India gold prices slip as West Asia tensions and a stronger rupee weigh on market

Gold prices in India fell sharply on June 5‑6, with the benchmark 10‑gram rate in Delhi dropping to about Rs 1.59 lakh and the 8‑gram sovereign price in Chennai sliding to Rs 1.13 lakh. The decline followed a week of volatility driven by shifting geopolitical signals from West Asia and a firmer rupee after the Reserve Bank of India kept its repo rate unchanged and announced measures to attract foreign capital. Analysts said the metal was pressured by “weakness in the international market and additional pressure from a sharp recovery in the rupee.”

Silver also fell, losing roughly Rs 10 per gram in Chennai and about 1 % in international markets. The price moves reflect broader investor caution as US interest‑rate expectations remain elevated and diplomatic optimism around Washington‑Tehran talks wanes after Hezbollah rejected a cease‑fire proposal.