support if markets receive hotter-than-expected CPI prints this week, or a decidedly hawkish FOMC next week," said Han Tan, chief market analyst at Bybit.
04:54 (IST) Jun 09
Why are gold prices falling despite Middle East tensions?
Gold would normally benefit from geopolitical uncertainty, but the latest escalation between Israel and Iran has pushed oil prices higher, stoking inflation concerns and increasing expectations that the Federal Reserve could keep interest rates elevated for longer.
"The sharp drop in gold prices is a reaction to a blowout US jobs report, which signals that interest rates might remain higher for longer, strengthening the dollar and pulling money away from precious metals," said Rajkumar Subramanian, Head - Product & Family Office, PL Wealth.
"The sharp drop in gold prices is a reaction to a blowout US jobs report, which signals that interest rates might remain higher for longer, strengthening the dollar and pulling money away from precious metals," said Rajkumar Subramanian, Head - Product & Family Office, PL Wealth.
03:15 (IST) Jun 09
Analysts see inflation fears overtaking gold's safe-haven appeal
Analysts say the latest decline in precious metals reflects a shift in market focus, with investors paying more attention to the inflationary impact of higher oil prices and potential interest-rate hikes than to gold's traditional role as a safe-haven asset.
"The rebound in crude oil prices has altered the narrative for precious metals. Instead of benefiting from safe-haven demand amid tensions in West Asia, gold has come under pressure as investors worry that higher energy prices could fuel inflation and delay monetary policy easing," analysts said.
02:23 (IST) Jun 09
Gold, silver fall as investors reassess Fed outlook amid rising oil prices
Gold and silver prices declined in global markets on Monday as investors reacted to stronger-than-expected US economic data, higher Treasury yields and renewed inflation concerns linked to rising crude oil prices and tensions in West Asia.
"Gold continued to decline on Monday, reflecting overall weakness in the global market amid rising tensions between Israel and Iran, which have increased concerns about inflation and the outlook for interest rates," said Saumil Gandhi, Senior Analyst of Commodities at HDFC Securities.
01:12 (IST) Jun 09
Gold prices tumble as Fed rate hike bets surge, oil shock dents safe-haven demand
Gold prices extended losses on Monday as strong US jobs data, rising Treasury yields and a fresh jump in crude oil prices strengthened expectations of a Federal Reserve rate hike later this year, reducing the appeal of non-yielding bullion.
"Spot gold has been sent to a two-month low as markets now expect a Fed rate hike this year following yet another blockbuster U.S. jobs report," said Han Tan, chief market analyst at Bybit.
23:06 (IST) Jun 08
Gold extends losses on US interest rate-hike fears
Gold prices extended losses on Monday on rising fears of a US rate hike after a strong jobs report, while renewed hostilities in the Middle East pushed oil prices higher and fanned inflation concerns.
Spot gold fell 0.2% to $4,319.09 per ounce by 0429 GMT. Prices fell about 3% on Friday, hitting the lowest since March 24. US gold futures for August delivery were down 0.5% at $4,343.20.
20:50 (IST) Jun 08
Gold slips below Rs 1.59 lakh/10g amid fresh West Asia tensions
Gold prices fell Rs 1,100 to Rs 1.58 lakh per 10 grams in the national capital on Monday, as investors dumped precious metals amid rising crude oil rates following fresh escalating tensions in West Asia.
According to local marketmen, the price of gold of 99.9 per cent purity declined by Rs 1,100 to Rs 1,58,800 per 10 grams (inclusive of all taxes) from Friday's closing level of Rs 1,59,900 per 10 grams.
Silver also remained under intense selling pressure, plunging Rs 5,000 to Rs 2,55,700 per kg, extending losses for the fourth consecutive session. The white metal has shed Rs 15,300, or nearly 6 per cent, from Rs 2.71 lakh per kg recorded on June 2.
According to local marketmen, the price of gold of 99.9 per cent purity declined by Rs 1,100 to Rs 1,58,800 per 10 grams (inclusive of all taxes) from Friday's closing level of Rs 1,59,900 per 10 grams.
