Gold rate today (11th June 2024): Latest gold prices in Mumbai, Delhi, Kolkata, Bengaluru, Chennai and other Indian cities

On Tuesday, gold rates saw an increase across India. In Delhi, 10 grams of 24-carat gold would cost you ₹71,990 today. Meanwhile, on the MCX, gold contracts for June delivery traded higher ₹150 at ₹ 71,840 per 10 grams.

Here is an extensive daily list to give you the most recent information on gold prices in India's key cities.

Click to view the details of the gold rate on 10th June

The current COMEX gold price stands at $2,319.20 as of the latest trade. This marks a decrease of $7.80, reflecting a decline of 0.34%. The trading session saw the gold price reach a high of $2,329.90 and a low of $2,315.70, with the opening price set at $2,329.50. This fluctuation in gold prices is indicative of market volatility, influenced by various economic factors and investor sentiment. Traders and investors closely monitor these figures as they assess the market conditions and make decisions based on the gold price movements. The slight dip in the gold price might be attributed to profit-taking or a reaction to recent economic data releases.

Gold prices rebounded on Monday following their steepest drop in three and a half years, prompted by a strong U.S. jobs report and reports of China's central bank halting gold purchases. Despite a stronger dollar and rising U.S. Treasury yields, investors shifted their attention to upcoming U.S. inflation data and the Federal Reserve's interest rate decision. While the Fed is not expected to change its policy rate, the market eagerly awaits the updated economic projections and Fed Chair Jerome Powell's news conference on Wednesday, says Saish Sandeep Sawant Dessai, Analyst, Base Metals, Angel One Ltd.

The trading week began on a strong note, with prices briefly surpassing 23,400. However, this momentum quickly waned, leading to fluctuating prices throughout the session. By the end, profit-taking caused a minor decline of 0.13%, closing just above 23,250. The previous week was marked by significant price swings, but activity slowed after major events, resulting in a small negative candle on the daily chart. Moving forward, traders are advised to stay positive but selective, focusing on buying dips and taking profits regularly. Immediate support levels are at 23,130 and 23,000, with resistance between 23,400 and 23,500. Attention should shift to sectors poised to benefit from the upcoming budget.

Gold rates experience daily fluctuations due to a myriad of short- and long-term factors. These include considerations such as shifts in supply and demand, economic indicators, geopolitical developments, currency movements, investor sentiment and more. Given the dynamic nature of the precious metals market, effective monitoring and analysis of pricing data are crucial for investors and traders to make informed investment decisions.

While these data points offer valuable insights into market trends and factors driving price movements to assist investors in navigating the gold market effectively, investors are advised to perform their own due diligence before making any investment decisions.

As the day progresses, we encourage investors to remain vigilant and monitor gold rates closely for any emerging trends or market developments. By staying informed about these daily price fluctuations, investors can identify potential trading opportunities and make well-informed investment decisions.

For daily updates and in-depth analysis of gold rates, continue following our coverage on Business Insider India.

Disclaimer: The content on this website is for informational purposes only and should not be construed as investment advice. Rates are subject to change from time to time and across multiple geographical locations. We recommend readers consult certified, qualified and registered advisors for professional and personalised financial advice.