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The deepening of the geopolitical crisis in the Middle East has intensified the turmoil in global markets. After the increasing tension in West Asia and the rise in crude oil prices, a big fall in the prices of gold and silver has been seen in the Indian bullion market. On June 8, 2026, the price of 24 carat pure gold has been recorded between Rs 1,52,720 to Rs 1,53,620 per 10 grams.

The price of 22 carat gold, most commonly used for making jewellery, has fallen between Rs 1,39,990 to Rs 1,40,818 per 10 grams. Silver prices have now hovered around Rs 2,41,000 to Rs 2,43,000 per kg, which is well below its previous all-time high. Usually, gold prices rise during times of crisis, but this time the situation has changed due to signals of interest rate hike by the US Federal Reserve and strengthening dollar index.

Precious metals are also under pressure due to fluctuations in the US Dollar Index (100.71) and strong economic data. The strengthening of the dollar in the international market directly means gold becoming expensive for other currencies and global demand falling. In the international market, the prices of Brent Crude Oil have also jumped by more than 4% and crossed $97 per barrel. Due to oil becoming expensive, the threat of rising inflation across the world is once again looming.

The Indian rupee is also under pressure due to strengthening of the dollar globally and withdrawal of money from the Indian market by foreign institutional investors. However, efforts by the Reserve Bank of India (RBI) to attract foreign capital are trying to support the rupee.

Recently, strong employment data and stable unemployment rate in America have strengthened the American economy, due to which investors have started withdrawing money from safe assets like gold and investing it in dollars. There is a possibility that interest rates may be increased in the upcoming US Fed meeting on June 16 and 17 or they may be kept high for a long time. When interest rates are high or expected to rise, the attractiveness of investing in gold reduces because there is no fixed interest or return on holding gold.

According to market analysts, investors should not take any major decisions in haste in view of geopolitical tensions and market fluctuations. At present, until gold again crosses the level of Rs 1,58,000 to Rs 1,60,000, this trend of fluctuations in the market may continue.

Keep in mind that the gold and silver prices given above do not include GST and jewelery making charges of the states, hence the final rates may differ from state to state retail shop. There may be slight variation in prices in different cities due to local taxes, transportation costs and jewelers’ making charges. This article has been written for information purposes only, do not consider it as investment advice. We do not guarantee or take any responsibility for the accuracy or reliability of any content. Investing in the market is subject to risks. Be sure to consult your financial advisor or market expert before making any type of investment.