Silver also remained under intense selling pressure, plunging Rs 5,000 to Rs 2,55,700 per kg, extending losses for the fourth consecutive session. The white metal has shed Rs 15,300, or nearly 6 per cent, from Rs 2.71 lakh per kg recorded on June 2.
19:20 (IST) Jun 08
Bengaluru closing bullion rates
Gold (22 kt): Rs 14,320 per gram.
Gold (24 kt): Rs 15,620 per gram.
18:23 (IST) Jun 08
Gold edges higher, silver steady in Mumbai bullion market
Mumbai bullion prices showed a steady-to-firm trend on June 8, 2026, with both gold and silver holding key levels in domestic trading.
Silver spot was quoted at Rs 2,44,300 per kilogram, reflecting stable demand in the physical market.
In gold, standard gold (99.5 purity) closed at Rs 1,50,882, while pure gold (99.9 purity) was priced at Rs 1,51,489, indicating a slight premium for higher purity metal in line with market norms.
17:09 (IST) Jun 08
Gold hits more than two-month low as strong US jobs data boosts rate-hike bets
Gold prices hit a more than two-month low on Monday after last week's strong U.S. jobs data boosted expectations of a Federal Reserve rate hike, and as Israel and Iran traded strikes, pushing oil prices higher and fuelling inflation concerns.
Spot gold was down 0.4% at $4,313.99 per ounce by 1115 GMT, after hitting its lowest level since March 23 earlier in the session. Prices fell by more than 3% on Friday.
16:30 (IST) Jun 08
Gold drops Rs 1,100, silver extends slide as oil surge stokes inflation fears
Gold prices declined by Rs 1,100 to Rs 1.58 lakh per 10 grams in the national capital on Monday, tracking losses in global markets amid rising crude oil rates and heightened concerns over inflation.
According to local marketmen, the yellow metal of 99.9 per cent purity dropped Rs 1,100 to Rs 1,58,800 per 10 grams (inclusive of all taxes) from Friday's closing level of Rs 1,59,900 per 10 grams.
Silver also remained under pressure, falling Rs 5,000 to Rs 2,55,700 per kilogram (inclusive of all taxes). The white metal had settled at Rs 2,60,700 per kg in the previous session.
According to local marketmen, the yellow metal of 99.9 per cent purity dropped Rs 1,100 to Rs 1,58,800 per 10 grams (inclusive of all taxes) from Friday's closing level of Rs 1,59,900 per 10 grams.
Silver also remained under pressure, falling Rs 5,000 to Rs 2,55,700 per kilogram (inclusive of all taxes). The white metal had settled at Rs 2,60,700 per kg in the previous session.
14:56 (IST) Jun 08
Gold Rate Today: Gold tumbles on strong US job data and escalating Middle East tensions
Spot gold slumped on Friday on stronger than expected US monthly job report for May that boosted the probability of a Fed rate hike by the year-end.
US employers added 172K jobs in May, nearly twice of the estimate of 88K jobs. Two-month payroll revision was 93K, a sharp variation from the trend of hefty job revisions. Unemployment rate was steady at 4.3%, respectively.
The yellow metal crashed through the crucial support around $4425 to close with a loss of 3.29% at $4339.
Today, the metal has extended its loss as oil has bounced back on possibility of resumption of the Iran war. Israel and Iran trade strikes that threatens fragile ceasefire. Yemen's Houthis launched a missile on Israel and threaten to disrupt shipping through the Red Sea.
Gold, currently trading near 1.2% lower at $4289, is in danger of testing the cycle low of $4099. Interim support is at $4250. Resistance is at $4366/$4410, says Praveen Singh Head of Commodities at Mirae Asset ShareKhan.
US employers added 172K jobs in May, nearly twice of the estimate of 88K jobs. Two-month payroll revision was 93K, a sharp variation from the trend of hefty job revisions. Unemployment rate was steady at 4.3%, respectively.
The yellow metal crashed through the crucial support around $4425 to close with a loss of 3.29% at $4339.
Today, the metal has extended its loss as oil has bounced back on possibility of resumption of the Iran war. Israel and Iran trade strikes that threatens fragile ceasefire. Yemen's Houthis launched a missile on Israel and threaten to disrupt shipping through the Red Sea.
