Indian Gold Prices Rise to ₹159,450 per 10 Grams as Global Tensions Weigh
On 1 June 2026, the price of 24K gold at ₹159,450 per 10 grams, reflecting a gain of ₹2,920 compared to its previous close. Meanwhile, 22K gold is at ₹146,163 per 10 grams. Gold prices in India are largely influenced by international spot gold rates, US dollar fluctuations, and import duties on Gold among other things. Gold prices in India continue to remain higher than in Dubai. On 1 June 2026 the price of 24K gold in India is at ₹159,450 per 10 grams, while in Dubai it is ₹142,582, reflecting a difference of ₹16,868 or 11.83%. Similarly, 22K and 18K gold prices in India were also about 11.83% costlier compared to the price of gold in Dubai , not accounting for fees, duties, and taxes. Gold prices are trending sideways as markets assess the geopolitical developments surrounding the West Asia conflict. A strong dollar trimmed the earlier gains for gold, as a firm greenback makes precious metals more expensive for other currency holders, thereby denting demand. The rise in oil prices has increased inflationary concerns, weighing negatively on the yellow metal as it reinforces expectations of tighter monetary policy across central banks globally. With little sign of progress in the US-Iran negotiations and the dual blockade of the chokepoint, the Strait of Hormuz , the scope of upside for gold remains limited. “Bullion has traded in a relatively narrow range in recent sessions after retreating from record highs reached earlier this year,” said Jigar Trivedi, Senior Research Analyst at IndusInd Securities. ALSO READ Everyone is bullish on gold at $4,500. Here’s the one thing that could prove them wrong On the domestic front, markets will also watch out for the RBI’s upcoming monetary policy meeting scheduled for June 5, as some brokerages and banks expect the domestic central bank to hike rates. Analysts expect gold prices to remain largely range-bound in the near term, citing a standstill in the West Asia conflict. Persistent inflationary pressures have increased the expectations of a rate hike by the US Federal Reserve at its December meeting. Higher interest rates reduce the appeal of non-interest-bearing precious metals. “On the domestic front, MCX Gold June futures are seen finding strong support around Rs 155,000 per 10 grams, while immediate resistance is placed near Rs 157,000,” Trivedi added. Retail investors are advised to track not just domestic rates but also international trends before making buying decisions. ALSO READ CME slashes Gold, Silver margins for second time in two months: What it means for MCX prices