Gold Prices in India Rise Amid Ongoing Tensions; Experts Expect Range-Bound Movement

On 12 June 2026, the price of 24K gold at ₹150,060 per 10 grams, reflecting a gain of ₹790 compared to its previous close. Meanwhile, 22K gold is at ₹137,555 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 12 June 2026 the price of 24K gold in India is at ₹150,060 per 10 grams, while in Dubai it is ₹132,361, reflecting a difference of ₹17,700 or 13.37%. Similarly, 22K and 18K gold prices in India were also about 13.37% costlier compared to the price of gold in Dubai , not accounting for fees, duties, and taxes. Gold prices are trending sideways as elevated energy prices continue to fuel inflationary concerns. The asset also faced pressure from a strong dollar . A firm dollar makes precious metals like gold more expensive for other currency holders, thereby denting demand. Oil prices slipped 2% as media reports suggest that Washington and Tehran could strike a final agreement this week. However, uncertainties over the prolonged West Asia conflict continue to spur expectations of rate hikes by the US Federal Reserve . ALSO READ Gold plunges 28% from peak: Is it a ‘buy-the-dip’ signal? Experts chart out medium-term strategy While gold rebounded from its recent six-month lows, the yellow metal has plummeted nearly 20% since the beginning of the tensions in the Middle East. Analysts suggest gold prices to remain range-bound in the near term as markets continue to monitor developments in the US-Iran conflict. Stronger than expected US Producer price data for May has reinforced expectations of tighter monetary policy by Fed. “ MCX Gold August futures may correct to Rs. 148,800 per 10 gm as the tone is slightly weak in the global markets,” said Jigar Trivedi, Senior Research Analyst at IndusInd Securities. Retail investors are advised to track not just domestic rates but also international trends before making buying decisions. ALSO READ Silver Rate Today 11th June 2026: Silver is down by 0.76%; check prices in Mumbai, Bengaluru, Hyderabad, Delhi, Ahmedabad