Gold prices continued their upward movement on Tuesday, June 16, 2026, pushed by developments in the international market and sustained investor interest in safe-haven assets. On the Multi Commodity Exchange (MCX), 24-carat gold futures climbed by Rs 219, or 0.14 per cent, to Rs 1,53,135 per 10 grams during early trade. In the previous session, the contract had settled at Rs 1,52,916 per 10 grams. In Delhi’s bullion market, the price of 24-carat gold stood at Rs 1,59,400 per 10 grams. Data from the Indian Bullion and Jewellers Association (IBJA) showed gold at Rs 1,50,646 per 10 grams during the morning session. Meanwhile, Bullions quoted the rate at Rs 1,53,690 per 10 grams, while GoodReturns listed 24-carat gold at Rs 1,51,680 per 10 grams.
Globally, spot strengthened to $4,340.65 per ounce, reflecting positive sentiment in international markets.
| City | 24 Carat Gold Rate (10g) | 22 Carat Gold Rate (10g) | 18 Carat Gold Rate (10g) |
|---|---|---|---|
| Delhi | Rs 151,680 | Rs 139,050 | Rs 113,800 |
| Mumbai | Rs 151,530 | Rs 138,900 | Rs 113,650 |
| Kolkata | Rs 151,530 | Rs 138,900 | Rs 113,650 |
| Chennai | Rs 153,490 | Rs 140,700 | Rs 118,000 |
| Patna | Rs 151,580 | Rs 138,950 | Rs 113,700 |
| Lucknow | Rs 151,680 | Rs 139,050 | Rs 113,800 |
| Meerut | Rs 151,680 | Rs 139,050 | Rs 113,800 |
| Ayodhya | Rs 151,680 | Rs 139,050 | Rs 113,800 |
| Kanpur | Rs 151,680 | Rs 139,050 | Rs 113,800 |
| Ghaziabad | Rs 151,680 | Rs 139,050 | Rs 113,800 |
| Noida | Rs 151,680 | Rs 139,050 | Rs 113,800 |
| Gurugram | Rs 151,680 | Rs 139,050 | Rs 113,800 |
| Chandigarh | Rs 151,680 | Rs 139,050 | Rs 113,800 |
| Jaipur | Rs 151,680 | Rs 139,050 | Rs 113,800 |
| Ludhiana | Rs 151,680 | Rs 139,050 | Rs 113,800 |
| Guwahati | Rs 151,530 | Rs 138,900 | Rs 113,650 |
| Indore | Rs 151,580 | Rs 138,950 | Rs 113,700 |
| Ahmedabad | Rs 151,580 | Rs 138,950 | Rs 113,700 |
| Vadodara | Rs 151,580 | Rs 138,950 | Rs 113,700 |
| Appearance | Rs 151,580 | Rs 138,950 | Rs 113,700 |
| Pune | Rs 151,530 | Rs 138,900 | Rs 113,650 |
| Nagpur | Rs 151,530 | Rs 138,900 | Rs 113,650 |
| Nashik | Rs 151,560 | Rs 138,930 | Rs 113,680 |
| Bangalore | Rs 151,530 | Rs 138,900 | Rs 113,650 |
| Bhubaneswar | Rs 151,530 | Rs 138,900 | Rs 113,650 |
| Cuttack | Rs 151,530 | Rs 138,900 | Rs 113,650 |
| Raipur | Rs 151,530 | Rs 138,900 | Rs 113,650 |
| Hyderabad | Rs 151,530 | Rs 138,900 | Rs 113,650 |
| Kerala | Rs 151,530 | Rs 138,900 | Rs 113,650 |
Why Gold Prices Jumped?
The latest surge follows a strong rally in the previous trading session. On Monday, gold prices in Delhi’s bullion market jumped by Rs 2,500 to Rs 1,59,400 per 10 grams from Friday’s closing level of Rs 1,56,900 per 10 grams.
Market participants attributed the move to optimism surrounding a peace framework between the United States and Iran. The development boosted global sentiment and drove spot higher by about 3 per cent, reaching $4,340.65 per ounce.
Experts Explain The Market Trend
Dr Ravi Singh, Chief Research Officer, Master Capital Services, noted, “MCX Gold futures advanced 1.59 per cent to settle at 152,916, recovering from recent lows. However, the contract failed to hold on to its early gains and closed near the day’s low after a gap-up opening, reflecting selling pressure around higher levels. The price is currently approaching a crucial resistance zone of 154,000–154,500, where both the 21-day and 55-day EMAs are placed. A sustained move above this zone would improve the short-term outlook and could trigger a stronger recovery. On the downside, 151,000 remains the immediate support level, while a break below it may lead to another round of selling towards 148,000.”
“Gold prices in the international market jumped nearly 2 per cent after signs of progress in US-Iran peace negotiations eased concerns over a prolonged conflict in the Middle East. The prospect of a deal weighed on crude oil prices and weakened the US dollar, both of which supported bullion prices. Market sentiment improved after US President Donald Trump indicated that discussions had reached an advanced stage, helping gold rebound sharply from recent lows,” he added.
Market experts believe easing geopolitical tensions and softer inflation expectations are influencing commodity markets.
According to news agency PTI, Saumil Gandhi, Senior Analyst (Commodities) at HDFC Securities, said that gold prices rose on Monday due to the rise in the international market and spot gold went above the level of $ 4,325 per ounce. He said that due to this agreement, crude oil prices fell to a multi-week low, concerns about inflation reduced and the possibility of a more tight monetary policy decreased, while a weak dollar and low bond yields also supported bullion prices.
Jatin Trivedi, vice president, research analyst (commodities and currencies) at LKP Securities, said that a formal agreement on June 19th could further lower inflation expectations and help stabilize the broader market. Investors will now turn their attention to the US Federal Reserve’s policy meeting, added the report.