Gold prices witnessed a robust recovery on the Multi Commodity Exchange (MCX) on June 12, 2026, surging past the Rs 1.5 lakh mark per 10 grams. Silver also displayed a strong upward trend, bringing cheer to investors and jewelers alike.
Gold Rates on MCX
The precious metal opened higher and maintained its upward momentum throughout the day. The most active gold futures contract for August delivery jumped by over Rs 2,000 to settle at Rs 1,50,450 per 10 grams. Analysts attributed the rise to a combination of global cues and domestic demand.
Silver Also Rallies
Silver prices also shone brightly, with the July futures contract rising by more than Rs 1,500 to trade at Rs 72,800 per kilogram. The white metal has been gaining traction amid industrial demand and safe-haven buying.
City-Wise Gold Rates
Here are the gold rates (24K per 10 grams) in major Indian cities as of June 12, 2026:
- Delhi: Rs 1,50,500
- Mumbai: Rs 1,50,450
- Chennai: Rs 1,50,600
- Kolkata: Rs 1,50,400
- Bangalore: Rs 1,50,550
- Hyderabad: Rs 1,50,520
- Ahmedabad: Rs 1,50,480
- Jaipur: Rs 1,50,430
Reasons Behind the Rally
Market experts pointed to a weakening US dollar and escalating geopolitical tensions as key drivers behind the surge. Additionally, expectations of a slower pace of interest rate hikes by central banks have boosted the appeal of non-yielding assets like gold.
Domestically, the onset of the wedding season in India has spurred demand for the yellow metal. Jewelers reported increased footfalls and bookings, further supporting prices.
Outlook for Gold and Silver
Analysts remain bullish on gold and silver in the near term. They advise investors to consider accumulating on dips, given the supportive macroeconomic environment. However, they caution that any surprise policy moves by major central banks could trigger volatility.
Overall, the precious metals market is expected to remain buoyant, driven by a mix of global and domestic factors. Investors are advised to stay tuned to global developments and domestic demand trends for further cues.
