Gold, Silver Rate Today June 12: Gold and silver prices witnessed sharp volatility on Friday as investors reacted to developments in the Middle East, movements in crude oil prices and changing expectations around US Federal Reserve interest rates. While bullion had been under pressure earlier this week, both precious metals recovered strongly in domestic futures trading.
MCX Gold futures climbed towards the psychologically important ₹1.50 lakh per 10 grams mark, while silver prices surged sharply, extending gains for the second straight session.
MCX Gold Price Today
Gold futures on the Multi Commodity Exchange (MCX) traded around ₹1,50,000 per 10 grams, recovering from recent weakness seen earlier in the week. Spot gold was down 0.5% at $4,191.17 per ounce, as of 0252 GMT, and was set for a weekly loss of 3.2%. U.S. gold futures for August delivery rose 2.4% to $4,212.70.
Reuters reported that spot gold was heading for a weekly loss of nearly 2.8%, highlighting the pressure on precious metals from inflation-driven rate-hike expectations.
MCX Silver Price Today
MCX Silver prices jumped by approximately ₹3,200 per kilogram during Friday’s session, while broader market reports indicated that silver has gained nearly ₹10,000 per kg in just two trading sessions. Spot silver fell 0.4% to $67.10 per ounce, and platinum gained 0.7% to $1,731.40, with both metals headed for a weekly loss, while palladium rose 1.6% to $1,289.33, and gained about 5% for the week so far.
Gold and Silver ETFs Under Pressure
Exchange Traded Funds (ETFs) have mirrored the volatility seen in bullion markets. Recent corrections in underlying metal prices led to declines across several precious-metal ETF schemes. Investors are increasingly evaluating the impact of global interest-rate expectations and geopolitical developments before increasing allocations to bullion-linked funds.
Gold, Silver Rate Today June 12
- Delhi: ₹1,45,000 – ₹1,50,000| ₹1,33,000 – ₹1,38,000
- Mumbai: ₹1,45,000 – ₹1,49,000| ₹1,33,000 – ₹1,37,000
- Kolkata: ₹1,45,000 – ₹1,49,000| ₹1,33,000 – ₹1,37,000
- Chennai: ₹1,47,000 – ₹1,50,000| ₹1,35,000 – ₹1,38,000
- Bengaluru: ₹1,45,000 – ₹1,49,000| ₹1,33,000 – ₹1,37,000
Silver Rate Today
Silver prices in major Indian cities were trading in the range of ₹2.30 lakh to ₹2.40 lakh per kilogram, depending on regional demand and local market conditions.
The price is “completely being driven by the geopolitical headlines,” said Edward Meir, an analyst at Marex.
“The markets will be paying attention to any signal that the Fed could raise rates, and if they hint at moving in that direction, I think gold could probably break below the $4,000 mark.”
