On the Multi Commodity Exchange (MCX), gold April futures rose 1.04 per cent to Rs 1,62,790 per 10 grams at around 11:30 am. Meanwhile, silver May futures climbed 1.84 per cent to Rs 2,70,200 per kilogram during intraday trading
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Gold and silver prices surged more than 1 per cent on Wednesday as escalating tensions between the US-Israel alliance and Iran drove investors towards safe-haven assets.
On the Multi Commodity Exchange (MCX), gold April futures rose 1.04 per cent to Rs 1,62,790 per 10 grams at around 11:30 am. Meanwhile, silver May futures climbed 1.84 per cent to Rs 2,70,200 per kilogram during intraday trading.
Analysts said growing uncertainty in the Middle East and fears of disruptions to global energy supply are pushing investors to shift funds from riskier assets into precious metals.
Global Prices Climb as Investors Seek Safety
In international markets, spot gold rose around 1 per cent to USD 5,138.46 per ounce, while US gold futures for April delivery gained 0.5 per cent to USD 5,147.10.
Gold has already surged about 19 per cent so far this year after recording a sharp 64 per cent rise in 2025, driven largely by geopolitical instability and strong demand from central banks.
However, gains in bullion were partially capped by a stronger US dollar, with the dollar index rising 0.15 per cent to 99.20. A stronger dollar typically makes gold more expensive for investors holding other currencies.
Oil Prices Also Rise on Supply Concerns
The ongoing conflict has also pushed global crude oil prices higher amid concerns over potential disruptions to shipping routes and energy infrastructure in the Gulf region.
WTI crude oil prices climbed above USD 75 per barrel, extending a two-day gain of roughly 11 per cent. Brent crude traded close to $81 per barrel as markets closely monitor risks around the Strait of Hormuz, a critical global oil supply route.
Investors Watch US Economic Indicators
Market participants are also closely tracking upcoming US economic data, including Manufacturing and Non-Manufacturing PMI figures, ADP Non-Farm Employment Change, and unemployment numbers.
These indicators are expected to influence expectations around the US Federal Reserve’s interest rate policy.
Analysts noted that gold currently has support levels near Rs 1,58,000 and Rs 1,62,000, while resistance is seen around Rs 1,75,000 and Rs 1,80,000. For silver, support levels are around Rs 2,50,000 and Rs 2,70,000 per kilogram, with resistance projected between Rs 3,00,000 and Rs 3,20,000.
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