Gold rate today: Yellow metal rebounds; check the latest prices in your city on June 11

Gold rate on June 11

Gold prices opened higher on June 11 amid global uncertainties. Gold's August contracts on the Multi Commodity Exchange of India (MCX) opened at Rs 97,249 per 10 gram today.

Let's check the latest prices of 10 grams of 22 carat and 24 carat gold in major cities of the country on June 11:

"Geopolitical tensions remain high. Trump warned of increasing Iranian aggression in nuclear discussions, while Russia claimed control over territory in Ukraine’s east-central region. Today, gold prices have rebounded, trading above $3,360 per ounce. The uptick follows a US Court of Appeals decision allowing Trump-era tariffs to remain in place amid ongoing appeals. Market focus now shifts to upcoming US CPI data, which is expected to show inflation rising to 2.5% year-over-year, potentially intensifying concerns over the broader US economic outlook," said Kaynat Chainwala, AVP-Commodity Research at Kotak Securities.

Also read: Tighter RBI rules for gold loan collaterals; Here’s what you need to know

Notably, the rise in gold prices comes after consecutive sessions of decline. "Gold prices are stuck in a range so far in the week, as markets look for clarity on the U.S.-China trade talks with additional focus on the U.S. inflation data later in the day and U.S. Fed meeting next week. However, downside in the bullion looks limited amid geo-political and tariff related uncertainty - keep safe-haven demand firm," says Pranav Mer, Vice President, EBG - Commodity & Currency Research, JM Financial Services.

Also read: RBI releases final guidelines for Lending Against Gold and Silver Collateral

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