𝗚𝗼𝗹𝗱 𝗣𝗿𝗶𝗰𝗲 𝗢𝘂𝘁𝗹𝗼𝗼𝗸 𝗳𝗼𝗿 𝗝𝘂𝗻𝗲 𝟮𝟬𝟮𝟲
Gold prices show strength due to central bank buying and changing market conditions. Recent events shifted focus from geopolitical conflict to economic data.
Key Drivers for Gold Prices:
- An interim US-Iran peace agreement reduced geopolitical tensions.
- Reopening of the Strait of Hormuz led to lower crude oil prices.
- Lower inflation expectations reduced fears of Federal Reserve interest rate hikes.
- Lower Treasury yields and a weaker US dollar supported bullion prices.
- Central banks continue to buy gold to diversify reserves.
Market Focus:
- The Federal Reserve meeting on June 16-17 provides policy guidance.
- Investors watch US inflation data for signs of moderation.
- The formal signing of the US-Iran agreement in Switzerland remains a key event.
Gold Price Levels:
- Spot Gold Current Price: $4,320/oz
- Spot Gold Support: $4,150 / $4,020
- Spot Gold Resistance: $4,390 / $4,620
- MCX Gold Current Price: ₹1,52,470
- MCX Gold Support: ₹1,46,200 / ₹1,41,700
- MCX Gold Resistance: ₹1,54,700 / ₹1,62,800
Silver Market Status:
- Global demand exceeds supply.
- 2026 marks the sixth year of a silver supply deficit.
- International Silver Current Price: $70/oz
- International Silver Support: $64 / $61
- International Silver Resistance: $72.50 / $76.50
- MCX Silver Current Price: ₹2,49,340
- MCX Silver Support: ₹2,27,800 / ₹2,17,000
- MCX Silver Resistance: ₹2,56,250 / ₹2,72,800
Source: The Times of India