Gold rate today: Yellow metal rises; check the latest prices in your city on June 6

Gold prices opened higher on June 6 amid global uncertainties. Gold’s August contracts on the Multi Commodity Exchange of India (MCX) opened at Rs 98,248 per 10 gram today.

Let’s check the latest prices of 10 grams of 22 carat and 24 carat gold in major cities of the country on June 6:

(According to data on Good Returns)

Also read: Gold, silver outshine stocks amid volatility and geopolitics, rally likely to extend

“The yellow metal is shining bright on account of factors revolving around the escalation of geo-political tensions between Russia-Ukraine although they are sitting on the negotiation table discussing peace, combined with the tariff situation between US-China. China on the other hand has imposed tighter controls on rare earth exports which could disrupt the car production in those countries who import these rare earth commodities leading to escalation of tensions in the global world,” said Prathamesh Mallya, DVP- Research, Non-Agri Commodities and Currencies, Angel One.

Mallya added, “Gold reacts to uncertainties and these trade escalations, and geo-political tensions are major drivers for volatility in gold prices. In the week ahead, we see gold prices on the COMEX to move higher towards $3500/ounce mark while MCX gold prices might rally towards Rs.1,00,000/10 gms mark in a week time frame. “

Also read: Copper, gold and cotton buck the trend as US imports fall sharply in April

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