what is the price of gold today 24 carat : June 02, 2025

what is the price of gold today 24 carat : June 02, 2025

As investors were increasingly concerned about the growing geopolitical unrest and Trump’s trade conflict with other countries, gold prices surged on the MCX on Monday. On June 2, 2025, gold futures reached an intraday high of ₹97,505 per 10 grams.

 

Today’s Gold Price: On Monday, June 2, 2025, investors retreated to safe-haven assets as a result of increased geopolitical tensions and concerns of a trade war, which caused gold prices on India’s Multi Commodity Exchange (MCX) to climb by about 2%.

Also Read : what is the price of gold today 24 carat : June 01, 2025

On Monday’s commodity market session, gold futures of the 5 June 2025 contract surged 1.7%, or ₹1,630 per 10 grams, to reach an intraday high of ₹97,505 per 10 grams, up from ₹95,875 per 10 grams at the previous market closing last week. As of 6:42 a.m. (EDT) Monday,US-based Comex gold was up 1.74 percent at $3,373.

 

When there are geopolitical concerns in the global market,investors often withdraw their funds from high-risk investments like the equity markets. Global market investors are concentrating on safe-haven assets such as government treasuries and gold.

During a rally in Pennsylvania, Donald Trump declared that starting the following week, he will boost the tariffs on steel imports into the US from 25% to 50%. However, on Sunday, June 1, 2025, Ukraine launched a drone attack against Russia, allegedly destroying over 40 military aircraft.

 

Gold Glows :
Following the drone assault on Sunday, June 1, 2025, Deveya Gaglani, a senior research analyst of commodities at Axis Securities, ascribed the increase in the price of the valuable yellow metal gold to the growing geopolitical tensions between Russia and Ukraine.

Selling occurred in the counter as a result of the United States’ better-than-expected consumer data print and a little recovery in the dollar index. After a Ukrainian drone attack damaged Russian jets over the weekend,geopolitical tensions between Russia and Ukraine escalated.

The commodity market analyst claimed that this caused a gap-up opening in the MCX.

Crucial points for gold :
This week,the U.S. manufacturing PMI,non-farm payrolls,and the unemployment rate will be the main topics of interest for commodity markets,according to Jateen Trivedi,VP Research Analyst of Commodity and Currency at LKP Securities.

When Ukraine started retaliatory strikes in response to heightened Russian offensives, Gold responded significantly to the resurgence of geopolitical tensions. According to the commodity market expert, this increase led to safe-haven buying, which raised Comex gold by $50 to $3,350 and MCX gold by ₹1,300 to ₹97,250.

According to the analysts,the key levels for MCX gold prices are ₹94,000.The resistance is anticipated to be between ₹98,500 and ₹99,000.

With a busy data calendar ahead and the resumption of safe-haven momentum,gold might try to challenge the $3,400 mark.

According to Trivedi,resistance is anticipated between ₹98,500 and ₹99,000. Support is located at $3,250 on Comex and ₹94,00 on MCX.

Disclaimer: The sole intention of this story is education. The opinions and suggestions expressed above are not those of bharatbulletin24x7.com,but rather those of individual analysts or broking firms. Before making any financial decisions,we encourage investors to consult with qualified professionals.