Gold Rate Today: Yellow Metal Shines Bright Amid Global Uncertainties
Gold Prices Rise on June 6: Check Latest Rates in Your City
Gold prices opened higher on June 6, driven by global uncertainties, including escalating geopolitical tensions and trade issues. The yellow metal’s August contracts on the Multi Commodity Exchange of India (MCX) opened at Rs 98,248 per 10 grams.
Latest Gold Prices in Major Cities (June 6)
- Delhi: ₹99,750/10g (24k), ₹91,450/10g (22k)
- Mumbai: ₹99,600/10g (24k), ₹91,300/10g (22k)
- Chennai: ₹99,600/10g (24k), ₹91,300/10g (22k)
- Kolkata: ₹99,600/10g (24k), ₹91,300/10g (22k)
- Bengaluru: ₹99,600/10g (24k), ₹91,300/10g (22k)
- Jaipur: ₹99,750/10g (24k), ₹91,450/10g (22k)
- Lucknow: ₹99,750/10g (24k), ₹91,450/10g (22k)
- Hyderabad: ₹99,600/10g (24k), ₹91,300/10g (22k)
- Ahmedabad: ₹99,650/10g (24k), ₹91,350/10g (22k)
Expert Insights: Why Gold is Shining Bright
According to Prathamesh Mallya, DVP-Research, Non-Agri Commodities and Currencies at Angel One, ‘The yellow metal is shining bright due to factors such as escalating geopolitical tensions between Russia and Ukraine, and the tariff situation between the US and China.’
Key Factors Driving Gold Prices
- Escalating geopolitical tensions
- Trade issues between major economies
- Uncertainty and volatility in global markets
Future Outlook: What to Expect from Gold Prices
Mallya added that in the week ahead, gold prices on the COMEX are likely to move higher towards the $3,500/ounce mark, while MCX gold prices might rally towards the ₹1,00,000/10gms mark in a week.
Investor Takeaways
Investors should note that the views and investment tips expressed by experts are their own and not those of the website or its management. It is always advised to check with certified experts before taking any investment decisions.
In conclusion, gold prices are expected to continue their upward trend in the near future, driven by global uncertainties and trade tensions. Investors and market enthusiasts should keep a close eye on these developments and adjust their strategies accordingly.
