what is the price of gold today 24 carat : June 18, 2025

what is the price of gold today 24 carat : June 18, 2025

Profit booking caused gold prices to drop on the domestic futures market on June 18,even if the metal’s worth is supported by the ongoing tensions between Iran and Israel.

Today’s gold price: Despite growing tensions between Israel and Iran and concerns that the conflict could turn into a major regional war,gold prices fell in the local futures market Wednesday morning (June 18) due to profit booking.

Also Read : what is the gold rate today 24 carat : June 17, 2025

Despite broad anticipation that the US Federal Reserve will retain benchmark rates owing to increased geopolitical and tariff-related uncertainties,investors seem to be booking profits ahead of the central bank’s policy decision,which is scheduled for later today.

The August 5 contract for MCX Gold was down 0.16 percent at ₹99,385 per 10 grams.

The gold August futures contract ended the previous session at ₹99,541 per 10 grams,up roughly 0.40 percent as demand for safe havens was bolstered by the Israel-Iran confrontation. Experts noted,however,that gains for the yellow metal were limited by the US Fed’s expected lack of rate reduction, weak core and retail sales statistics, and cooling demand from Chinese markets.

On Tuesday,June 17,US President Donald Trump,who departed the G7 Summit early,sent a strong message to Tehran citizens to “immediately evacuate” as Israel and Iran engaged in missile fire for the fifth day in a row.

At its next meeting on June 17–18, the US Fed is anticipated to maintain interest rates at 4.25–4.5 percent. All eyes will be on the Fed’s dot plot for the future and the summary of economic projections. “Jerome Powell commentary and tone are crucial when discussing topics like inflation risk and global uncertainties,”stated Vaqarjaved Khan,Senior Fundamental Analyst at Angel One.

Since the dollar is about to reverse its slide,analysts at Axis Securities predict that gold prices will soon hit the $3,600–$3,800 range,where the brokerage firm advises swing traders to book profits.

On the downside, $3,245 is crucial; if it falls below there,there is a genuine chance of a larger decline below $3,000. In conclusion,Axis Securities states that $3,289 is the target price to watch between now and the end of the month.

Key levels for MCX Gold and Silver are highlighted by experts.
In today session,gold has support around $3,384-3,360 and resistance at $3,427-3,455 per troy ounce,while silver has support at $36.80-36.40 and resistance at $37.40-37.74 per troy ounce,according to Manoj Kumar Jain of Prithvifinmart Commodity Research.

“In contrast to silver,which has support at ₹1,08,000-1,07,200 and resistance at ₹1,09,750-1,10,600,MCX Gold has support at ₹99,100-98,650 and resistance at ₹99,850-1,00,200. With a stop loss of ₹1,07,200 and a goal of ₹1,10,000,we advise purchasing silver on dips around ₹1,08,000,” Jain stated.

Gold has support between $3,360 and $3,340 and resistance between $3,400 and $3,422, according to Rahul Kalantri,vice president of commodities at Mehta Equities. Support for silver is between $36.80 and $36.60,while resistance is between $37.45 and $3765. Gold has resistance around ₹99,950-1,00,240 and support at ₹98,920-98,590 in INR. The resistance for silver is at ₹1,09,900-1,10,750,while the support is at ₹1,08,150-1,07,450.

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. Since situations can change and market conditions can change quickly,we suggest clients to consult with qualified specialists before making any investment decisions.