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  • Gold rate today: Gold prices cross Rs 1 lakh mark again on rising Israel-Iran tensions; where is yellow metal headed?

    Gold rate today: Gold prices cross Rs 1 lakh mark again on rising Israel-Iran tensions; where is yellow metal headed?

    Gold and silver prices increased further as Middle East tensions between Israel and Iran intensified. (AI image)

    Gold rate today: Gold August futures on the MCX surged Rs 2,011 or 2.04% higher, surpassing Rs 1 lakh to reach Rs 1,00,403 per 10 grams on Friday, driven by safe-haven purchases due to Israel-Iran conflicts and a weakening dollar index.Silver July futures demonstrated positive movement, commencing trading at Rs 1,06,695 per kg, reflecting an increase of Rs 810 or 0.76%.The previous day witnessed positive closures for both precious metals in domestic and international markets. Gold August futures concluded at Rs 98,392 per 10 grams with a 1.75% gain, whilst silver July futures finished at Rs 1,05,885 per kg, increasing by 0.47%.

    Why are gold & silver prices rising?

    Gold and silver prices increased further as Middle East tensions between Israel and Iran intensified. International gold prices exceeded $3,400 per troy ounce due to safe-haven demand. Indian gold futures achieved an unprecedented milestone, exceeding Rs 1 lakh per 10 grams, according to an ET report.The declining dollar index supported precious metal prices. The US Dollar Index, DXY, registered at 98.23, showing a decrease of 0.31 or 0.32%.The intensifying situation in the Middle East has raised apprehensions regarding potential interruptions to global oil distribution, particularly affecting crucial pathways such as the Strait of Hormuz.Also Check | Gold price prediction today: What’s the gold rate outlook for June 13, 2025 after Israel strikes Iran – should you buy or sell?The Israeli administration verified in the early hours of Friday that it conducted aerial attacks on Iran, with detonations noted in Tehran. These military actions were conducted as part of Israel’s systematic operations to weaken Iran’s nuclear facilities and missile development programmes.The United States Producer Price Index and Core PPI figures disclosed on Thursday suggest decreasing inflation rates in the US, potentially allowing the Federal Reserve to consider interest rate reductions. Additionally, US unemployment claims increased to 248,000, which positively influenced precious metal valuations.“Gold prices hit 6-week highs and prices sustaining above $3,400 could show further strength in the upcoming session,” said Manoj Kumar Jain of Prithvifinmart Commodity Research.“We expect gold and silver prices to remain volatile in today’s session amid volatility in the dollar index and geo-political tensions; gold prices could hold its key support level of $3,330 per troy ounce and silver prices could also hold $35.00 per troy ounce levels on a weekly closing basis,” he told ET.Renisha Chainani, Head of Research at Augmont, stated that “unless there is a sudden shift in global risk sentiment or aggressive monetary tightening, gold will likely remain firm, potentially heading towards Rs 1,05,000 in the medium term.”According to Manav Modi, Senior Analyst at Motilal Oswal Financial Services, gold has demonstrated remarkable growth, surging over 30% since the year’s beginning, despite notable price variations.Also Read | Gold vs Silver: Why silver may outperform gold soon; precious metal prices surge, record-breaking rally likelyThe price fluctuations are attributed to several factors, including President Trump’s tariff modifications, international political tensions, and worldwide economic growth concerns. Despite the adjustment in US-China tariffs, persistent market uncertainty and underwhelming US economic indicators continue to bolster gold valuations.In his long-term assessment, Modi identifies substantial support levels between Rs 88,000-90,000 per 10 grams and advocates purchasing during price declines. His forecast suggests gold prices could advance to Rs 1,00,000-1,06,000 over the next 12-15 months, provided crucial support levels hold steady.



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  • Dozens of Israeli Warplanes Bombed Iran, Targeting Its Nuclear Program

    Israeli warplanes have struck Iran, delivering what officials say is a major assault against Tehran’s nuclear and missile programs.

    The Israeli military launched a large-scale preemptive strike against Iran early Friday in an attempt to crush the country’s ability to build a nuclear weapon, officials said. The operation marked a major escalation and is likely to draw a response from Tehran.

    The Israel Defense Forces said dozens of aircraft recently completed the first wave of strikes, attacking dozens of military targets, including “nuclear targets” in different areas across Iran.

    The IDF said the strikes were based on “high-quality intelligence” and intended to damage Iran’s nuclear program.

    Israeli Prime Minister Benjamin Netanyahu said in a video statement that the operation, nicknamed “Rising Lion,” will continue for “as many days as it takes” to remove what he characterized as an existential threat to his country.


    Smoke rises after an explosion in Tehran early on Friday.

