what is the gold price today 24 carat : June 20, 2025
As tensions between Israel and Iran escalated, gold prices declined in the domestic futures market, with MCX Gold August 5 contracts down 0.53% at ₹98,799 per 10 kilos. As talks of US participation continue, the crisis intensifies.
Today’s gold price: Even if tensions between Israel and Iran continued to rise, gold prices fell in intraday trading on Friday, June 20, and the US currency fell following hawkish remarks made by US Federal Reserve Chair Jerome Powell. Around 4:45 PM,MCX Gold August 5 contracts were down 0.56% at ₹98,777 per 10 grams.
The second week of the Israel-Iran war has begun,with both nations bombing one another. Israeli Prime Minister Benjamin Netanyahu stated Thursday that although Israel’s military activities are not intended to overthrow Iran’s government,that could be a result of the continued confrontation, according to a Reuters report.
Iranian missiles struck an Israeli hospital overnight, and Israel blasted nuclear targets in Iran on Thursday, according to media sources. The Iranian Revolutionary Guard Corps (IRGC) has promised to attack Israel more frequently.
With the US and other nations actively involved, there are growing concerns that tensions between the two nations could turn into a serious crisis.
On Thursday, June 19, White House Press Secretary Karoline Leavitt stated that President Donald Trump will make a decision in two weeks on the US’s involvement in the Iran-Israel dispute.
Gold prices appear to be impacted by diminishing expectations of rate reduction from the US Federal Reserve, even though global uncertainty is good for gold prices.
According to Fed Chair Powell,when the effects of President Trump’s tariffs are felt by US consumers,inflation may increase throughout the summer.
On June 19,the Fed’s hawkish stance caused the dollar index to drop by around 0.40 percent.
Aksha Kamboj,Vice President of the India Bullion and Jewellers Association and Executive Chairperson of Aspect Global Ventures,noted that “gold prices remain sluggish,as concerns over potential high inflation signalled by the US Federal Reserve have overshadowed the safe-haven demand typically expected during geopolitical tensions like the ongoing Middle East crisis.”
Since gold doesn’t yield interest, rising inflation tends to hurt it. Any more bullion gains following a robust advance earlier in 2025 are probably contingent upon a notable intensification of the West Asian conflict. According to Kamboj, investor interest is currently moving toward alternate haven assets like platinum and silver.
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