Gold rates in India have surged to unprecedented levels, with 24-carat gold reaching ₹1,01,680 per 10 grams as of June 15, 2025. Over the five-day period from June 11 to June 15, prices for 100 grams of 24-carat gold jumped by a striking ₹41,000, while the 10-gram benchmark climbed by ₹4,100.
For the upcoming trading week of June 16 to June 20, analysts predict gold prices on the Multi Commodity Exchange (MCX) to fluctuate between ₹95,500 and ₹1,06,000. Silver is also expected to maintain its momentum, with projected trading levels ranging from ₹1,00,000 to ₹1,10,000 per kilogram. Market experts attribute this bullish trend largely to escalating geopolitical tensions between Israel and Iran.
Current Gold and Silver Price Levels
As of June 16, 2025, gold prices in India stand at:
- ₹1,01,680 per 10 grams for 24 carats
- ₹93,200 per 10 grams for 22 carats
- ₹76,260 per 10 grams for 18 carats
- For 100 grams, the rates are:
- ₹10,16,800 for 24 carats
- ₹9,32,000 for 22 carats
- ₹7,62,600 for 18 carats
Silver has also witnessed a sharp rise, gaining approximately 10% this month. On June 14 and 15, silver prices held steady at a record ₹1,10,000 per kilogram. The recent price surge followed Israel’s surprise attack on Iran’s military and nuclear facilities on June 13. Currently, silver trades at ₹11,000 per 100 grams and ₹1,100 per 10 grams, both new peaks.
MCX Gold and Silver Trading Highlights
On June 13, MCX gold futures for August 2025 hit a fresh intraday high of ₹1,00,681 per 10 grams, closing marginally lower at ₹1,00,314. Silver futures for July 2025 peaked at ₹1,06,940 per kilogram before settling at ₹1,06,474—close to the lifetime high of ₹1,07,369 recorded earlier.
Market Outlook Amid Rising Geopolitical Risks
According to the weekly commodities outlook by SMC Global Securities, “Gold has rallied strongly as investors seek safe-haven assets amid growing geopolitical and economic uncertainties.” The report highlights that Israel’s preemptive strike on Iran significantly intensified fears of a wider Middle East conflict. Israeli Defense Minister Israel Katz declared a state of emergency, warning of potential missile and drone attacks on civilian targets.
On the trade front, U.S. President Donald Trump hinted at unilateral tariff actions, although Treasury Secretary Scott Bessent suggested a possible extension of the current tariff pause. Meanwhile, softer-than-expected U.S. inflation data has increased expectations of Federal Reserve interest rate cuts, bolstering demand for non-yielding assets like gold.
Chris Zaccarelli, Chief Investment Officer at Northlight Asset Management, commented that recent inflation figures provide the Fed with room to observe how tariffs and trade negotiations affect price stability before making further moves.
Currency and Inflation Impact
The U.S. dollar weakened to its lowest level since April 2022 amid subdued inflation and geopolitical strains, losing nearly 10% against major currencies so far in 2025. May’s inflation slowdown was supported by falling costs in gasoline, housing, automobiles, and air transport. Additionally, producer prices reported by the U.S. Labor Department on June 12 declined unexpectedly, reinforcing gold’s appeal.
Weekly Price Projections for June 16–20
For the week ahead, SMC forecasts gold trading near record highs on COMEX, with a potential breakout above $3,520 possibly pushing prices to $3,650. Support is expected near $3,310. Silver remains bullish, likely to trade between $34 and $38 per ounce.
On MCX, gold is expected to range between ₹95,500 and ₹1,06,000, while silver could move from ₹1,00,000 to ₹1,10,000 per kilogram. Should these levels be breached, both metals will set new record highs.
Expert Commentary on June 16
Jateen Trivedi, Vice President and Research Analyst at LKP Securities, noted, “Gold prices surged sharply past ₹1,00,000 on MCX amid escalating geopolitical tensions, particularly Israel’s strikes on Iranian nuclear sites. Gains ranged between ₹1,500 to ₹1,900 as threats of retaliation raised fears of broader conflict. On COMEX, gold crossed $3,425, climbing $50, while the Indian price rose 2%, partly due to the rupee weakening 0.60 to ₹86.10. Key support is now at ₹98,000, with major resistance around ₹1,02,500 in the short term.”
Conclusion
Gold and silver prices in India are on a historic upswing, driven by geopolitical unrest and economic factors. Investors are closely monitoring developments between Israel and Iran, as well as global economic signals, that continue to shape precious metal markets. The coming week promises volatile yet potentially lucrative trading opportunities as metals challenge fresh all-time highs.