    AP Photo/Vahid Salemi



    Netanyahu said Iran has made enough highly enriched uranium for nine atom bombs and has taken unprecedented steps in recent months to weaponize the material and produce a weapon in a short time. He did not provide evidence to support his claim.

    The Israeli leader said that his forces targeted Iran’s nuclear enrichment program, its nuclear weaponization programs, its main enrichment facility of Natanz, its top nuclear scientists, and its ballistic missile program. The extent of the damage is unclear; some of Iran’s critical nuclear facilities are buried deep underground, making them particularly challenging targets.

    The semi-official Tasnim news agency, which is associated with Iran’s Islamic Revolutionary Guard Corps, shared footage and photos of damage purportedly caused by the Israeli strikes, including partially damaged buildings and plumes of smoke rising from neighborhoods. Business Insider could not independently verify the imagery.

    Tasnim also reported that Major General Hossein Salami, IRGC commander-in-chief, was killed in an Israeli strike on his headquarters.

    US Secretary of State Marco Rubio said the US was not involved in the Israeli strikes against Iran. In a statement, he said the Trump administration has taken steps to protect its forces in the Middle East and warned Iran not to retaliate against American assets in the region.


    A view of a damaged building after Israeli aircraft bombed Iran.

    ajid Asgaripour/WANA (West Asia News Agency) via REUTERS



    The strikes are likely to derail ongoing talks between the US and Iran to reach a new nuclear deal and could draw a significant military response from Tehran, which has already launched two major missile attacks on Israel since October 7, 2023, the day a Hamas massacre against Israel sent the region spiraling into war and violence.

    The Trump administration and Netanyahu have very different views on how to handle Iran, with the Israeli leader long pressing for military action. The White House, however, has favored the diplomatic route.

    Israeli officials have long said that they will not allow Iran to obtain a nuclear weapon. Tehran, meanwhile, asserts that its nuclear program is for civilian, not military, purposes.

    Brig. Gen. Effie Defrin, the IDF spokesperson, said that the country had “no choice” but to attack Iran. Without presenting specific evidence, he said that Tehran’s nuclear program is an “imminent and existential threat” that could pose a global threat.



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  • Market Talk – June 12, 2025

    ASIA:

    The major Asian stock markets had a mixed day today:

    • NIKKEI 225 decreased 248.10 points or -0.65% to 38,173.09

    • Shanghai increased 0.34 points or 0.01% to 3,402.66

    • Hang Seng decreased 331.56 points or -1.36% to 24,035.38

    • ASX 200 decreased 27.00 points or -0.31% to 8,565.10

    • SENSEX decreased 823.16 points or -1.00% to 81,691.98

    • Nifty50 decreased 253.20 points or -1.01% to 24,888.20

    The major Asian currency markets had a mixed day today:

    • AUDUSD increased 0.00267 or 0.41% to 0.65272

    • NZDUSD increased 0.00278 or 0.46% to 0.60622

    • USDJPY decreased 0.92 or -0.64% to 143.640

    • USDCNY decreased 0.02587 or -0.36% to 7.17282

    The above data was collected around 12:29 EST.

    Precious Metals:

    • Gold increased 22.79 USD/t oz. or 0.68% to 3,388.33

    • Silver decreased 0.073 USD/t. oz. or -0.20% to 36.274

    The above data was collected around 12:31 EST.

    .

    EUROPE/EMEA:

    The major Europe stock markets had a mixed day today:

    • CAC 40 decreased 10.79 points or -0.14% to 7,765.11

    • FTSE 100 increased 20.57 points or 0.23% to 8,884.92

    • DAX 30 decreased 177.45 points or -0.74% to 23,771.45

    The major Europe currency markets had a mixed day today:

    • EURUSD increased 0.00839 or 0.73% to 1.15715

    • GBPUSD increased 0.00452 or 0.33% to 1.35868

    • USDCHF decreased 0.00824 or -1.00% to 0.81242

    The above data was collected around 12:34 EST.

    US/AMERICAS:

    US Market Closings:

    • Dow advanced 101.85 points or 0.24% to 42,967.62
    • S&P 500 advanced 23.02 points or 0.38% to 6,045.26
    • Nasdaq  advanced 46.61 points or 0.24% to 19,662.48
    • Russell 2000 declined 8.14 points or -0.38% to 2,140.09

     

    Canada Market Closings:

    • TSX Composite advanced 91.59 points or 0.35% to 126,615.75
    • TSX 60 advanced 3.98 points or 0.25% to 1,586.99

     

    Brazil Market Closing:

    • Bovespa advanced 671.7 points or 0.49% to 137,799.74

    ENERGY:

    The oil markets had a mixed day today:

    • Crude Oil decreased 0.112 USD/BBL or -0.16% to 68.038

    • Brent decreased 0.262 USD/BBL or -0.37% to 69.508

    • Natural gas increased 0.0245 USD/MMBtu or 0.70% to 3.5315

    • Gasoline decreased 0.0215 USD/GAL or -0.99% to 2.1470

    • Heating oil decreased 0.0173 USD/GAL or -0.78% to 2.1913

    The above data was collected around 12:36 EST.

    • Top commodity gainers: Platinum (1.74%), Orange Juice (2.71%), Cocoa (2.32%) and Bitumen (1.78%)

    • Top commodity losers: Wheat (-1.16%), Rubber (-2.14%), Sugar (-1.03%) and Palladium (-1.16%)

    The above data was collected around 13:08 EST.

    BONDS:

    Japan 1.4600% (-0.08bp), US 2’s 3.92% (-0.038%), US 10’s 4.3560% (-7.1bps); US 30’s 4.84% (-0.079%), Bunds 2.475% (-6.35bp), France 3.185% (-4.4bp), Italy 3.4280% (-2.4bp), Turkey 31.02% (+36bp), Greece 3.2500% (+1bp), Portugal 2.987% (-1.9bp); Spain 3.0850% (-3.7bp) and UK Gilts 4.4820% (-6.9bp)

    The above data was collected around 13:13 EST.

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  • Here are the three reasons why tariffs have yet to drive inflation higher

    Shoppers browse the frozen food cases at WinCo.

    Joe Jaszewski | Idaho Statesman | Tribune News Service | Getty Images

    Despite widespread fears to the contrary, President Donald Trump‘s tariffs have yet to show up in any of the traditional data points measuring inflation.

    In fact, separate readings this week on consumer and producer prices were downright benign, as indexes from the Bureau of Labor Statistics reported that prices rose just 0.1% in May.

    The inflation scare is over, then, right?

    To the contrary, the months ahead are still expected to show price increases driven by Trump’s desire to ensure the U.S. gets a fair shake with its global trading partners. So far, though, the duties have not driven prices higher, save for a few areas that are particularly sensitive to higher import costs.

    At least three factors have conspired so far to keep inflation in check:

    • Companies hoarding imported goods ahead of the April 2 tariff announcement.
    • The time it takes for the charges to make their way into the real economy.
    • The lack of pricing power companies face as consumers tighten belts.

    “We believe the limited impact from tariffs in May is a reflection of pre-tariff stockpiling, as well as a lagged pass-through of tariffs into import prices,” Aichi Amemiya, senior economist at Nomura, said in a note. “We maintain our view that the impact of tariffs will likely materialize in the coming months.”

    This week’s data showed isolated evidence of tariff pressures.

    Canned fruits and vegetables, which are often imported, saw prices rise 1.9% for the month. Roasted coffee was up 1.2% and tobacco increased 0.8%. Durable goods, or long-lasting items such as major appliances (up 4.3%) and computers and related items (1.1%), also saw increases.

    “This gain in appliance prices mirrors what happened during the 2018-20 round of import taxes, when the cost of imported washing machines surged,” Joseph Brusuelas, chief economist at RSM, said in his daily market note.

    One of the biggest tests, though, on whether the price increases will prove durable, as many economists fear, or as temporary, the prism through which they’re typically viewed, could largely depend on consumers, who drive nearly 70% of all economic activity.

    The Federal Reserve’s periodic report on economic activity issued earlier this month indicated a likelihood of price increases ahead, while noting that some companies were hesitant to pass through higher costs.

    “We have been of the position for a long time that tariffs would not be inflationary and they were more likely to cause economic weakness and ultimately deflation,” said Luke Tilley, chief economist at Wilmington Trust. “There’s a lot of consumer weakness.”

    Indeed, that’s largely what happened during the damaging Smoot-Hawley tariffs in 1930, which many economists believe helped trigger the Great Depression.

    Tilley said he sees signs that consumers already are cutting back on vacations and recreation, a possible indication that companies may not have as much pricing power as they did when inflation started to surge in 2021.

    Fed officials, though, remain on the sidelines as they wait over the summer to see how tariffs do impact prices. Markets largely expect the Fed to wait until September to resume lowering interest rates, even though inflation is waning and the employment picture is showing signs of cracks.

    “This time around, if inflation proves to be transitory, then the Federal Reserve may cut its policy rate later this year,” Brusuelas said. “But if consumers push their own inflation expectations higher because of short-term dislocations in the price of food at home or other goods, then it’s going to be some time before the Fed cuts rates.”

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