Gold prices rose nearly 2% on June 2, 2025, as investors turned to safe-haven assets amid geopolitical tensions and trade war concerns. Learn about the latest gold price trends and key market levels.
Why Gold Prices Are Rising in June 2025
Gold prices jumped almost 2% on Monday, June 2, 2025, as people rushed to buy safe assets like gold. This happened because of growing worries about global conflicts and trade issues.
Gold Price Surge in India and Globally
In India, gold prices on the Multi Commodity Exchange (MCX) increased by 1.7%, or ₹1,630 per 10 grams, reaching a high of ₹97,505 per 10 grams. This was up from ₹95,875 at the last market close. In the U.S., Comex gold prices rose by 1.74%, hitting $3,373 on Monday morning.
Investors often move their money to safe assets like gold when they’re worried about risky markets, such as stocks, due to global uncertainties.
What’s Driving the Gold Price Increase?
Two major events caused this gold price spike:
- Trade War Concerns: U.S. President Donald Trump announced plans to raise tariffs on steel imports from 25% to 50% starting next week. This could lead to trade tensions, making investors nervous.
- Geopolitical Tensions: On June 1, 2025, Ukraine launched a drone attack on Russia, reportedly damaging over 40 military aircraft. This conflict has made investors seek safer investments like gold.
Expert Insights on Gold’s Rise
The Ukraine-Russia conflict, especially the recent drone attack, pushed gold prices higher. “The attack caused a big jump in gold prices when the market opened on Monday,”.
Neal Bhai, another market expert, noted that gold prices reacted strongly to the renewed conflict. “Gold jumped by $50 to $3,350 on Comex and by ₹1,300 to ₹97,250 on MCX because investors wanted safer options,” Neal Bhai said.
What to Watch for Gold Prices This Week
Experts say this week’s U.S. economic data, like manufacturing PMI, non-farm payrolls, and unemployment rates, will influence gold prices. If tensions or economic uncertainty continue, gold could keep rising.
Key Gold Price Levels to Know
Here are the important price levels for gold, according to experts:
- Support: ₹94,000 on MCX and $3,250 on Comex (where prices might stop falling).
- Resistance: ₹98,500 to ₹99,000 on MCX and $3,400 on Comex (where prices might face challenges rising further).
Why Gold Is a Safe Choice Now
With global tensions and trade issues on the rise, gold remains a popular choice for investors looking for safety. As more economic data comes out this week, gold prices could test higher levels, making it a key asset to watch.
✅ Disclaimer: Goldsilverreports.com provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
