MCX Outlook: Gold may hit Rs 1.02 lakh/10gm, Silver could surge to Rs 1.10 lakh/kg in coming weeks
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Gold price rallied by 0.4% in June 2025 to $3302 per ounce. However, prices rallied to highs of $3400/ounce at the start of June and then corrected downwards towards $3300/ounce mark by June end, on account of ease in geo-political tensions, (Israel-Iran ceasefire), clarity in tariff situation and host of other macro factors. On the contrary, silver outperformed gold in June (Silver gained by 9.41% in the international markets while Gold gained marginally by 0.4%) because of the fall in gold -silver ratio from over 100 to around 92-93 (fall in the ratio leads investors to move towards silver) combined with the critical $35/ounce mark that triggered momentum and technical buying on breakout. Moreover, Silver supply has been in deficit for 5 years in a row, and depleting inventories and a record ETF inflows of over $1.6 billion in June boosted market sentiment for the metal. The divergence in returns from both these metals apart from the ce...