Gold and Silver Prices in India Today, 18 June 2026: 24K Gold Steady at ₹1,51,100, Silver Near ₹2,60,000 as Fed Rate Hike Odds Ease to 58%

Gold and silver prices in India remained largely steady on Thursday, 18 June 2026, even as global markets reacted to geopolitical developments in West Asia and mixed signals from the US dollar. As per the latest retail market rates, 24-carat gold is trading around ₹15,109 per gram, while 22-carat gold is priced near ₹13,849 per gram. Silver prices are hovering close to ₹2,60,000 per kilogram in the domestic bullion market.

On the Multi Commodity Exchange, gold settled slightly lower at ₹1,52,748 per 10 grams on Wednesday, while silver fell nearly 0.43% to ₹2,49,022 per kg. The key driver remains reduced expectations of a US Federal Reserve rate hike later this year, with markets now focused on the central bank's policy path under new Chair Kevin Warsh.

Quick Snapshot

City-Wise Gold and Silver Rates Today, 18 June 2026

Prices vary slightly across cities due to local taxes, transportation costs, and jewellers' margins.

Rates are indicative bullion prices as of 18 June 2026. Jewellery purchases include additional making charges and GST. Chennai typically carries a premium over other cities.

Gold and Silver Prices in India Today, 17 June 2026: 24K Gold Holds Near ₹1,51,100, Silver Jumps to ₹2,65,000 Ahead of Fed Decision

Gold and silver prices in India today, 17 June 2026: 24K gold held near ₹1,51,100 per 10g while silver jumped 5.38% to ₹2,65,000 per kg, as markets stayed cautious on West Asia tensions ahead of the Fed’s rate decision. Check city-wise rates and MCX data.

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Gold Price Analysis Today

24K gold is trading around ₹1,51,100 per 10 grams today, while physical bullion prices on Wednesday were around ₹1,50,148 per 10 grams. On MCX, gold settled slightly lower at ₹1,52,748 per 10 grams in Wednesday's session, a gain of 0.11% from the previous close of ₹153,091, reflecting reduced expectations of a US Federal Reserve rate hike later this year.

Market sentiment got a lift from the interim US-Iran peace agreement, which extends the existing ceasefire and facilitates the reopening of the Strait of Hormuz, easing supply concerns in global energy markets. Lower oil prices, with crude trading around $77.57 a barrel, have reduced inflationary pressure and prompted traders to lower their expectations of further monetary tightening.

US economic data has also added to gold's support. Housing starts fell 15.4% in May to an annualised rate of 1.177 million units, the lowest level since May 2020 and well below market expectations. The weaker housing data reinforced the case for a more cautious Fed. Market participants have lowered the odds of a December rate hike to 58%, down from nearly 70% earlier, with attention now centred on the upcoming Fed policy decision under new Chair Kevin Warsh.

Physical demand trends remain mixed across major consuming countries. In India, jewellery demand saw a modest improvement as softer prices encouraged some buying, though overall retail confidence stays subdued. Global gold ETFs saw net outflows of $2 billion in May, driven mainly by Asia and North America, even as year-to-date inflows remain firmly positive. Central bank demand continues to provide long-term support, with a World Gold Council survey showing 45% of reserve managers plan to increase their gold holdings over the coming year.

Technically, gold is seeing short covering, with open interest down 0.84% even as prices rose. Support is at ₹1,52,445, with further support at ₹1,51,800. Resistance is at ₹1,53,650, and a sustained move above this level could open the way towards ₹1,54,210.

Silver Price Analysis Today

Silver is trading close to ₹2,60,000 per kilogram in the domestic bullion market today, up sharply from MCX's Wednesday close of ₹2,49,022 per kg. Goodreturns data shows silver near ₹2,60,000/kg, while a separate retail estimate from BusinessToday puts the figure slightly higher at around ₹2,64,900 per kg, underlining how quickly retail bullion association rates are catching up after this week's volatility.

On MCX, silver had faced selling pressure on Wednesday, falling nearly 0.43% to ₹2,49,022 per kg, even as physical market rates stayed slightly higher at about ₹2,47,688 per kg. Investors took a cautious approach in anticipation of the Fed's monetary policy decision and sought additional clarity on the US-Iran peace agreement. Despite the dip, downward pressure was limited as expectations around the Strait of Hormuz reopening eased fears of an energy-driven inflation crisis, reducing the odds of tighter monetary policy.

