Gold price today 8 June: Gold rate declined in morning deals on MCX on Monday, 8 June, due to rising tensions in the Middle East. The uncertainty has resulted in higher crude oil prices and a flat dollar index, as investors carefully wait for the next developments in the ongoing war between US and Israel against Iran.
The prospects of a peace deal between the US and Iran continue to look bleak, due to the most recent developments and the actions of Israel and a counter from Iran.
for August futures contracts was trading 0.94% lower at ₹1,54,290 per 10 grams. MCX silver futures, on the other hand, were trading 1.6% lower at ₹2,45,120 per kg at around 9:52 am.
Important geopolitical developments
Foreign investors dump billions of dollars’ worth of South Korean stocks this year
Foreign investors have dumped billions of dollars’ worth of this year, even as the Kospi has emerged as one of the world’s standout performers thus far, with record year-to-date gains, as per a report by CNBC.
On Monday, overseas investors had unloaded a net 1.24 trillion won (about $801 million) worth of Kospi-listed shares as of 11 am Singapore time (11 pm ET Sunday), according to Korea Exchange data.
Iran and Israel exchange strikes, threatening fragile ceasefire
In yet another , Iran on Sunday fired missiles at Israel, which retaliated with its own strikes as a tenuous ceasefire between Washington and Tehran hangs in the balance, as detailed in a report by CNBC.
The reports of missile fire from Iran come after the Iranian Parliamentary Speaker, MB Ghalibaf, said in a post to X that the US “naval blockade and violation of agreements ” amount to violations of the ceasefire.
Oil prices spike over 3% as Iran and Israel trade strikes
on Monday amid escalating tensions in the Middle East as Iran and Israel traded missile and air strikes, raising concerns over a fragile ceasefire and an extended conflict.
International benchmark Brent crude futures for July advanced 3.18% to $96.05 per barrel. US West Texas Intermediate futures for August gained 3.46% to $93.67 a barrel.
Here are the most recent price changes in gold and silver across various cities in India.
Gold Prices in Mumbai — 8 June
24 karat gold rate in Mumbai — ₹154,080/10 gm
22 karat gold rate in Mumbai — ₹141,240/10 gm
Silver 999 Fine rate in Mumbai — ₹244,770/1 kg
Gold Prices in New Delhi — 8 June
24 karat gold rate in New Delhi — ₹154,020/10 gm
22 karat gold rate in New Delhi — ₹141,185/10 gm
Silver 999 Fine rate in New Delhi — ₹244,440/1 kg
Gold Prices in Bengaluru — 8 June
24 karat gold rate in Bengaluru — ₹154,410/10 gm
22 karat gold rate in Bengaluru — ₹141,543/10 gm
Silver 999 Fine rate in Bengaluru — ₹245,050/1 kg
Gold Prices in Kolkata — 8 June
24 karat gold rate in Kolkata — ₹154,080/10 gm
22 karat gold rate in Kolkata — ₹141,240/10 gm
Silver 999 Fine rate in Kolkata — ₹244,530/1 kg
Gold Prices in Hyderabad — 8 June
24 karat gold rate in Hyderabad — ₹154,350/10 gm
22 karat gold rate in Hyderabad — ₹141,488/10 gm
Silver 999 Fine rate in Hyderabad — ₹245,410/1 kg
Gold Prices in Chennai — 8 June
24 karat gold rate in Chennai — ₹154,550/10 gm
22 karat gold rate in Chennai — ₹141,671/10 gm
Silver 999 Fine rate in Chennai — ₹245,740/1 kg