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In India, 24 karat gold was priced at ₹97,260 per 10 grams, 22 karat at ₹89,150, and 18 karat at ₹72,940, according to Goodreturns.
By Anshul June 30, 2025, 11:33:47 AM IST (Published)
Gold prices inched higher on Monday (June 30) after falling to a one-month low earlier in the session. A weaker US dollar offered some support, but improving global risk sentiment and firm equity markets kept gains in check.
Spot gold rose 0.1% to $3,277.62 per ounce, while US gold futures held at $3,288.90 an ounce. In India, 24 karat gold was priced at ₹97,260 per 10 grams, 22 karat at ₹89,150, and 18 karat at ₹72,940, according to Goodreturns.
Market sentiment shifted away from safe-haven assets as geopolitical concerns eased. A resolution on US-China trade issues and a holding ceasefire in the Middle East contributed to reduced demand for gold. The U.S. dollar index declined 0.2%, making gold relatively more affordable in other currencies.
Jateen Trivedi, VP Research Analyst – Commodity and Currency at LKP Securities, noted that gold prices remained under pressure following a break below $3,300 an ounce on Comex.
“Improving risk appetite and delayed rate cut expectations have triggered profit-booking in gold. On the MCX, prices may trade between ₹93,000 and ₹97,500 per 10 grams,” he said.
Fed Chair Jerome Powell recently signaled that interest rate cuts are not imminent, dampening investor expectations of monetary easing. US economic data presented a mixed outlook, with revised GDP growth lower but durable goods orders showing strength.
According to Prithviraj Kothari, MD, RiddiSiddhi Bullions, gold may retest support at $3,275 an ounce (₹96,000 per 10 grams) if it remains below $3,330 an ounce (₹97,000 per 10 grams). Resistance is seen near $3,385 an ounce (~₹98,000 per 10 grams).
NS Ramaswamy, Head of Commodities at Ventura, said gold continues to face resistance around $3,300 an ounce. He added that falling oil prices and a firm equity market are reducing gold’s appeal.
Analysts expect gold to remain range-bound in the near term, with direction guided by upcoming US macroeconomic data, particularly employment and inflation indicators.
