Gold prices remained firm on June 10 as investors continued to seek safe-haven assets amid rising geopolitical tensions in the Middle East. While domestic gold rates edged higher, silver prices witnessed a decline as traders booked profits and monitored global market developments.
According to market data, gold prices in the national capital rose by ₹10 to ₹1,53,170 per 10 grams. In contrast, silver prices fell by ₹100 to ₹2,59,900 per kilogram, reflecting mixed sentiment in the precious metals market.
Globally, gold prices remained supported after renewed hostilities between the United States and Iran increased uncertainty across financial markets. The geopolitical developments also pushed crude oil prices higher, raising concerns over inflation and global economic stability. Such conditions typically encourage investors to move funds into gold, which is widely regarded as a safe-haven asset during periods of uncertainty.
However, gains in gold were limited by expectations surrounding US monetary policy. Investors are closely tracking economic data and signals from the US Federal Reserve for clues on the future path of interest rates. Higher interest rates generally reduce the appeal of non-yielding assets such as gold, leading to cautious trading activity.
In India, gold demand remained steady despite elevated prices. Jewellers reported continued interest from buyers, although some consumers preferred to postpone purchases in anticipation of price corrections. Market participants are also keeping an eye on upcoming economic indicators and geopolitical developments that could influence the direction of precious metal prices.
Silver, which often tracks both industrial demand and investment sentiment, traded lower during the session. Analysts attributed the decline to profit-booking and a cautious outlook on global manufacturing demand.
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