Gold and Silver Prices Today, June 10: On Wednesday, June 10, gold prices traded under pressure because of weakness in global bullion markets. Global spot gold touched an 11-week low while traders on Multi Commodity Exchange (MCX) watched out for fresh cues from US dollar, crude oil and Middle East geopolitical issues.
At a time when wedding-season demand and investment appetite from consumers continues to support gold and silver in Indian markets, falling global bullion prices will be something of an advantage for them.
MCX gold futures saw continued volatility after the sharp fall. Over the last few days, MCX gold has hovered around Rs 1.54 lakh per 10 gm and silver futures near Rs 2.44 lakh per kg levels, with both markets witnessing extreme volatility.
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Global gold rates suffered heavy losses Wednesday. Spot gold plummeted nearly 2 percent at around $4,188 per ounce- its cheapest in over two months. US gold futures, too, moved south after new Middle East flare-up and firmer US dollar.
Silver, platinum and palladium traded in the red at global levels and contributed to the across-the-board weakness in precious metals.
Following market trends, 24-carat gold prices per 10 gm ranged from Rs 1.52 lakh to Rs 1.55 lakh in metropolitan areas, and the same amount of 22-carat gold sold at Rs 1.40 lakh-Rs 1.42 lakh.
Mumbai
Chennai
Bengaluru
Domestic silver rates were largely seen near ₹2.60 lakh to ₹2.65 lakh per kilogram, though prices continued to fluctuate based on MCX movements and international spot trends. Recent sessions have witnessed sharp corrections followed by recovery attempts.
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