India gold and silver prices surge in June amid global market shifts

Gold prices have fallen sharply from the January record high of $5,595 per ounce, dropping about 25 % to around $4,222 per ounce in international markets. In India, the MCX price of 10 g gold closed at roughly ₹1,50,675, reflecting the global decline.

After a brief dip, prices rebounded in mid‑June. On 13‑14 June, 24‑carat gold in major Indian cities rose to between ₹1,48,580 and ₹1,49,230 per 10 g, with city‑specific rates listed for Delhi, Mumbai, Kolkata, Chennai and others. Silver also jumped, reaching about ₹2,60,000 per kilogram. Analysts attribute the recovery to easing US‑Iran tensions, expectations of a Federal Reserve rate cut that could weaken the dollar, and a reduction in the base import price for gold and silver set by the Indian government. Ongoing Middle‑East tension and high crude‑oil prices continue to put upward pressure on precious‑metal prices.