Gold, currently trading near 1.2% lower at $4289, is in danger of testing the cycle low of $4099. Interim support is at $4250. Resistance is at $4366/$4410, says Praveen Singh Head of Commodities at Mirae Asset ShareKhan.
14:55 (IST) Jun 08
Gold Rate Today: Gold prices tumble
Gold prices weakened in the national capital on Monday, falling by Rs 1,100 per 10 grams as weakness in international bullion markets, coupled with rising crude oil prices and renewed inflation concerns, weighed on sentiment.
According to local market participants, gold of 99.9% purity was quoted at Rs 1,58,800 per 10 grams, inclusive of taxes, compared with Rs 1,59,900 per 10 grams at the previous close.
Silver also extended its decline, dropping Rs 5,000 to Rs 2,55,700 per kilogram, inclusive of taxes. The metal had ended the previous session at Rs 2,60,700 per kilogram.
Market experts said the latest correction reflects the challenges precious metals have been facing in recent sessions. Investors appear increasingly concerned about the inflationary implications of rising energy prices, which has shifted attention away from bullion's traditional role as a safe-haven asset.
As a result, higher crude oil prices and the prospect of tighter monetary conditions have continued to put pressure on gold and silver, despite the broader uncertainty in global markets.
According to local market participants, gold of 99.9% purity was quoted at Rs 1,58,800 per 10 grams, inclusive of taxes, compared with Rs 1,59,900 per 10 grams at the previous close.
Silver also extended its decline, dropping Rs 5,000 to Rs 2,55,700 per kilogram, inclusive of taxes. The metal had ended the previous session at Rs 2,60,700 per kilogram.
Market experts said the latest correction reflects the challenges precious metals have been facing in recent sessions. Investors appear increasingly concerned about the inflationary implications of rising energy prices, which has shifted attention away from bullion's traditional role as a safe-haven asset.
As a result, higher crude oil prices and the prospect of tighter monetary conditions have continued to put pressure on gold and silver, despite the broader uncertainty in global markets.
12:52 (IST) Jun 08
Gold Rate Today: Mumbai bullion opening rates
Silver spot (in Rs per kilo): 241160.00
Standard gold (99.5) : 150164.00
Pure gold (99.9) : 150768.00
Standard gold (99.5) : 150164.00
Pure gold (99.9) : 150768.00
11:07 (IST) Jun 08
Gold Rate Today: How to trade gold
Jigar Trivedi of IndusInd Securities believes MCX Gold August futures could remain weak in the near term due to subdued global market sentiment. According to him, prices may drift towards the Rs 1,54,000 per 10 grams level, while Rs 1,56,000 per 10 grams is likely to be an important resistance point for intraday traders to monitor on Monday.
Manoj Kumar Jain of Prithvi Finmart said silver is expected to find support between $64.00 and $66.60 per troy ounce during the current session. On the higher side, he identified the $71.40-$74.00 per troy ounce zone as the key resistance range.
For domestic markets, Jain expects gold to receive support in the Rs 1,53,150-Rs 1,54,400 per 10 grams band, while resistance is seen between Rs 1,56,600 and Rs 1,57,400. In the case of silver, he has placed support levels at Rs 2,36,650-Rs 2,42,400 per kilogram and resistance at Rs 2,53,500-Rs 2,57,700 per kilogram.
Jain's trading strategy favours accumulating silver around Rs 2,38,000 per kilogram. He recommends maintaining a stop-loss at Rs 2,32,000 while targeting an upside move towards Rs 2,51,000.
Manoj Kumar Jain of Prithvi Finmart said silver is expected to find support between $64.00 and $66.60 per troy ounce during the current session. On the higher side, he identified the $71.40-$74.00 per troy ounce zone as the key resistance range.
For domestic markets, Jain expects gold to receive support in the Rs 1,53,150-Rs 1,54,400 per 10 grams band, while resistance is seen between Rs 1,56,600 and Rs 1,57,400. In the case of silver, he has placed support levels at Rs 2,36,650-Rs 2,42,400 per kilogram and resistance at Rs 2,53,500-Rs 2,57,700 per kilogram.
