Gold and Silver Prices Today, June 20, 2025: Gold at Rs 98,700/10 gm, silver tumbles sharply by over Rs 1,800/kg; check latest city-wise rates

Gold and Silver Prices Today, June 20, 2025: Gold prices traded with a cut on the MCX even as geopolitical tensions escalated in the Middle East. Around 11:00 am, Gold August futures were down 0.6 per cent or Rs 593 at Rs 98,736 per 10 gm. Meanwhile, silver declined sharply- down Rs 1,803 or 1.68 per cent to Rs 1,05,590 per kg.

Tensions in the Middle East intensified on Thursday as Israel attacked nuclear sites of Iran, while Iran also fired missiles in retaliation. Meanwhile, the White House announced that the US President will decide on his involvement in the Israel-Iran war in the next two week.

Gold August futures contract settled at Rs 99,329 per 10 grams with a loss of 0.21 per cent and silver July futures contract settled at Rs 1,07,393 per kilogram with a loss of 1.08 per cent.

Gold and silver showed a pullback after hawkish comments of the Fed Chairman on interest rate cuts. The US Fed held interest rates steady in its monetary policy meetings on Wednesday and also downgraded growth outlook for 2025.

Besides, the Bank of England also held rates steady in its monetary policy meetings on Thursday, curbing gains of precious metals.

Manoj Jain, Commodity Expert, IndiaNivesh said, "Escalation of Israel-Iran war and weaker dollar index are supporting safe-haven buying for precious metals. Weakness in the rupee is also supporting prices of gold and silver in the domestic markets."

International gold and silver price trend

In the international markets, gold futures traded lower by over 1 per cent at $3,364.37 per ounce, while in the spot market it traded lower by 0.61 per cent at $3,349.96 per ounce. However, silver futures traded with a steep cut of 1.9 per cent at $35.67 per ounce, while spot silver was down 2 per cent at $35.65 per ounce.

Trading strategy in gold and silver

Jain expects gold and silver prices to remain volatile in today’s session amid volatility in the dollar index and geo-political tensions. Gold has support at $3366-3330, while resistance at $3404-3427 per troy ounce and silver has support at $36.00-35.55, while resistance is at $36.70-37.15 per troy ounce in today’s session. On the MCX gold is having support at 98800-98550 and resistance at 98660-99000 while silver is having support at 106500-105750 and resistance at 108200-109000. We suggest buying gold on dips around 98800 with a stop loss of 98400 for the target of 99500.

Can gold prices continue with their bullish momentum?

Prithviraj Kothari, Managing Director of RiddiSiddhi Bullions Limited (RSBL) noted that geopolitical tensions in the Middle East, particularly those involving the US, Iran, and Israel, maintain the demand for safe-haven assets high, which is keeping precious metals in a bullish momentum. Also, China and Russia are the two central banks that are still hoarding physical gold, and the dollar index's stabilization below 105 provides another technical tailwind, he added.

Further the expert pointed that technically, gold prices are above the $3410 (~Rs 99000) resistance zone, which corresponds to the upper bound of the rising wedge formation. The April ATH of $3500 (~Rs 101,500) may reappear if a move above this zone opens the way for last week's high around the psychological level of $3468 (~Rs 100,700). A violation of this zone might open the door for the next significant psychological milestone of $3270 (~Rs 92500) if bearish momentum is to acquire traction.

City-wise Gold Prices (per gram on June 20, 2025):