Gold And Silver Prices Today, June 15: MCX Rates Rise As US-Iran Peace Deal Lifts Sentiment; Check 24K, 22K Gold Rates In Delhi, Mumbai, Chennai And More

Gold and Silver Prices Today, June 15: Gold prices in international markets jumped on Friday, June 15, while the domestic retail prices remained largely stable in the metros in India. The yellow metal drew strength from signs of thawing tension in West Asia and gained investor support. Silver remained near all-time peaks, supported by steady, hefty industrial and investment demand. U.S. President Donald Trump’s comment that Washington and Tehran have reached a peace deal has also contributed to this shift in market sentiment. A formal agreement to be signed later this week has added impetus to market sentiment and caused crude oil prices to drop while lifting equity prices across Asia, yet investors remained on high alert with regard to any geopolitical developments.

Precious metals were still higher in early Monday trade on the international commodities market. COMEX gold rose 2.12 per cent, adding $89.80 to trade at $4,328.60 per ounce at 6:55 AM GMT. Silver beat gold, with COMEX silver up 3.20 per cent, or $2.176, to $70.150 an ounce at 6:56 AM GMT. The gains came as investors reacted to developments in the West Asia region and changing expectations of a possible US-Iran peace deal, with an eye on movements in the US dollar and crude oil prices.

Meanwhile, gold prices increased Rs 2,750 to Rs 53,700 per 10 grams in the national capital in the international futures market for delivery in August. Silver prices for July delivery rose 2.56 per cent to Rs 2,52,497 per kg.

However, the surge in the futures market did not have much of an impact on physical gold rates in major cities, which remained mostly unchanged due to steady demand for jewellery and selective buying ahead of the festive and wedding season.

Gold Prices In Major Cities Today

Silver Prices In Major Cities Today

Gold And Silver Prices Today In Focus

Gold has traditionally been seen as a safe haven asset in uncertain times. The prospect of a US-Iran peace deal, however, has drawn investor attention to risk assets and capped sharp upside in bullion prices even with lingering geopolitical worries.

Meanwhile, silver continues to outperform on a cocktail of investment demand and rising industrial consumption. Silver, unlike gold, is more sensitive to industrial activity and the clean energy sector and more exposed to swings in global economic growth.

Oil Prices Crash

The price of crude oil fell after news spread of the potential US-Iran deal that would help in defusing tension and normalise trade flows in the Strait of Hormuz, a vital oil passage. US crude futures declined nearly 5 per cent to $80.48 a barrel, and Brent crude was down about 4 per cent at $83.23 a barrel. Lower crude oil prices are generally good for India as a result of falling import costs and lower inflationary pressures.

Traders expect gold and silver prices to remain volatile in the near term as global markets closely watch developments in West Asia, while physical demand in India remains steady.

(Disclaimer: This article is for informational purposes only and should not be considered investment advice. The views, opinions, and recommendations expressed herein are those of the respective experts. Readers are advised to consult a qualified financial advisor before making any investment decisions.)

Also Read: Oil Prices Sink Over 5% As US-Iran Peace Deal Sparks Supply Hopes; Will Cheaper Crude Bring Relief?