Jain's trading strategy favours accumulating silver around Rs 2,38,000 per kilogram. He recommends maintaining a stop-loss at Rs 2,32,000 while targeting an upside move towards Rs 2,51,000.
10:01 (IST) Jun 08
Gold Rate Today: Gold, silver prices drop
Gold and silver prices started the week on a weak note on the Multi Commodity Exchange (MCX), with both precious metals witnessing sharp declines on Monday. Rising tensions in the Gulf region pushed crude oil prices higher, reviving concerns over inflation, while stronger-than-expected economic readings from the United States strengthened expectations that interest rates may remain elevated for an extended period.
In domestic trading, silver futures for July 2026 delivery dropped Rs 5,537, or 2.23%, to Rs 2,43,000 per kilogram. Gold futures for August 2026 delivery fell Rs 1,792, or 1.15%, to Rs 1,53,802 per 10 grams. The weakness followed heavy losses in the previous session, when silver tumbled nearly 7% and gold declined by more than 2%.
Market sentiment was also influenced by fresh developments in West Asia. According to a report by Axios, US President Donald Trump said on Sunday that he intended to urge Israeli Prime Minister Benjamin Netanyahu to avoid retaliatory action after Iran launched multiple missiles at Israeli targets. The strikes were reportedly carried out in response to an attack near Beirut.
While gold is often viewed as a preferred refuge during periods of inflation and uncertainty, higher interest rates can reduce its attractiveness because the metal does not generate any yield. Investors are increasingly weighing the possibility of tighter monetary policy in the United States, with market expectations pointing towards a potential Federal Reserve rate increase before year-end.
Data from CME Group's FedWatch tool currently suggests a 51% probability that the US central bank could raise rates by December, a factor that continues to influence sentiment across precious metals markets.
In domestic trading, silver futures for July 2026 delivery dropped Rs 5,537, or 2.23%, to Rs 2,43,000 per kilogram. Gold futures for August 2026 delivery fell Rs 1,792, or 1.15%, to Rs 1,53,802 per 10 grams. The weakness followed heavy losses in the previous session, when silver tumbled nearly 7% and gold declined by more than 2%.
Market sentiment was also influenced by fresh developments in West Asia. According to a report by Axios, US President Donald Trump said on Sunday that he intended to urge Israeli Prime Minister Benjamin Netanyahu to avoid retaliatory action after Iran launched multiple missiles at Israeli targets. The strikes were reportedly carried out in response to an attack near Beirut.
While gold is often viewed as a preferred refuge during periods of inflation and uncertainty, higher interest rates can reduce its attractiveness because the metal does not generate any yield. Investors are increasingly weighing the possibility of tighter monetary policy in the United States, with market expectations pointing towards a potential Federal Reserve rate increase before year-end.
Data from CME Group's FedWatch tool currently suggests a 51% probability that the US central bank could raise rates by December, a factor that continues to influence sentiment across precious metals markets.
08:04 (IST) Jun 08
Gold Rate Today: Near term outlook
Pranav Mer, Vice President, EBG – Commodity & Currency Research at JM Financial Services, said the near-term trend for gold and silver continues to appear corrective.
Mer noted that both gold and silver faced heavy selling pressure in overseas markets last week. He attributed the weakness to stronger-than-expected US manufacturing and labour market data, which reinforced expectations that interest rates could remain elevated for longer. A firm US dollar and continued outflows from exchange-traded funds also added to the pressure on bullion prices.
Mer noted that both gold and silver faced heavy selling pressure in overseas markets last week. He attributed the weakness to stronger-than-expected US manufacturing and labour market data, which reinforced expectations that interest rates could remain elevated for longer. A firm US dollar and continued outflows from exchange-traded funds also added to the pressure on bullion prices.
08:04 (IST) Jun 08
Silver Rate Today: Spot silver falls
Spot silver fell 0.4% to $67.52 per ounce, platinum declined 0.2% to $1,773.69, while palladium advanced 0.5% to $1,231.51 per ounce.
08:04 (IST) Jun 08
Gold Rate Today: Physical demand remains weak in India
Elsewhere, data released by the People's Bank of China showed that the country's central bank expanded its gold holdings for a nineteenth straight month in May, with reserves increasing to 74.96 million fine troy ounces.
