Key facts
- Gold and silver prices continued to fall on June 11, 2026, leading to lower jewellery rates.
- US inflation data for May showed a 4.2% increase, matching forecasts and fueling rate hike concerns.
- Geopolitical tensions in the Middle East, including strikes on Iran and retaliatory actions, are contributing to inflation fears.
- Jewellery retailers like Tanishq, Malabar Gold & Diamonds, and Joyalukkas adjusted their gold prices downwards across major Indian cities.
- IBJA reported a decrease in fine gold and 22k gold prices per gram, but a slight increase in silver prices per kg on June 11 compared to June 10.
Gold and silver prices continued their downward trend on June 11, 2026, with major jewellery retailers reducing their rates across key Indian cities. This decline follows a sharp correction in bullion prices, influenced by geopolitical developments in the Middle East and persistent inflation concerns that could prompt further interest rate hikes by the US Federal Reserve.
US consumer inflation rose 4.2% in May, matching forecasts and marking the largest annual gain since April 2023. This data, coupled with disruptions to Persian Gulf energy flows due to the closure of the Strait of Hormuz, fuels inflation fears and the possibility of continued rate hikes. Despite the completion of US strikes on Iran, which initially raised hopes for peace talks and easing inflation, retaliatory actions and warnings from leaders have maintained geopolitical tensions.
Jewellery brands like Tanishq, Malabar Gold & Diamonds, Joyalukkas, and Kalyan Jewellers have lowered their prices for 22-karat, 24-karat, and 18-karat gold. For instance, Tanishq's price for 22k gold jewellery in New Delhi decreased from Rs 13,590 per gram on June 10 to Rs 13,395 per gram on June 11. Similarly, other major retailers saw price drops. The India Bullion and Jewellers Association (IBJA) also reported a decrease in fine gold and 22k gold prices per gram, although silver prices saw a slight increase per kilogram.