Gold and silver prices on June 17: Gold rate drop amid reports of Israel-Iran ceasefire talks

Domestic gold prices are trading lower on Tuesday. As of 11:30 am, the 24K gold rate in the local market stood at ₹99,320 per 10 gram, down ₹640/10 gram compared to yesterday’s closing, while 22K gold was at ₹91,043 per 10 gram.

Gold prices have reversed most of its recent gains after media reports of Iran seeking a ceasefire with Israel after conflict between the two countires. This revived investors sentiment towards risker assets like equities. Hence, lowering the demand for the safe haven assets. Yellow metal prices also fell ahead of Federal Reserve rate decision this week.

Citigroup Inc. analyst has warned that international gold prices are likely to sink back below $3,000/oz in the coming quarters, as a record-setting rally runs dry. Improved global growth prospects and Fed rate cut likely to cool down demand for the bullions in second half of 2026.

In New Delhi markets, the 24K gold rate stood at ₹98,930 per 10 gram and 22K gold at ₹90,686 per 10 gram.

Gold Price Today in Major Cities:

MCX Gold futures are also trading lower. As of 11:30 am, the MCX Gold August future is down 0.23% at ₹99,050 per 10 gram, with a day high of ₹99,288 and day low of ₹98,810. In the US markets, Gold futures for August delivery were trading 0.36% or $12.5 lower at $3,404 an ounce.

Silver Price Today in India (June 17, 2025)

Silver prices are trading slightly higher in the local market above ₹1.07 lakh mark. As of 11:30 am, silver prices are around ₹107,430 per kg, up 0.21%. Meanwhile, MCX Silver for July delivery trades 0.34% higher at ₹106,927 per kg, while international silver prices trade around $36.4 per troy ounce, up 0.14%.

Silver Price Today in Major Cities: