Gold price prediction today: Will gold, silver prices continue to be under pressure? Check June 10, 2026 outlook

The primary event for gold this week is the US CPI inflation report. (AI image)

Gold price prediction today: The outlook for gold and silver prices remains cautious due to ongoing geopolitical pressures, says Vedika Narvekar, Research Analyst – Commodities & Currencies, Anand Rathi Shares and Stock Brokers.Gold came under heavy pressure last week after the US jobs report surprised on the upside, with payrolls rising by 172,000 against expectations of 85,000. The stronger labour market reinforced the view that the Federal Reserve is likely to keep interest rates higher for longer, with markets now fully pricing in a rate hike by December. This pushed Treasury yields and the US dollar sharply higher, reducing the appeal of non-yielding assets like gold. The decline was intensified by profit-booking, liquidation of bullish positions by hedge funds and broad-based weakness across precious metals and other risk assets. As a result, gold has now erased all of its gains for 2026, is down nearly 3% year-to-date, around 22% below pre-war levels, and more than 25% below the record highs seen in January.The weakness has extended into this week as geopolitical tensions in the Middle East have escalated and oil prices have moved higher following Iranian strikes on Israel. Under normal circumstances, these developments would support safe-haven demand for gold, but the market’s focus has shifted squarely to inflation and interest rates. Meanwhile, underlying support from central bank buying remains intact, with China extending its gold-buying streak to 18 consecutive months and adding 8 tonnes in April, but for now these supportive factors are taking a back seat to rising yields and tightening monetary policy expectations.Focus for the WeekThe primary event for gold this week is the US CPI inflation report. A hotter-than-expected inflation reading would reinforce concerns that the Fed may need to tighten policy sooner and more aggressively, likely pushing Treasury yields and the dollar higher while exerting further pressure on gold prices. Conversely, a softer inflation print could provide temporary relief by easing rate-hike expectations and triggering short covering. Markets will also closely monitor movements in crude oil, as sustained oil prices above $90/bbl could keep inflation concerns elevated and limit any recovery in gold despite ongoing geopolitical risks.Technical Levels & Near-Term OutlookGold (Spot) CMP: $4175/oz

MCX Gold CMP: ₹1,49600

The near-term outlook remains cautious. Gold is currently facing a combination of rising real yields, a stronger US dollar, elevated Fed tightening expectations and continued liquidation from speculative investors. Importantly, both gold and silver have now closed below their 200-day moving averages, a key long-term technical indicator that signals weakening momentum and warrants caution.While central bank buying, geopolitical uncertainty and potential safe-haven demand remain supportive longer-term factors, the market is currently being driven by the rates channel rather than the geopolitical channel. Unless inflation moderates meaningfully or economic data starts to weaken, rallies are likely to face resistance. Sustained trading below the 200-DMA could expose gold to further downside pressure.International Silver CMP: $64/oz

MCX Silver CMP: ₹2,34,900

(Disclaimer: Recommendations and views on the stock market, other asset classes or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times of India.)