Gold Surges To Record Rs 1.01 Lakh Per 10g; Time To Book Profits Or Stay Invested?

Last Updated:June 16, 2025, 13:17 IST

Amid rising geopolitical tensions and surging crude oil prices, gold prices soared to a fresh all-time high of Rs 1,01,078 per 10 grams on MCX

Gold Prices in India Today: Amid rising geopolitical tensions and surging crude oil prices, gold prices soared to a fresh all-time high of Rs 1,01,078 per 10 grams on the Multi Commodity Exchange (MCX) in August futures trade, extending Friday’s breakthrough above the Rs 1 lakh milestone. This marks a significant uptrend as global equities remain under pressure, fueling safe-haven demand.

Silver July futures, meanwhile, hovered near recent highs, opening flat at ₹1,06,464 per kg on Monday.

Weekly Gains Fueled by Safe-Haven Demand

On Friday, both precious metals closed higher across domestic and international markets.

• Gold August futures settled at Rs 1,00,276 per 10 grams, up 1.91%.
• Silver futures ended at Rs 1,06,493 per kg, gaining 0.57%.

The rally was underpinned by safe-haven buying amid the Israel-Iran conflict, weakness in the dollar index, and a broader sell-off in global equity markets. Surging crude oil prices added to the bullish momentum in precious metals.

Geopolitical Tensions and Weak Rupee Provide Support

According to Manoj Kumar Jain, Director at Prithvi Finmart, “Gold prices closed above $3,450 per troy ounce and could revisit lifetime highs in the global market. Weakness in the rupee may continue to support domestic prices of both gold and silver.”

Jain added, “Gold could hold support at $3,284 and silver at $34.00 per troy ounce on a weekly closing basis, though volatility is expected due to fluctuations in the dollar index and ongoing geopolitical developments.”

Rahul Kalantri, VP Commodities at Mehta Equities, shared a similar outlook. “With global equities struggling and oil prices rising, gold and silver are benefiting from risk aversion. A weakening rupee could further lift domestic bullion prices,” he said.

How to Trade Gold and Silver: Expert Levels

Manoj Kumar Jain suggests traders follow these key support and resistance levels on MCX:

• Gold:
  • Support: Rs 99,650–Rs 99,100
  • Resistance: Rs 1,01,100–Rs 1,01,800
  • Suggested buying range: Rs 99,600–Rs 99,100
  • Avoid short selling unless there’s a ceasefire in the Israel-Iran conflict
• Silver:
• Support: Rs 1,05,800–Rs 1,05,000
• Resistance: Rs 1,07,200–Rs 1,08,000
• Suggested buying range: Rs 1,05,000–Rs 1,04,000

Jain advised traders to remain cautious and stick to technical levels for entry and exit, given the high volatility in the market.

Gold Rates in Key Indian Cities (Today’s Retail Prices)

Outlook

With global instability still unfolding and central bank policies remaining data-dependent, gold and silver prices are likely to stay volatile in the near term. However, investors seeking a hedge against uncertainty may find continued strength in bullion—particularly if geopolitical risks persist and the rupee stays under pressure.

Aparna Deb

Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a…Read More

Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a… Read More

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