More Stories

Informist, Wednesday, Jun. 10, 2026

By Taniva Singha Roy

MUMBAI – All-India average spot gold price opened lower, tracking prices on the Multi Commodity Exchange of India and the COMEX. Prices fell, as fresh US-Iran strikes led to fears that a prolonged conflict and higher oil prices could fuel inflation and prompt interest rate hikes by the Federal Reserve. The US launched military strikes on Iran Tuesday in response to the downing of a US Apache helicopter near the Strait of Hormuz, while Iran's Islamic Revolutionary Guard Corps launched a drone attack on the US Fifth Fleet in Bahrain. 

Gold of 99.9% purity opened at INR 148,429 per 10 grams, against Tuesday's closing price of INR 152,519 per 10 grams. The latest escalation in the war has increased uncertainty over prospects for a peace agreement and gradual reopening of the Strait, a critical artery for global energy shipments. Moreover, following stronger-than-expected US employment data, markets are currently pricing in a significant probability of a Fed rate hike by December, which also weighed on prices.

Physical gold demand remained subdued across major Asian markets, Amit Gupta, analyst at Kedia Advisory said in a note. "Indian buyers largely stayed on the sidelines due to volatile prices, while Chinese premiums eased slightly," he said.

Meanwhile, in Mumbai, spot gold opened at INR 147,550 per 10 grams and dealers were offering a discount of about INR 1,750 per 10 grams, Nitin Kedia, national general secretary of All India Jewellers & Goldsmith Federation, said. "Prices fell tracking lower international prices," he said.

In addition, demand is poor, which is why spot prices are down, but the discount has narrowed from the previous day, Kedia said. Demand is likely to increase after Jun. 16, once the Purushottam month ends, he added.  End

Edited by Avishek Dutta

For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.

Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd. by NSE Data & Analytics Ltd., a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt. Ltd.

Informist Media Tel +91 (22) 6985-4000 

Send comments to feedback@informistmedia.com

© Informist Media Pvt. Ltd. 2026. All rights reserved.