Gold rate today in India crashes over ₹1,800/10 gm as inflation fears dent US Fed rate-cut buzz. US-Iran war in focus

Gold rate today: On renewed fears of inflation amid rising crude oil prices, with no signs of de-escalation in the US-Iran war, bets are high for a delay in the US Fed rate cut in the near term. This put precious metals, equities, and bonds under pressure.

The MCX gold rate today opened with a downside gap at ₹1,60,651 per 10 gm and touched an intraday low of ₹1,59,826, logging an intraday loss of over ₹1,800 per 10 gm against Friday's close of ₹1,61,634. In the international market, the COMEX gold price today opened with a downside gap and touched an intraday low of $5,021.59/oz, down around 2%.

Why is the gold price falling despite geopolitical tension?

Speaking on the reasons preventing gold prices from rising, Sugandha Sachdeva, Founder of SS WealthStreet, said that despite heightened geopolitical risk, gold prices are under pressure today. In fact, the precious yellow metal has not witnessed a runaway rally in recent weeks either. After registering an extraordinary 70% gain in 2025, gold has already advanced by over 20% in 2026, but since hitting an all-time high of around $5,600 per ounce in late January, prices have largely entered a consolidation phase.

“The primary reason for this pause has been the strengthening US dollar, buoyed by rising crude oil prices and concerns that higher energy costs could reignite global inflation. Higher inflation risks have pushed back expectations of near-term rate cuts by the US Federal Reserve, with markets now anticipating the next potential rate cut only around September or October, compared to earlier expectations of July,” said Sugandha Sachdeva.

The SS WealthStreet expert said that both gold and the US dollar compete for safe-haven demand; the recent surge in the dollar has capped gains in precious metals. Additionally, during periods of sharp sell-offs in risky assets, investors often liquidate gold and silver positions to meet margin calls, which has also contributed to the recent pullback.

Gold rate today in India: Key levels to watch

Anuj Gupta, a SEBI-registered market expert, said that the MCX gold rate today has crucial support placed at ₹1,58,000 per 10 gm. On breaching below this support, the precious yellow metal will have its next crucial support at ₹1,50,000. On the upside, ₹1,65,000 is a crucial resistance level. Breaking above this resistance would mean a fresh bull trend in the bullion."

“For renewed bullish momentum, however, prices need to sustain above $5,280 per ounce globally and ₹1,65,000 per 10 gm in the domestic market, which could open the door for the next leg of the rally,” Sugandha Sachdeva of SS WealthStreet added.

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.