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This rise in gold prices came after U.S. President Donald Trump said he had postponed a planned military strike on Iran following requests from key Middle Eastern leaders, easing fears of an immediate escalation that could further disrupt global crude supplies and stoke inflation concerns.
In the domestic market, MCX silver futures for July 2026 delivery dipped Rs 1,151 or 1% to Rs 2,75,500 per kg. Gold futures for June 2026 delivery were up Rs 500 at Rs 1,59,899 per 10 grams. In the previous session, silver and gold ended flat.
Elevated crude oil prices can stoke inflation, and while gold is considered a hedge against inflation, higher interest rates tend to weigh on the non-yielding metal.
In the international market, spot gold was largely unchanged at $4,565.40 per ounce as of after touching its lowest level since March 30 in the previous session. U.S. gold futures for June delivery edged 0.2% higher to $4,567.90. Among other precious metals, spot silver declined 0.3% to $77.58 per ounce, platinum slipped 0.2% to $1,976.15, while palladium fell 0.6% to $1,409.75.
How should you trade gold?
Manoj Kumar Jain of Prithvi Finmart said both precious metals are witnessing sharp price volatility, while concerns around inflation and fears of a US Federal Reserve rate hike could cap gains in gold and silver.
He said silver prices could hold support at $64.00 per troy ounce, while gold may sustain support at $4,343.00 per troy ounce on a weekly closing basis. According to Jain, gold and silver are likely to remain volatile this week due to fluctuations in the dollar index, swings in crude oil prices and uncertainty surrounding a possible US-Iran peace deal.
He added that gold has support in the $4,515-$4,470 range and resistance between $4,600 and $4,640 per troy ounce. Silver, meanwhile, has support at $75.50-$72.00 and resistance at $80.00-$82.80 per troy ounce in today’s session.
On MCX, Jain said gold has support at Rs 1,58,200-Rs 1,57,400 and resistance at Rs 1,60,300-Rs 1,61,100. Silver has support at Rs 2,71,400-Rs 2,66,600 and resistance at Rs 2,80,500-Rs 2,86,000.
He suggested buying silver on dips in the Rs 2,71,000-Rs 2,67,000 range, with a stop loss below Rs 2,63,000 and targets of Rs 2,81,000-Rs 2,85,000.
Gold rates in physical markets
Gold Price today in Delhi
Standard gold (22 carat) prices in Delhi stand at Rs 1,14,672/8 grams while pure gold (24 carat) prices stand at Rs 1,25,088/8 grams.
Gold Price today in Mumbai
Standard gold (22 carat) prices in Mumbai stand at Rs 1,14,552/8 grams while pure gold (24 carat) prices stand at Rs 1,24,896/8 grams.
Gold Price today in Chennai
Standard gold (22 carat) prices in Chennai stand at Rs 1,17,992/8 grams while pure gold (24carat) prices stand at Rs 1,28,720/8 grams.
Gold Price today in Hyderabad
Standard gold (22 carat) prices in Hyderabad stand at Rs 1,14,552/8 grams while pure gold (24 carat) prices stand at Rs 1,24,896/8 grams.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
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