Key facts
- Gold and silver prices declined on June 10, 2026.
- Geopolitical tensions in the Middle East and US interest rate hike expectations contributed to the decline.
- Major Indian jewelers like Tanishq, Malabar Gold & Diamonds, Joyalukkas, and Kalyan Jewellers lowered their gold rates.
- IBJA reported significant decreases across various gold karats and silver prices from June 9 to June 10, 2026.
- Gold broke below the $4,300 support level, with technical targets set at $4,000–$4,100.
Gold and silver prices experienced a decline on June 10, 2026, with major Indian jewelry retailers reporting lower rates compared to the previous day. This downturn is attributed to escalating geopolitical tensions in the Middle East and shifting market expectations regarding US interest rates.
Bullion market experts noted that precious metals came under pressure following US retaliatory strikes on Iran, which heightened concerns about the stability of the Strait of Hormuz, a critical global energy route. Prithviraj Kothari, managing director at RiddiSiddhi Bullions Ltd. and president of IBJA, stated that the escalation threatens a fragile ceasefire and risks prolonging the closure of this vital energy corridor. On the macroeconomic front, CME FedWatch data indicates that markets are pricing in over a 70% probability of a Federal Reserve rate hike by December, with upcoming May CPI and PPI data adding to the uncertainty.
Technically, gold has fallen below the $4,300 support level, with targets now set between $4,000 and $4,100. Silver's breach of $66 has opened the possibility of a move towards $60.
Specific prices from leading jewelry brands on June 10, 2026, showed a decrease from June 9. Tanishq's 22k gold jewelry was priced at Rs 13,690 per gram, down from Rs 14,085. Malabar Gold & Diamonds, Joyalukkas, and Kalyan Jewellers all listed their 22k gold jewelry at Rs 13,645 per gram, a decrease from Rs 14,040 the previous day.
Indicative retail selling rates from IBJA for June 10, 2026, showed Fine Gold (999) at Rs 14,843 per gram, 22 KT at Rs 14,487, 20 KT at Rs 13,210, 18 KT at Rs 12,023, and 14 KT at Rs 9,574. Silver (999) was priced at Rs 2,36,280 per kg. These rates represent a decrease from IBJA's rates on June 9, 2026, with Fine Gold (999) falling by Rs 409 per gram and 22 KT Gold by Rs 399 per gram.