GG News Bureau
Mumbai, 11th June: Gold prices are slightly up today as uncertainty lingers over a trade deal between the United States and China. Investors are also keenly watching the upcoming US consumer price index (CPI) data, expected later today, for hints about the US Federal Reserve’s next interest rate move.
Experts suggest that even with signs of a US economic slowdown, the Federal Reserve might hold off on rate cuts for a few months. This is due to ongoing inflation risks, especially with the trade war. Overall, experts view gold and silver as safe-haven investments in these volatile markets, though they advise caution.
Silver prices have notably stayed above the ₹1 lakh per kilogram mark for the past week. Looking at returns, gold costs have jumped 30% over the last year and delivered a 15% annual growth rate (CAGR) since 2001. Since 1995, gold has even beaten inflation by 2-4%, according to data.
Today, June 11, prices opened slightly higher or lower at 10 AM. The MCX gold index was at ₹97,234 per 10 grams, while MCX silver prices stood at ₹1,06,726 per kilogram.
Based on data from the Indian Bullion Association (IBA) at 10 AM today, 24-carat gold is priced at ₹97,300 per 10 grams, and 22-carat gold at ₹89,129 per 10 grams. Silver (999 Fine) is listed at ₹1,07,090 per kilogram.
Important Note for Buyers: When purchasing from jewelers, expect the final price to be higher due to added making charges, taxes, and GST.
Today’s Gold and Silver Prices in Major Cities (June 11):
Mumbai:
- Gold (bullion): ₹97,060/10 gm
- MCX Gold: ₹97,234/10 gm
- Silver (bullion): ₹1,06,840/kg
- MCX Silver 999: ₹1,06,726/kg
New Delhi:
- Gold (bullion): ₹96,870/10 gm
- MCX Gold: ₹97,234/10 gm
- Silver (bullion): ₹1,06,540/kg
- MCX Silver 999: ₹1,06,726/kg
Kolkata:
- Gold (bullion): ₹96,910/10 gm
- MCX Gold: ₹97,234/10 gm
- Silver (bullion): ₹1,06,580/kg
- MCX Silver 999: ₹106,726/kg
Bengaluru:
- Gold (bullion): ₹97,120/10 gm
- MCX Gold: ₹97,234/10 gm
- Silver (bullion): ₹1,06,810/kg
- MCX Silver 999: ₹1,06,726/kg
Hyderabad:
- Gold (bullion): ₹97,160/10 gm
- MCX Gold: ₹97,234/10 gm
- Silver (bullion): ₹1,06,750/kg
- MCX Silver 999: ₹1,06,726/kg
Chennai:
- Gold (bullion): ₹97,290/10 gm
- MCX Gold: ₹97,234/10 gm
- Silver (bullion): ₹1,06,900/kg
- MCX Silver 999: ₹1,06,726/kg
