Gold Rate In India Down By Rs 19,100 In 3 Days; 24K, 22K, 18K Gold Prices; Gold Outlook For June 10 To June 11

Gold rates in India has witnessed a sharp decline since the weekend and June 9th was no different. In past three days, the price of 100 grams in 24 carat gold, has plunged by 19,100. The 10 grams gold prices are below Rs 98,000 and Rs 90,000 levels in 24 carat and 22 carat respectively. Meanwhile, MCX gold is struggling to hold Rs 97,100 mark. The price action in yellow metal remains fragile on June 10.

For the entire week from June 9th to June 13th, MCX gold and silver prices are expected to trend from Rs 97000-102000 and 102000-112000 respectively.

Gold Price Outlook For June 10:

"Overall, the price action remains fragile as long as gold trades below the key resistance levels of Rs 98,000 in MCX and $3350 in Comex. Any setback or negative outcome from the trade negotiations may renew safe-haven demand, potentially driving prices back toward Rs 98,000," said Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities.

MCX Gold, Silver Prices:

MCX gold price, with August 2025 expiry, ended at Rs 97,170 per 10 grams, broadly flat but in red on June 9th. On the other hand, MCX silver, with July 2025 expiry, edged higher mildly to close at Rs 1,07,105 per 1kg.

Silver has outperformed gold since the start of this month. On June 9th, silver touched a new all-time high of Rs 1,07,171 per 1kg before correcting slightly on the closing bell.

Gold Prices In India:

A similar trend has been recorded in gold prices across Indian retail stores. 24 carat gold prices in 100 grams and 10 grams slipped by Rs 2800 and Rs 280 to Rs 9,76,900 and Rs 97,690 levels on Monday, June 9th. Further, 22 carat gold price dropped by Rs 2500 and Rs 250 in 100 grams and 10 grams to close at Rs 8,95,500 and Rs 89,550.

This comes after gold rates were unchanged on June 8th, but crashed sharply on June 7th. Over the weekend on Saturday, 24-carat gold prices declined by Rs 16,300 in 100 grams and Rs 1,630 in 10 grams.

From June 7th to June 9th, gold prices have plummeted by Rs 19,100 and Rs 1,910 in 24-carat gold for 100 grams and 10 grams.

Silver Rates In India:

Silver prices in India touched new peaks, unlike gold. The price of 1 kg of silver is Rs 1,08,100, while the prices of 10 grams and 100 grams of silver are Rs 1,081 and Rs 10,810, respectively.

Gold, Silver Prices Weekly Outlook For June 9-13:

Last week, gold prices climbed by at least 2.5% in both domestic and global markets. However, silver rates outperformed, with an 8% upside owing to weak US economic data and heightened hopes of a rate cut from the US Federal Reserve in the coming September 2025 policy.

In its weekly report, SMC Global Securities highlighted that last week's performance was despite global gold exchange-traded funds (ETFs), including those in India, witnessing net outflows of $1.8 billion in May. This marks the first monthly outflow since November 2023, ending a five-month inflow streak, according to the World Gold Council. As a result, total global gold ETF holdings fell by 19 tonnes to 3,541 tonnes, with assets under management declining
1% to $374 billion.

Furthermore, SMC's note explained that U.S. economic indicators further fueled safe-haven demand. Initial jobless claims rose to their highest level since October 2024, while first-quarter productivity was revised lower. The trade deficit narrowed due to a decline in imports. Adding to the volatility is the renewed uncertainty in global trade. Although U.S. President Donald Trump and Chinese President Xi Jinping have agreed to resume talks, details remain vague.

However, for the current week, SMC's note added that optimism over easing trade tensions provided some relief. Simultaneously, the U.S. decision to double tariffs on steel and aluminium imports to 50% has reignited fears of trade frictions with key partners.

On Comex, the analysts at SMC predict a sustained breakout above the $3,420 level could open the door to $3,580, with key support at $3,320 and $3,260. Silver has broken out of a 13-year range and is now eyeing $45, with support near $34. Domestically, gold may find support near Rs 94,400 and face resistance at Rs 1,02,000, while silver could trade between Rs 96,400 and Rs 1,12,000 in the near term. Notably, the gold-silver ratio, which earlier traded at 106, has now dropped to 93, indicating silver's strong outperformance over gold.

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