Gold Rate In India Climbed After Rs 20,200 Drop In 4 Days; Will Yellow Metal Rise Or Fall On June 12?

Gold rates in India made a sharp jump on Wednesday, June 11, after falling by Rs 2,020 in 10 grams and Rs 20,200 in 100 grams of 24 carats from June 7th-10th. On June 12, yellow metal is expected to be driven by the performance of US CPI data, which rose for the first time in four months, to a staggering 2.4% in May 2025.

However, despite the slight surge, US CPI data is still below market expectations of 2.5%.

Gold Prices In India:

Yellow metal in India tracked the upward trend in international gold prices on cooler-than-expected US inflation.

On June 11, 24 carat gold price stood at Rs 98,400 in 10 grams, up by Rs 820. While 100 grams gold price in the same carat was at Rs 9,84,000, higher by whopping Rs 8,200.

Also, the 22-carat gold price stood at Rs 90,200 in 10 grams, up by Rs 750. Additionally, 100 grams of gold price in 22 carats climbed by Rs 7,500 to Rs 9,02,000.

The prices rebounded after being under pressure since June 7th. On June 10th, 24-carat gold prices in 10 grams and 100 grams slipped by Rs 110 and Rs 1100 respectively. At the same time, prices plunged by Rs 280 and Rs 2800 on June 9th. Gold prices were unchanged across carats on June 8th. However, on June 7th, gold prices in 10 grams and 100 grams nosedived by Rs 1630 and Rs 16300 in 24 carats respectively.

Accordingly, the price of 100 grams of 24-carat gold plunged by Rs 20,200 from June 7 to 10, while the price of 10 grams of gold dipped by Rs 2,020 before rising.

Silver Prices In India:

Meanwhile, silver prices in India calmed their winning streak, halting at a record high of Rs 1,09,000 per 1kg. Silver rates have gained by Rs 1,000 each on June 10th and June 9th. Currently, 100 grams and 10 grams of silver prices stand at Rs 10,900 and Rs 1,090 respectively.

MCX Gold, Silver Prices:

MCX gold price surged marginally to close at Rs 96,725 per 10 grams on June 11. The bullion with an August 2025 expiry, ranged from Rs 97,655 to Rs 96,612 per 10 grams on Wednesday.

Moreover, MCX silver, with a July 2025 expiry, calmed to end at Rs 1,05,333 per 1kg on June 11, pulling back from their record high level of Rs 1,07,369 per 1kg.

What Will Impact Gold Prices On Thursday, June 12?

Spot gold is above $3,330 per ounce level. On Wednesday, the comex surged by 1% from its previous session. As per Trading Economics data, this was due to cooler-than-expected US inflation data reinforced expectations that the Federal Reserve could begin cutting interest rates by September.

In addition to this, the Trading Economics data also added, that investors kept a close eye on US-China trade developments. Officials from both countries announced a framework agreement aimed at restoring their trade truce, which includes lifting Chinese export restrictions on rare earths. However, the deal still awaits formal approval from both governments. Adding to broader uncertainty, a US federal appeals court ruled that sweeping tariffs will remain in effect while it reviews a lower court decision that challenged the president's authority to impose them.

The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.1 percent on a seasonally adjusted basis in May, after rising 0.2 percent in April, the U.S. Bureau of Labor Statistics reported. Over the last 12 months,
the all items index increased 2.4 percent before seasonal adjustment.

Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities said, "The inflation reading will likely guide the next directional move in gold, with key levels to watch at $3360 on the upside and $3300 on the downside. Major technical support is seen near $3290, while resistance stands at $3375."

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