BIG JUMP In Gold Price Today: 24K, 22K, 18K Gold Rates Soar in Chennai & Bangalore Amid Israel-Iran Conflict

Gold Rate Today: Last three days have been quite bullish for yellow metal as gold rate in india and other cities surged consecutively and are now trading at the all time high Gold prices have once again crossed the Rs. 1 lakh mark for 24K gold per 10 grams, hitting an all-time high. The sharp rise in gold prices comes amid escalating geopolitical tensions in the Middle East, as Israeli military strikes on Iran push global investors toward safe-haven assets. On Friday, gold climbed to its highest level in nearly two months and is on track for a strong weekly gain.

Gold Rate in Chennai Today

As of Friday, June 13th, the 24-carat gold rate in Chennai rallied by Rs. 2120 per 10 grams to cost Rs. 1,01,400 per 10 grams. While the 22-carat gold prices in Chennai today spiked by Rs. 1950 and currently cost Rs. 92,950 per 10 grams. Even the 18-carat gold rate today declined by Rs. 1700 per 10 grams to cost Rs. 76,500.

Gold rate in Bangalore today

In a similar manner, the 24-carat gold prices in Bangalore jumped by Rs. 2120 to retail at Rs. 1,01,400 per 10 grams. The 22-carat gold rate in Bangalore now stands at Rs. 92,950 per 10 grams after rising Rs. 1950. Likewise, the 18-carat gold rate surged by Rs. 1700, and the current rate is at Rs. 76,500 per 10 grams.

Gold Price Outlook

"Gold prices are expected to test Rs. 100000-Rs. 100500. One can buy at Rs. 99,400 with a stop loss of Rs. 99,000," as per Nirmal Bang Securities.

"Gold rose on Thursday after another soft inflation report bolstered bets that the Federal Reserve may need to cut interest rates later this year. US producer price inflation remained muted in May across the board, another sign that tariffs have yet to result in higher prices for consumers and businesses. Meanwhile, a jobs report showed recurring applications for US unemployment benefits rose to the highest since the end of 2021, adding to evidence that it is taking unemployed Americans longer to find a new job." The report further stated.

MCX Gold and Silver Futures Update, June 13

On the Multi Commodity Exchange (MCX), gold futures slated to mature on August 5th are trading at Rs 99,798, rising by 1.43%. Similarly, silver futures, which are set to expire on July 4, 2025, jumped by 0.47% and are trading at Rs. 1,06,384 at the time of writing on June 13.

As per the ICICI Commodity Report, "MCX Gold Aug is expected to rise towards Rs. 99,300 as long as it trades above the Rs. 97,500 level. A move above Rs. Rs.99,300 would take the price towards the Rs. 100,000 mark. MCX Silver July is expected to rise towards the Rs.107,400 level, as long as it holds above the Rs.104,000 level. Only below Rs. 104,000, it would turn bearish."

Spot Gold Prices + Spot Silver Price Today

As per the latest Reuters commodity report, "Spot gold was up 1.2% at USD 3,423.30 an ounce, as of 05:44 GMT, after hitting its highest since April 22 earlier in the session. Bullion has gained more than 3.4% so far this week. U.S. gold futures gained 1.2% to USD 3,444.50. Spot silver fell 0.3% at USD 36.25 per ounce."

"Spot gold has breached the psychological mark at USD 3400 and moved higher. It is expected to extend its rally towards USD USD3450. A break above USD 3450 would open the doors towards USD 3500. Escalating geopolitical tension in the Middle East would bring safe haven demand in the bullions." According to the ICICI Commodity Report

Silver Rate in Chennai Today

Silver prices in Chennai today surged sharply after a slight decline was seen yesterday. On June 13th, 1 kg of silver in Chenani costs Rs 120,000 after jumping Rs 1,100. While 100 g of silver rates in India cost Rs 12,000, which rose Rs 110.

Silver Rate in Bangalore Today

The silver rate in Bangalore today jumped similarly to Chennai. At present, 1 kg of silver in Bangalore costs Rs. 1,10,000, which surged by Rs. 1100. While 100 g of silver rates in India cost Rs 11,000 after rising Rs 110.

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