Physical demand remained subdued in India last week as buyers stayed cautious amid volatile international prices. In China, premiums on gold eased slightly.
Market positioning data showed that speculative investors increased their net long exposure in gold by 14,409 contracts to 111,341 contracts during the week ended June 2.
Physical demand remained subdued in India last week as buyers stayed cautious amid volatile international prices. In China, premiums on gold eased slightly.
Market positioning data showed that speculative investors increased their net long exposure in gold by 14,409 contracts to 111,341 contracts during the week ended June 2.
08:04 (IST) Jun 08
Gold Rate Today: Oil prices climb
Oil prices climbed by more than $2 a barrel, intensifying market worries that higher energy costs could feed inflation and strengthen the case for additional interest rate increases.
Cleveland Federal Reserve President Beth Hammack said on Friday that recent employment data pointed to a labour market that remains close to full employment. She also indicated that persistently elevated inflation could require the Federal Reserve to consider raising rates in the near future.
Recent economic data showed the US economy recorded a third consecutive month of robust job creation in May, suggesting that labour market conditions have strengthened after last year's slowdown. The trend is seen as giving the Fed greater flexibility to maintain a restrictive policy stance as inflation risks increase amid the Iran conflict.
Cleveland Federal Reserve President Beth Hammack said on Friday that recent employment data pointed to a labour market that remains close to full employment. She also indicated that persistently elevated inflation could require the Federal Reserve to consider raising rates in the near future.
Recent economic data showed the US economy recorded a third consecutive month of robust job creation in May, suggesting that labour market conditions have strengthened after last year's slowdown. The trend is seen as giving the Fed greater flexibility to maintain a restrictive policy stance as inflation risks increase amid the Iran conflict.
08:04 (IST) Jun 08
Gold Rate Today: Gold prices extend decline
Gold prices continued to weaken on Monday, extending the decline seen in the previous session as investors grappled with growing expectations of higher US interest rates. At the same time, escalating tensions in the Gulf region pushed crude oil prices higher, adding to concerns that inflationary pressures could remain elevated.
By 0124 GMT, spot gold was down 0.2% at $4,321.49 per ounce. The precious metal had already fallen around 3% on Friday, touching its lowest level since March 24 after stronger-than-expected US employment data reinforced expectations of further monetary tightening. US gold futures for August delivery slipped 0.5% to $4,345.60 per ounce.
By 0124 GMT, spot gold was down 0.2% at $4,321.49 per ounce. The precious metal had already fallen around 3% on Friday, touching its lowest level since March 24 after stronger-than-expected US employment data reinforced expectations of further monetary tightening. US gold futures for August delivery slipped 0.5% to $4,345.60 per ounce.
Gold, Silver Rate Today Live Updates: Gold and silver could remain under pressure if international gold prices stay below the $4,400-4,500 per ounce range. According to some analysts the near-term trend for gold and silver continues to appear corrective. Gold came under pressure last week as surging crude oil prices shifted investor focus away from traditional safe-haven assets.
The appreciation of the rupee against the US dollar further weighed on domestic precious metal prices. The stronger currency reduced the impact of supportive global gold prices, causing local bullion to underperform international markets.
Globally, Comex gold futures dropped $227.7, or about 5%, to settle at $4,365 per ounce last week. Silver recorded an even steeper decline, losing $6.77, or nearly 9%, to end at $69.10 per ounce.
Gold posted a weekly decline of nearly 5%, while silver tracked the broader correction seen across industrial metals.
(Disclaimer: Recommendations and views on the stock market, other asset classes or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times of India.)
The appreciation of the rupee against the US dollar further weighed on domestic precious metal prices. The stronger currency reduced the impact of supportive global gold prices, causing local bullion to underperform international markets.
Globally, Comex gold futures dropped $227.7, or about 5%, to settle at $4,365 per ounce last week. Silver recorded an even steeper decline, losing $6.77, or nearly 9%, to end at $69.10 per ounce.
Gold posted a weekly decline of nearly 5%, while silver tracked the broader correction seen across industrial metals.
(Disclaimer: Recommendations and views on the stock market, other asset classes or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times of India.)
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