Gold and silver prices extended their rally for a third straight session on Monday, opening sharply higher on the Multi Commodity Exchange (MCX) after U.S. and Iranian officials announced a preliminary agreement to end their conflict.
In the domestic market, MCX silver futures for July 2026 delivery were up Rs 7,200 (2%) to Rs 2,53,345 per kg. Gold futures for August 2026 delivery rose Rs 3,301 (2%) to Rs 1,53,829 per 10 gm.
With today’s gain, silver has risen over Rs 18,000 in three days, while gold has gained almost Rs 6,000. In the previous session, the two closed higher, albeit marginally.
The proposed deal, which includes an end to the U.S. blockade of Iran and the reopening of the Strait of Hormuz, is expected to be formally signed in Switzerland on Friday, according to Pakistani Prime Minister Shehbaz Sharif.
The development weighed on the U.S. dollar, which slipped to a 10-day low, making dollar-denominated bullion more attractive for holders of other currencies. Oil prices also fell more than 4%, easing concerns over inflation and the prospect of higher interest rates.
In the international market, spot gold rose 2% to $4,304.11 an ounce, its highest level since June 9, while U.S. gold futures for August delivery gained 2% to $4,325.20.
Among other precious metals, spot silver climbed 3.1% to $70.07 an ounce, platinum advanced 3.1% to $1,771.27 and palladium added 3.3% to $1,325.76.
How should you trade gold?
According to Jigar Trivedi of IndusInd Securities, MCX gold could appreciate to Rs 1,53,000.
Manoj Kumar Jain of Prithvi Finmart said gold has support at Rs 1,49,700–1,48,650 on MCX, while resistance is seen at Rs 1,51,150–1,52,200. He noted that Prithvi Finmart's earlier recommendation to buy gold for a target of Rs 1,51,100 and silver for a target of Rs 2,45,000 was achieved on Friday. Going ahead, he recommends fresh buying in gold in the Rs 1,49,700–1,48,800 range with a stop loss below Rs 1,47,700 and targets of Rs 1,51,150–1,52,200.
For silver, support is placed at Rs 2,43,300–2,40,000 and resistance at Rs 2,49,100–2,52,500. Jain recommends buying in the Rs 2,44,400–2,41,000 range with a stop loss below Rs 2,37,700 and targets of Rs 2,51,000–2,53,500.
Gold, Silver rates today, 15 June, across major cities
Gold price today in DelhiStandard gold (22 carat) prices in Delhi stand at Rs 1,09,432/8 grams, while pure gold (24 carat) prices stand at Rs 1,19,376/8 grams.
Gold price today in Mumbai
Standard gold (22 carat) prices in Mumbai stand at Rs 1,09,312/8 grams, while pure gold (24 carat) prices stand at Rs 1,19,256/8 grams.
Gold price today in Chennai
Standard gold (22 carat) prices in Chennai stand at Rs 1,10,872/8 grams, while pure gold (24 carat) prices stand at Rs 1,20,952/8 grams.
Gold price today in Hyderabad
Standard gold (22 carat) prices in Hyderabad stand at Rs 1,09,312/8 grams, while pure gold (24 carat) prices stand at Rs 1,19,256/8 grams.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times.)
