Here’s the latest on gold price today Gold prices have been weaker as investors have been taking profits and have moved their focus to geopolitical developments in the Israel–Iran conflict and on the decision of the U.S. Federal Reserve rate that is coming up.
What’s Happening
- MCX Gold Futures fell about 0.24% to ₹98,940 per 10g on Tuesday morning (June 17) after a recent high of over ₹1 lakh, as traders booked profits early on the spike caused by the Israel–Iran tensions decided
- While domestic prices have decreased, international spot gold bounced back by about 0.4%, and the price reached $3,396.67/oz. This came on safe‑haven demand amid the increasing Middle East conflict and the statement of President Trump to evacuate Tehran
- At first, gold had gone down more than 1% on June 16 because of profit‑taking that came after it reached an eight‑week high, hence traders were waiting for the Fed’s meeting conclusion
- Analysts from India Bullion & Jewellers Association (IBJA) and LKP Securities mention that the Fed is no longer offering signs of tightening and that the upcoming signals are the major ones that will move the market
Themes to Watch
- Israel–Iran tensions – Safe‑haven inflows will be attracted by the continuing hostilities, thus, gold will be supported.
- U.S. Fed policy – The markets are betting only on the rates that will remain unchanged, but the most important will be the speech of the Fed Chair Powell, where he is expected to give indications of further rate cuts.
- Profit‑booking – Investors, who have made profits up to the record level, are now taking profits that lead to a slight fall of prices.
Quick Snapshot
| Market | Price Change |
|---|---|
| MCX Gold Futures | ↓ ~0.24% to ₹98,940/10 g |
| Spot Gold (International) | ↑ ~0.4% to $3,396.67/oz |
| U.S. Futures | Steady near $3,416/oz |
Bottom Line
Gold is still at a standstill after being affected by short-term profit-booking and medium-term safe-haven demand. The escalation of the situation in the Middle East has ensured that the support is still there but market participants are now focusing on the Fed’s statement for indications. A firm position would probably result in a decline in gold, however, the more dovish or cautious messages can lead to an uptrend again.