Gold rate today in India above ₹1.60 lakh amid no signs of de-escalation in US-Iran war; oil price, USD rate in focus
Gold rate today opened marginally lower at ₹1,60,251 per 10 gm and touched an intraday low of ₹1,59,764
Gold rate today: Amid no signs of de-escalation in the US-Iran war, the MCX gold rate today opened flat but sustained above ₹1,60,000 per 10 gm. Gold price today opened marginally lower at ₹1,60,251 per 10 gm and touched an intraday low of ₹1,59,764, logging an intraday loss of ₹507 per 10 gm. However, the precious metal witnessed value buying and soon entered the green territory. In the international market, the COMEX gold rate is oscillating around $5,120/oz.
Gold rate today: Major triggers you must know
Speaking on the major triggers dictating gold prices today, Anuj Gupta, a SEBI-registered market expert, said that the gold rate today is mainly driven by three factors: US-Iran war news, the US dollar rate, and oil price movements.
Outlook for gold price today
On a suggestion to gold investors, Ponmudi R, CEO of Enrich Money, said that after recently touching record highs, the metal has entered a short-term corrective phase, though the broader bullish framework remains intact. Prices continue to hold above key moving averages, reflecting underlying strength supported by safe-haven demand amid geopolitical uncertainty.
“Strong buying interest is visible in the $5,000–$5,100 support zone, while a break below this band could push prices toward the $4,900 level. As long as gold holds above the $5,150 zone, the broader bullish trend remains intact, and a sustained breakout above $5,200–$5,250 could pave the way for fresh record highs,” Ponmudi R of Enrich Money said.
On the outlook of gold rate today in India, the Enrich Money expert said that strong buying interest remains visible in the ₹1,56,000 to ₹1,57,000 demand zone. As long as prices hold above this base, the medium-term bullish outlook remains intact. A sustained breakout above ₹1,65,000 could revive bullish momentum toward ₹1,75,000 to ₹1,80,000.
Oil price movement in focus
Pointing to crude oil prices, Ponmudi R of Enrich Money said that oil prices have surged sharply, with Brent crude once again approaching $100 per barrel as markets begin pricing in the possibility of supply disruptions. For India, which imports more than 85% of its crude oil requirements, sustained strength in oil prices poses a significant macroeconomic challenge.
Higher oil prices typically widen the current account deficit, increase inflationary pressure, weaken the Indian rupee, and raise operating costs for sectors heavily dependent on energy, such as aviation, logistics, chemicals, and manufacturing.
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.
About the Author
Asit Manohar has nearly two decades of experience in the mainstream media. In this period, he has served esteemed media organisations like NDTV Profit, The Economic Times, and Zee Business. He has been working at LiveMint Digital since April 2021. During these two decades of journey in mainstream media, Asit has mainly covered external affairs, markets and personal finance. However, his earliest beats include railways, SME, MSME, and politics (Congress beat). Some of his features on political, economic, and foreign policy are documented in the parliamentary records. <br><br> While pursuing his MA (Mass Communication, Session 2004-06), Asit began his media career as a stringer at All India Radio in Varanasi. At AIR Varanasi, Asit worked with the Gyanvani, Yuvvani and Vividh Bharti teams. After working for nearly one year at AIR Varanasi, he shifted to print journalism and started working as a stringer for the HT Media Ltd, Varanasi. At HT Media Ltd in Varanasi, he covered the BHU beat. <br><br> Asit has also worked with some brokerage houses. He has worked with Religare Broking and India Infoline, where he assisted the research team in developing and executing trade strategies for intraday cash, F&O, and commodities. <br><br> Asit is a Gold Medalist in MA (Mass Communication) from BHU, Varanasi. He did his BSc. (Hons) in Mathematics from Magadh University, Bodh Gaya. Asit was a National Talent Scholarship holder during his senior secondary studies (1988-91).
Catch all the Business News , Market News , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.