Gold price today 16 June: Gold rate rose in morning deals on MCX on Tuesday, 16 June, following a muted trend in global bullion prices, as investors await key details of the US-Iran peace deal and how the ongoing dispute ends in the coming days.
for August futures contracts was trading 0.09% higher at ₹1,53,060 per 10 grams. MCX silver futures, on the other hand, were trading 0.4% lower at ₹2,51,130 per kg at around 9:35 am.
US President Donald Trump has claimed that the Iran war is now settled, that Washington and Tehran have agreed on a peace deal, and that he expects the deal to be signed on Friday, 19 June.
The recent uncertainty over the has led to higher crude oil prices, supply chain problems and a flat dollar index. The global equity markets have also remained volatile.
The signing of a peace deal between the US and Iran will help restore global supply chains, bring peace across the globe, reduce volatility in and lead to a significant reduction in oil prices.
Important geopolitical developments
China’s economy weakens further as retail sales post first drop in over 3 years
China’s retail sales fell for the first time in more than 3 years in May, while urban investment contracted more than expected, piling pressure on Beijing to roll out meaningful stimulus to spur consumption, even as de-escalation in tensions offers some near-term relief, reported CNBC.
Bank of Japan hikes rates to the highest since 1995
on Tuesday raised its policy rate to the highest in over 30 years at 1%, in line with expectations of economists polled by Reuters, accelerating policy normalisation started in 2024.
This rate increase is the Bank of Japan’s first hike since December, when it raised rates to 0.75%, and the first time since 1995 that it has raised rates to 1%.
JD Vance says ‘a lot’ of Iran deal details to figure out, but the US has ‘all the cards’
Vice President of the US, JD Vance, on Monday said after the US and Iran struck a preliminary deal that “a lot” of details remain to be ironed out, but he expressed confidence that America has “all the cards” in subsequent talks.
Here are the most recent price changes in gold and silver across various cities in India.
Gold Prices in Mumbai — 16 June
24 karat gold rate in Mumbai — ₹153,067/10 gm
22 karat gold rate in Mumbai — ₹140,305/10 gm
Silver 999 Fine rate in Mumbai — ₹251,130/1 kg
Gold Prices in New Delhi — 16 June
24 karat gold rate in New Delhi — ₹152,800/10 gm
22 karat gold rate in New Delhi — ₹140,067/10 gm
Silver 999 Fine rate in New Delhi — ₹250,690/1 kg
Gold Prices in Bengaluru — 16 June
24 karat gold rate in Bengaluru — ₹153,180/10 gm
22 karat gold rate in Bengaluru — ₹140,415/10 gm
Silver 999 Fine rate in Bengaluru — ₹251,320/1 kg
Gold Prices in Kolkata — 16 June
24 karat gold rate in Kolkata — ₹152,860/10 gm
22 karat gold rate in Kolkata — ₹140,122/10 gm
Silver 999 Fine rate in Kolkata — ₹250,790/1 kg
Gold Prices in Hyderabad — 16 June
24 karat gold rate in Hyderabad — ₹153,310/10 gm
22 karat gold rate in Hyderabad — ₹140,534/10 gm
Silver 999 Fine rate in Hyderabad — ₹251,520/1 kg
Gold Prices in Chennai — 16 June
24 karat gold rate in Chennai — ₹153,420/10 gm
22 karat gold rate in Chennai — ₹140,635/ gm
Silver 999 Fine rate in Chennai — ₹251,860/1 kg