Fundamental demand indicators for silver remain supportive. China's silver imports surged to a record 836 metric tonnes in March, nearly three times the historical average, driven by strong retail investment and proactive stockpiling by photovoltaic manufacturers ahead of tax policy changes. In contrast, India's silver imports fell 87% year-on-year in May, the lowest level in over three years, due to stricter import regulations and higher duties on precious metals.

Technically, the market is seeing long liquidation, with open interest down 2.37% alongside falling prices. Silver has immediate support at ₹2,46,800, with further downside support at ₹2,43,495. On the upside, resistance is at ₹2,53,155, and a sustained breakout above this level could open the way towards ₹2,56,205.

MCX Futures Data Today, 18 June 2026

Gold Futures (August 2026 Contract)

Silver Futures (July 2026 Contract)

Source: BusinessToday, Bullions.co.in. MCX closing levels as of Wednesday, 17 June 2026 session; live intraday data for 18 June was not yet reflected on Bullions.co.in at the time of writing.

Gold is currently undergoing short covering, with a 0.84% drop in open interest accompanying a rise in price, a sign of bearish positions being unwound rather than fresh bullish conviction. Silver, on the other hand, is experiencing long liquidation, with a 2.37% fall in open interest alongside lower prices, indicating existing long positions are being closed out. Traders should watch the ₹1,53,650 resistance on gold and the ₹2,53,155 resistance on silver as the next directional triggers.

Key Factors Influencing Gold and Silver Rates Today

Fed Rate Hike Odds Ease to 58%: Market participants have lowered the probability of a December rate hike to 58%, a decline from almost 70% earlier, as focus shifts to the Federal Reserve's policy path under new Chair Kevin Warsh. Lower rate hike odds are generally supportive for gold and silver, which pay no yield.

US-Iran Interim Peace Deal Holds: The interim agreement extends the existing ceasefire and facilitates the reopening of the Strait of Hormuz, easing supply concerns in global energy markets. This has reduced the geopolitical risk premium that had been supporting bullion earlier in the month.

Weak US Housing Data: Housing starts fell 15.4% in May to an annualised rate of 1.177 million units, the lowest level since May 2020. Building permits also declined 0.7% to 1.413 million units, reinforcing expectations that the Fed will stay cautious on further rate hikes.

India's Silver Imports Collapse 87%: India's silver imports fell 87% year-on-year in May, reaching the lowest level in over three years, due to stricter import regulations and increased duties on precious metals. This could tighten domestic supply over time even as near-term demand stays muted.

China's Silver Demand Stays Robust: China's silver imports surged to a record 836 metric tonnes in March, nearly three times the historical average, driven by retail investment demand and stockpiling by photovoltaic manufacturers ahead of tax policy changes.

Smart Buying Tips

Watch the Fed decision under Chair Warsh closely. With rate hike odds down to 58%, any dovish signal from the new Fed Chair could be a significant positive trigger for both metals. A more hawkish tone could quickly reverse this week's gains.

Silver's sharp retail jump warrants a wait-and-watch approach. The gap between MCX's ₹2,49,022 close and retail rates near ₹2,60,000–2,64,900 is unusually wide. Confirm the trend over the next few sessions before making a large purchase.

Use the current dip in gold for staged buying. Gold remains up over 51% year-on-year despite this month's volatility. Long-term investors may continue accumulating in tranches rather than waiting for a single ideal entry point.

Always insist on BIS hallmarking. Every piece of gold jewellery should carry a six-digit HUID confirming government-certified purity, especially important with wedding season demand picking up.

FAQs

Why have Fed rate hike expectations eased this week?
Weak US housing data, including a 15.4% fall in housing starts to the lowest level since May 2020, has reinforced expectations that the Federal Reserve will stay cautious on further rate increases. Market participants have lowered December rate hike odds to 58%, down from nearly 70% earlier, which is generally positive for gold and silver prices.

Who is Kevin Warsh and why does he matter for gold prices?
Kevin Warsh is the new Chair of the US Federal Reserve. Markets are closely watching his first policy moves, as his stance on interest rates will directly influence gold and silver prices. A more dovish approach from the new Fed Chair would likely support bullion prices, while a hawkish stance could weigh on them.

Why did India's silver imports fall so sharply?
India's silver imports declined 87% year-on-year in May, reaching the lowest level in over three years. This is mainly due to stricter import regulations and higher duties imposed on precious metals, which have made it more expensive and complex for importers to bring in silver.