Gold Price June 2026: Gold moved a little higher on June 22, but the mood stayed shaky because traders are still watching the stronger US dollar, the weaker rupee, and the next US jobs report. In India, spot gold rose by about Rs 2,000 to Rs 1,49,200 per 10 grams on MCX.
In the world market, spot gold bounced back above $4,210 an ounce and gained nearly $55 on Comex. MCX gold futures for the August contract also climbed 0.97% to Rs 1,48,633 per 10 grams, while silver futures for the July contract jumped 2.26% to Rs 2,38,452 per kilogram.
Jateen Trivedi, VP Research Analyst (Commodity & Currency) at LKP Securities, said, “Gold traded positively as rupee weakness supported domestic bullion prices.”
He also said, “Focus now shifts to this week’s US Non-Farm Payrolls and unemployment data.” He added that gold may stay volatile before the US employment numbers come out because dollar moves and rupee moves are both changing prices.
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The rupee also slipped lower. It weakened 0.5% against the US dollar and moved to 94.7, which helped support local gold prices even though the dollar stayed strong, reported Money Control. Market watchers are now waiting for the US labour data, because that report can push gold in a new direction very fast.
The Augmont Bullion report dated June 22 said last week’s precious metal trade was shaped by two big things. One was Kevin Warsh’s first FOMC meeting as Fed Chair. The other was the tense global picture, even after the US and Iran agreed to an interim ceasefire that started on June 19. The report also said ETF flows, which had been getting better through April, came under pressure again because traders started betting that interest rates may stay high for longer.
Augmont said gold has support around $4,050–$4,100 on Comex and resistance at $4,250. If gold moves clearly above that, the next possible target is $4,350. For silver, support was seen near $63 and the $60–$61 zone.
Resistance sits at $67, and a breakout could push it toward $70. The report also said the market is entering the week with a cautious-to-recovery mood because the May PCE inflation number, due on June 25, may decide the next move. A hotter reading could hurt gold more, while a softer reading could help it recover.
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India’s gold imports also fell sharply in May 2026. They were down 39% month on month to $3.4 billion, with estimated volumes of 25–30 tonnes. That was much lower than April’s 46 tonnes and below the two-year monthly average of 59 tonnes. Dr Renisha Chainani, Head of Research at Augmont, said the main reason was the May 2026 import duty hike from 6% to 15%, which reduced physical demand and pushed domestic prices about 13.2% higher year to date.
She also said gold ETFs had record net outflows of Rs 7.25 billion in May, but flows turned positive in early June with net inflows of Rs 16.31 billion between June 1 and June 11.
She also said recycling and old-gold exchange sales, which are now making up 60–70% of some retailers’ sales, will stay important during the slow June–July period.
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