Kolkata: Gold price have grabbed headlines consistently for the past two years for remaining at elevated levels. Gold is a unique asset, which is used as a value preserver and, therefore, has global utility as a safe haven asset. But what has been the price of gold in India since the aggressive 50-point basis Repo rate cut by the Reserve Bank of India? It is worth to have a look at the spot prices over the past four days.
Gold prices can remain elevated since economic growth rate is expected to remain depressed as forecast by both the World Bank and OECD. Both agencies have expressed the opinion that the tariff war is set to trigger policy uncertainty and inflation and slowdown all over the world. Moreover, it will also have a negative impact in countries like India, which would have enjoyed a higher growth rate. India is expected to grow at 6.5% in FY26.
Expert agencies have said that the outlook for gold will remain bright this year and prices will remain at elevated levels. Apart form the above reaosns, the conflict bnetween Russia and Ukraine shows no sign of slowing. On the contrary, the conflict seems to be intensifying.
Gold prices since June 6
Different purity levels of gold have different prices. The following prices have been obtained from IBJA and pertain to 10 grams of Gold 999. This represents the highest purity level of the precious metal which is available in the market. Obviously these are spot prices.
June 11, 2025: Rs 96,055 (opening)
June 10, 2025: Rs 96,006 (opening), Rs 96,359 (closing)
June 9, 2025: Rs 95,718 (opening), Rs 95,864 (closing)
June 6, 2025: Rs 97,358 (opening), Rs 97,145 (closing)
It is quite clear that gold prices have been volatile over the past few days. They have remained between an upper limit of Rs 97,358 (opening of June 6) and Rs 95,864 (closing of June 9).
As we know gold has been a value preserver and safe haven asset since it is useful as a hedge against inflation. Most investors tend to buy gold when there is increased uncertainty in the market. Recently, gold has witnessed two bursts — one, during the Ukraine-Russia and Israel-Hamas conflict and two, during the tariff-induced turmoil unleashed by US President Donald Trump. The latter is still continuing though the US and China have begun a dialogue for amicable settlement of disputes.
(Disclaimer: This article is only meant to provide information. News9 does not recommend buying or selling shares or subscriptions of any IPO, Mutual Funds, precious metals, commodity, any form of alternative investment instruments and crypto assets.)
When interest rates decline, gold prices usually tend to go up since lower interest rates make gold a more attractive investment proposal. Unlike bonds or other debt instruments, gold doesn’t provide an interest income. Personal Finance Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
