Gold, Silver Prices Today, June 10, 2025: Gold drops Rs 738, Silver down Rs 499; check city-wise prices

Gold prices dipped sharply in Tuesday's session, dropping by up to Rs 738 per 10 grams, with the yellow metal trading at Rs 96,435 per 10 grams. Silver also witnessed a dip in July futures, falling 0.47% or Rs 499 to settle at Rs 1,06,588 per kilogram.

International Market Overview

On Monday, gold prices showed strength in the global markets, recovering from earlier losses, supported by a weaker US dollar and safe-haven demand. Spot gold rose 0.8% to $3,335.02 an ounce, rebounding after hitting a one-week low earlier in the day. US gold futures also climbed 0.2% to settle at $3,354.9.

A key driver behind gold's strength was the decline in the US dollar index, which fell 0.3%, making gold cheaper for holders of other currencies. Meanwhile, trade negotiations between the US and China resumed in London, offering both uncertainty and hope to investors. While a potential breakthrough in trade talks could momentarily dampen gold's appeal, analysts believe the broader macroeconomic conditions—slowing growth, expected rate cuts, and inflation concerns—are keeping demand for gold intact.

Bart Melek, Head of Commodity Strategies at TD Securities, said, “A weaker economy, likely interest rate cuts, and lower momentum on the risk appetite side is getting people to move into gold... and of course expectations of higher inflation.”

Geopolitical Tensions Support Gold

Beyond economic indicators, geopolitical uncertainty also played a role in gold’s momentum. Russia’s continued military advances in Ukraine’s Dnipropetrovsk region, under the claim of creating a "buffer zone," has renewed safe-haven buying.

In addition, investors are eyeing the upcoming US Consumer Price Index (CPI) data due on Friday, which could offer further clues into the Federal Reserve’s rate policy. Notably, China’s central bank continued its gold purchases for a seventh consecutive month in May, strengthening the long-term bullish case for the metal.

Silver and Other Precious Metals

Silver outperformed gold in percentage terms, gaining 2.1% to reach $36.71 per ounce. Platinum surged 3.7% to hit $1,212.82—its highest since May 2021—while palladium rose nearly 3% to $1,077.64 per ounce.

On the domestic front, silver July futures settled at Rs 1,07,087 per kg with a 1.54% gain. In contrast to Tuesday's correction, the week began with both gold and silver on a positive note, riding high on global cues and dollar weakness.

Price Outlook and Technical Levels

The precious metals market is expected to remain highly volatile this week. Factors like the US inflation data release, ongoing trade negotiations, geopolitical developments, and fluctuations in the dollar index will influence market direction.

Gold Support and Resistance:

• International: $3,330–$3,310 support; $3,374–$3,400 resistance per troy ounce
• Domestic (MCX): Rs 96,600–96,180 support; Rs 97,700–98,200 resistance

Silver Support and Resistance:

• International: $36.50–$36.15 support; $37.00–$37.40 resistance per troy ounce
• Domestic (MCX): Rs 1,06,000–1,04,800 support; Rs 1,08,000–1,09,400 resistance

Analysts suggest buying silver around Rs 1,06,000–1,06,500 with a stop loss at Rs 1,04,800 for targets of Rs 1,07,700–1,08,500.

Dollar Index and Rupee Movement

The US dollar index fell 0.14% to settle at 98.98 on Monday. Early gains were wiped out by weakness in bond yields and improving risk sentiment in equities. A temporary easing of safe-haven demand due to resumed US-China talks and strength in the euro also added pressure on the dollar.

In the domestic currency market, the USD-INR June futures contract slipped 0.06% to close at 85.7175 on the NSE. The rupee showed strong performance aided by FPI inflows and gains in the domestic equity market, which were buoyed by the Reserve Bank of India's recent interest rate cuts.

Experts expect the dollar index to remain volatile in the range of 96.80–101.35, while the rupee could trade between 84.4000 and 86.8000 this week.

City-wise Gold Prices (per gram on June 10, 2025):

Gold Price in Mumbai:
In Mumbai, the price of 24-karat gold stood at Rs 9,758 per gram, while 22-karat gold was priced at Rs 8,945 per gram.

Gold Price in Delhi:
The national capital recorded 24K gold at Rs 9,773 per gram, with 22K gold available at Rs 8,960 per gram.

Gold Price in Chennai:
Gold rates in Chennai were slightly lower, with 24K gold at Rs 9,758 per gram and 22K gold at Rs 8,945 per gram.

Gold Price in Kolkata:
In Kolkata, 24-karat gold was priced at Rs 9,758 per gram, and 22-karat gold was selling at Rs 8,945 per gram.

Gold Price in Bengaluru:
Bengaluru saw 24K gold trading at Rs 9,758 per gram, while 22K gold was available at Rs 8,945 per gram.

Gold Price in Pune:
Pune saw 24K gold trading at Rs 9,758 per gram, while 22K gold was available at 8,945 per gram