Gold heading towards Rs 101,000/10gms in near term!

 

The next target is Rs 111,000 if this positive momentum continues 

Colin Shah, MD, Kama Jewelry said, "The gold prices in India hitting an all-time-high is on the much-expected lines given the latest development in international geopolitical tensions, and weakening of the INR. The uncertainties drive up the demand of gold as a safe investment haven as compared to other asset classes. The price trend is going to face some resistance which will keep it below 1 lakh in the short-term. 

However, prices may see some correction due to bouts of volatility. We anticipate prices to hover in the range of Rs. 1,00,200 - 1,00,500 on MCX, subject to international economic influences."

In the row it is interesting to focus on Augmont Bullion’s Daily report for the 10, 11 & 12 June 2025, where, Indian Gold resistance that recorded at Rs 99000/10 gm and Indian Silver Resistance Level at Rs 111,000/kg. And these resistance barriers that broken away on the Friday, June 13, at the weekend and Augmont Bullion report said, gold leaps to record high as Israel declares state of emergency.  

In the row, Gold surged beyond $3400 (around Rs 100,000), hitting its highest level as investors sought refuge from growing economic uncertainties and geopolitical concerns. Following Israel's preemptive strike against Iran, which sharply increased concerns about a wider Middle East conflict, the rally was held. Israeli Defense Minister Israel Katz announced a special state of emergency and issued a warning that Israeli citizens would soon be the target of a missile and drone attack.  

President Donald Trump threatened to impose unilateral tariffs to pressure trading partners, though Treasury Secretary Scott Bessent suggested the current 90-day tariff pause could be extended. On the economic front, softer-than-expected US consumer and producer inflation data earlier this week increased expectations for additional Federal Reserve rate cuts this year, providing further support for non-yielding assets like gold.  

All those scenarios, vibrated technical triggers & that suggest, gold prices have given a breakout of its resistance of $3425(~Rs 99000), and now it seems we are heading towards the previous high of $3500 (~Rs 101,000) in the near term. Silver is consolidating in a range of $36.5(~Rs 106,000) and $37 (~Rs 107,000) after a sharp rally. The next target is $38 (~Rs 111,000) if this positive momentum continues.