Gold rate today: After hitting an intraday low of ₹1,29,595 per 10 gm on Monday, the MCX gold rate today staged a smart rebound. After rising on Tuesday, it extended its recovery to Wednesday, and touched an intraday peak of ₹1,44,570 per 10 gm, logging around ₹15,000 gain in gold prices in India over two days.
According to market experts, the gold rate today in India extended its gains from Monday’s low as hopes of a resolution to the US-Iran war eased inflation concerns, paving the way for possible US Fed rate cuts going ahead.
Signs of de-escalation in the US-Iran war have led to a sharp sell-off in the WTI crude oil prices. The crude oil price, which touched $100 per barrel on Monday, has come under pressure and declined to a low of $86.60 per barrel today. This has eased the inflation concerns, which fueled value buying on hopes of US Fed rate cuts. A low-interest-rate environment supports non-yielding assets like gold.
What is fueling the gold price today?
Highlighting the reasons for the bull trend in bullion, Hareesh V, Head of Commodity Research at Geojit Investments Limited, said that gold’s nearly 4% surge on MCX and silver’s sharp rebound were driven by a softer US dollar and easing inflation concerns, as crude oil prices corrected.
“The pullback in energy markets helped temper expectations of higher global interest rates, offering additional support to precious metals. Meanwhile, reports suggesting the US is exploring ways to end the conflict with Iran boosted safe‑haven demand, amplifying bullion’s upside momentum today,” Hareesh V said.
Gold rate today: Key levels you should know
Speaking on the outlook of the COMEX gold rate today, Ponmudi R, CEO of Enrich Money, said the COMEX gold rate is trading above key short-term moving averages, with prices currently hovering within the $4,500–$4,600 band.
The overall trend in gold is showing signs of recovery, supported by persistent geopolitical tensions in the Middle East, which continue to drive safe-haven demand and provide a strong underlying cushion to prices.
The pullback in energy markets helped temper expectations of higher global interest rates, offering additional support to precious metals. Meanwhile, reports suggesting the US is exploring ways to end the conflict with Iran boosted safe‑haven demand, amplifying bullion’s upside momentum today.
— Hareesh V, Head of Commodity Research at Geojit Investments
“On the upside, the $4,670–$4,750 range remains an important resistance band. A sustained move above $4,750 could extend the prices toward $4,850, where stronger supply pressure may emerge. On the downside, a break below $4,500 may accelerate weakness toward the $4,360–$4,400 level. Overall, the structure remains cautiously positive as long as prices continue to trade above key support levels,” the Enrich Money CEO said.
Outlook for the gold rate today in India
For domestic prices, Ponmudi R said MCX gold is trading in the ₹1,43,000– ₹1,45,000 range, indicating resilience despite intraday volatility. He finds resilience at higher levels, keeping the broader tone constructive.
On the upside, the ₹1,48,000 zone remains the immediate resistance area. “A sustained move above this level would strengthen bullish momentum and may open the path toward ₹1,55,000 to ₹1,57,000, where supply pressure is likely to emerge.”
On the downside, immediate support is seen at ₹1,37,000– ₹1,40,000. A breach of this zone may trigger profit booking, potentially dragging prices toward ₹1,30,000– ₹1,32,000, according to the expert.
Enrich Money CEO said the near-term bias remains a buy-on-dips, supported by underlying strength in prices, with macro uncertainty and geopolitical developments expected to continue driving momentum.
According to experts, gold and silver are unlikely to break recent highs even though the recent dip is offering an attractive entry point.
“Gold and silver may see a mild near‑term recovery, but breaking recent highs looks difficult. While supportive geopolitics could underpin sentiment, a firm US dollar is likely to cap strong upside, keeping price movements relatively restrained for now,” said Hareesh V.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
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