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Gold and silver prices edged higher on Wednesday, June 12, 2025, tracking firm global cues. On the Multi Commodity Exchange (MCX), gold futures surged by 1.28% to Rs 97,981 per 10 grams, rising Rs 1,240. Silver futures also gained 0.7% to Rs 1,06,135 per kilogram, up Rs 743 from the previous session.

The uptick came amid growing geopolitical unrest in the Middle East and a sharp dip in the U.S. dollar index, which hit a near two-month low. This boosted the appeal of precious metals for international buyers.

Globally, spot gold was trading 0.7% higher at $3,375.06 per ounce, while U.S. gold futures rose 1.5% to $3,395. A weaker dollar and expectations of rate cuts by the Federal Reserve after cooler-than-expected U.S. CPI data supported gold’s upward trajectory.

Kelvin Wong, Senior Market Analyst, Asia Pacific at OANDA, said, “The weakness in the dollar triggered a bullish breakout above the $3,346 resistance, prompting technical buying. Rising Middle East tensions have also renewed demand for safe-haven assets.”

In India, Manoj Jain, Director at India Nivesh, noted that gold and silver closed mixed in the previous session but are showing strong support levels due to escalating geopolitical risks and the drop in the dollar index. He predicts gold may soon test the $3,400 resistance level and advises buying silver around Rs 1,05,000 with a stop loss of Rs 1,04,400 for a target of Rs 1,06,650.

Meanwhile, silver prices in the international market stood at $36.38 per ounce, up 0.4%, while platinum rose 1.3% to $1,272.50. Palladium, however, dropped 1% to $1,068.92 per ounce.

The U.S. dollar index closed lower at 98.612 on Wednesday, down 0.41%, weighed by global uncertainties and weak inflation data. The USD-INR June 26 futures settled at 85.5700, down 0.09%, reflecting rupee strength. Analysts expect the dollar index to remain volatile, trading between 96.80 and 101.35 this week, with the rupee likely fluctuating in the range of 84.40 to 86.80.

The broader outlook for gold and silver remains positive amid global market instability, looming U.S. Producer Price Index data, and renewed tensions between the U.S. and Iran.

City

24K

22K

Mumbai

Rs 9,928

Rs 9,100

Delhi

Rs  9,943

Rs 9,115

Chennai

Rs  9,928

Rs 9,100

Kolkata

Rs  9,928

Rs 9,100 

Bengaluru

Rs  9,928

Rs 9,100 

In Mumbai, the price of 24-karat gold stood at Rs 9,928 per gram, while 22-karat gold was priced at Rs 9,100 per gram.

The national capital recorded 24K gold at Rs 9,943 per gram, with 22K gold available at Rs 9,115 per gram.

Gold rates in Chennai were slightly lower, with 24K gold at Rs 9,928 per gram and 22K gold at Rs 9,100 per gram.

In Kolkata, 24-karat gold was priced at Rs 9,928 per gram, and 22-karat gold was selling at Rs 9,100 per gram.

Bengaluru saw 24K gold trading at Rs 9,928 per gram, while 22K gold was available at Rs 9,100 per gram.

Pune saw 24K gold trading at Rs 9,928 per gram, while 22K gold was available at 9,100 per gram

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