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In India, 24 karat gold traded at ₹1,00,370 per 10 grams, while 22 karat stood at ₹92,000 per 10 grams, according to Goodreturns. 18 karat gold was priced at ₹75,280.
By Anshul June 17, 2025, 10:52:59 AM IST (Published)
Gold prices saw a mild rebound on Tuesday, June 17, as rising geopolitical tensions and investor caution ahead of the US Federal Reserve’s policy meeting lifted safe-haven demand.
As of 0418 GMT, spot gold rose 0.2% to $3,388.57 an ounce, recovering some ground after a more than 1% drop on Monday (June 16). US gold futures slipped 0.3% to $3,407.20 an ounce.
In India, 24 karat gold traded at ₹1,00,370 per 10 grams, while 22 karat stood at ₹92,000 per 10 grams, according to Goodreturns. 18 karat gold was priced at ₹75,280.
Geopolitical risks support gold
Gold’s uptick comes amid renewed conflict in West Asia. Israel reportedly struck Iran’s state broadcaster on Monday (June 16). Meanwhile, the UN nuclear agency confirmed damage to Iran’s key uranium facility.
US President Donald Trump, cutting short his G7 summit trip, advised civilians to evacuate Tehran—triggering fears of escalation.
“Market sentiment is fluctuating between escalation and de-escalation. These shifts are driving gold near the $3,400 level,” said Tim Waterer, Chief Market Analyst at KCM Trade.
Despite the tensions, gold remains volatile. Analysts suggest recent gains prompted some profit booking.
“Even with no signs of de-escalation in West Asia, gold prices are witnessing some cooling off. The geopolitical risk seems mostly priced in for now,” said Aksha Kamboj, VP at India Bullion and Jewellers Association.
Fed policy meeting eyed
Investors are closely tracking the US Federal Reserve’s two-day meeting that begins Tuesday. The Fed is widely expected to hold rates steady, but markets are focused on signals for future rate cuts.
“Uncertainty from both wars and interest rate expectations will likely keep gold prices choppy,” said Rahul Kalantri, VP Commodities at Mehta Equities.
Technical levels
According to Kalantri, gold faces support at $3,380–3,355 an ounce and resistance at $3,425–3,442 an ounce. In rupee terms, gold may find support at ₹98,620–98,390 per 10 grams, with resistance between ₹99,750–1,00,240 per 10 grams.
