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What is the story about?
Gold and silver prices edged higher in domestic futures trade on Tuesday (June 9), supported by fresh buying interest and continued investor caution ahead of key US inflation data and evolving geopolitical developments in West Asia.
On the Multi Commodity Exchange (MCX), gold futures for August delivery rose ₹46, or 0.03%, to ₹1.54 lakh per 10 grams. Silver futures for July delivery gained ₹861, or 0.35%, to ₹2.47 lakh per kg.
Market participants attributed the gains to fresh positions being built in precious metals, while investors continued to monitor global macroeconomic and geopolitical developments.
In international markets, gold futures rose 0.33% to $4,344 per ounce, while Comex silver futures gained 0.44% to $68 per ounce.
Ravi Singh, Chief Research Officer at Master Capital Services, said gold has managed to hold above its 55-day exponential moving average (EMA), indicating that buyers continue to defend key support levels.
He noted that a sustained move above these resistance levels could improve near-term sentiment and support a broader recovery in prices.
Global markets await US inflation data
International gold prices have remained under pressure in recent sessions as markets assess the impact of a pause in hostilities between Iran and Israel, reducing demand for traditional safe-haven assets.
At the same time, investors are awaiting the release of US Consumer Price Index (CPI) data, which could provide fresh signals on the Federal Reserve's interest-rate trajectory. A stronger US dollar and easing geopolitical tensions have also capped gains in bullion.
Silver continues to outperform
Silver posted stronger gains than gold, supported by both safe-haven demand and its industrial usage profile. Analysts said fresh investor participation and lingering geopolitical uncertainty helped keep prices elevated.
The broader impact of tensions in West Asia is also being felt beyond commodity markets.
Shivani Nirupam, Creative Director and Founder of The Third Eye, said disruptions in the region could increase production and logistics costs across global supply chains, including India's textile and fashion sector.
According to Nirupam, rising fuel costs, trade route disruptions and delays in raw material movement could eventually lead to higher prices for apparel, particularly in premium and imported fabric segments. She added that while India has a strong domestic textile ecosystem, the industry remains closely linked to global supply chains and is therefore vulnerable to geopolitical disruptions.
On the Multi Commodity Exchange (MCX), gold futures for August delivery rose ₹46, or 0.03%, to ₹1.54 lakh per 10 grams. Silver futures for July delivery gained ₹861, or 0.35%, to ₹2.47 lakh per kg.
Market participants attributed the gains to fresh positions being built in precious metals, while investors continued to monitor global macroeconomic and geopolitical developments.
In international markets, gold futures rose 0.33% to $4,344 per ounce, while Comex silver futures gained 0.44% to $68 per ounce.
Ravi Singh, Chief Research Officer at Master Capital Services, said gold has managed to hold above its 55-day exponential moving average (EMA), indicating that buyers continue to defend key support levels.
He noted that a sustained move above these resistance levels could improve near-term sentiment and support a broader recovery in prices.
Global markets await US inflation data
International gold prices have remained under pressure in recent sessions as markets assess the impact of a pause in hostilities between Iran and Israel, reducing demand for traditional safe-haven assets.
At the same time, investors are awaiting the release of US Consumer Price Index (CPI) data, which could provide fresh signals on the Federal Reserve's interest-rate trajectory. A stronger US dollar and easing geopolitical tensions have also capped gains in bullion.
Silver continues to outperform
Silver posted stronger gains than gold, supported by both safe-haven demand and its industrial usage profile. Analysts said fresh investor participation and lingering geopolitical uncertainty helped keep prices elevated.
The broader impact of tensions in West Asia is also being felt beyond commodity markets.
Shivani Nirupam, Creative Director and Founder of The Third Eye, said disruptions in the region could increase production and logistics costs across global supply chains, including India's textile and fashion sector.
According to Nirupam, rising fuel costs, trade route disruptions and delays in raw material movement could eventually lead to higher prices for apparel, particularly in premium and imported fabric segments. She added that while India has a strong domestic textile ecosystem, the industry remains closely linked to global supply chains and is therefore vulnerable to geopolitical disruptions.
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