Gold, Silver Rate Today Live Updates: MCX gold, silver prices rally as US-Iran war lifts safe-haven demand

The US key averages saw renewed selling in today's session, with Dow Jones Industrial Average falling 800 points or 1.6% at the day's low of 14,000, while S&P 500 and the Nasdaq Composite dipped 0.6%.

Investors await key economic data, with Initial jobless claims are due later today, while the more critical unemployment rate and nonfarm payrolls numbers are scheduled for tomorrow, which will provide cues about the US Federal Reserve’s rate-cut outlook.

Gift Nifty is trading 233 points lower in late trading on Thursday, March 05, indicating that markets could resume their losing streak when trading opens on Friday.

After a three-day brutal sell-off, Indian benchmark indices closed over 1% higher in today's session, with the recovery rally led by metal and auto stocks, but those gains appear to be short-lived, given the weak indication from Gift Nifty.

Crude oil prices, which softened in the previous session, have marched higher again, with Brent crude gaining 3% to $85 per barrel, approaching its highest level since July 2024, as fears mounted that oil supplies from the Middle East could remain disrupted for longer than expected after Iran reportedly said it hit an oil tanker with a missile.

Gold erased early gains to trade slightly lower at around $5,092 (Comex) per ounce on Thursday, as a stronger US dollar and reduced expectations for interest rate cuts by the Federal Reserve offset safe-haven demand linked to the escalating Middle East conflict.

Shares of heavyweight chipmaker Broadcom jumped 4% in Thursday's trade on March 5, reaching the day's high of $330.70 per share, even as key Wall Street averages were trading with losses.

The rally in the stock was triggered after the company reported strong results for its fiscal first quarter, posting revenue that grew 29% year over year.

Gold and silver prices have come off sharply from their intraday highs during Thursday's trade, March 05, as the strengthening US dollar is limiting the upside while investors await key US economic data releases amid the US–Iran war.

Gold, which usually remains hot during periods of geopolitical tensions, gained $70 per troy ounce on Comex to $5,204 per ounce on March 05 but failed to hold on to those gains as it slipped to $5,140 at the time of writing this report.

The May silver futures contract, too, pulled back to $83 after reaching an intraday high of $85.75, which was 2.60% higher than the previous close.

The US dollar index resumed its gains after a breather in the previous session. The dollar index, which measures the greenback against a basket of currencies, rose 0.4% to 99.2.

Following a smart recovery in the previous session, the US stock market is likely to open Thursday’s session, March 5, on a flat note as futures of the three key averages — the S&P 500, Dow Jones Industrial Average, and Nasdaq — are trading mixed, at 0.01%, (-0.33%), and 0.01%, respectively, in pre-market trade, as investors await key US economic data releases amid the US-Iran war.

The dollar resumed its gains after a breather in the previous session. The dollar index, which measures the greenback against a basket of currencies, rose 0.4% to 99.2.

Currently, with the US spot gold prices at $5,166.11 an ounce and silver prices at $84.35 an ounce, the gold-silver ratio is approaching the 62 mark.

The gold-silver ratio indicates how many ounces of silver are needed to buy one ounce of gold. It is a widely used metric in the precious metals market to assess the relative value and performance of gold compared with silver. Historically, the 10-year ratio averages close to 80:1. When it drops below 50:1, silver is no longer cheap, suggests an analysis by WhiteOak Capital.

Ponmudi R, CEO of Enrich Money, said, "MCX Silver futures are currently trading in the ₹260,000– ₹2,80,000 range, reflecting consolidation following earlier volatility triggered by global safe-haven flows. The long-term bullish structure remains intact as prices continue to hold above key support levels amid elevated geopolitical tensions."

"Short-term momentum is gradually strengthening, with immediate support placed in the ₹250,000– ₹260,000 zone. A sustained hold above this support region could drive a recovery toward ₹2,80,000– ₹3,00,000 levels. Dips toward strong support zones may offer accumulation opportunities for positional traders, although a decisive break down below these levels could intensify downside pressure," he further added.

Silver prices have recovered ₹9,108 per kilogram from the day's low of ₹2,57,992. The conflict in the Middle East entered its sixth day, with Iran continuing its attacks on US military bases and key energy infrastructure in the Gulf region. The Israeli military said it launched targeted strikes in Lebanon against the Iranian-backed Hezbollah militant group in Beirut's southern suburbs.

Fears of disruption to regional oil and gas supplies subsided slightly after President Donald Trump said on Tuesday that the US is preparing to provide risk insurance and escorts to ships in the Persian Gulf in an effort to ensure traffic can move through the Strait of Hormuz.

Tanker traffic through the Strait — the world’s most vital transit route for crude oil — had come to a halt after an Iranian Revolutionary Guard commander threatened to set fire to ships attempting the route.

Jateen Trivedi, VP Research Analyst Commodity and Currency, LKP Securities, said, “Gold prices traded in a sideways and volatile range between ₹1,60,000 and ₹1,63,000 as CME gold hovered near the $5,150 level, reflecting cautious positioning by participants.”

“Market focus now shifts to key U.S. data releases, with Initial Jobless Claims due later today and the more critical Unemployment Rate and Nonfarm Payrolls numbers scheduled for tomorrow. These data points will play an important role in shaping expectations around the Federal Reserve’s interest rate outlook and could drive the next directional move in gold prices,” he further added.

As of 3:30 PM, the gold futures contract on MCX has largely remained unchanged from the previous close, trading at ₹1,61,600 per 10 grams, a modest 0.05% gain from the previous close of ₹1,61,525.

The contract opened the session higher at ₹1,62,750 but soon fell to the day's low of ₹1,60,530 before recovering.

The safe-haven asset finished Wednesday's session with a mild gain of 0.26%, even as tensions in West Asia remain heated.

Ponmudi R, CEO of Enrich Money, said, "MCX Gold futures are currently trading within the ₹1,60,000– ₹1,70,000 range. Prices are witnessing short-term consolidation with a mildly positive bias, supported by persistent risk-off flows in global markets. Strong buying interest continues to emerge within the ₹1,58,000– ₹1,62,000 demand zone following the recent surge driven by geopolitical tensions in the Middle East. A sustained hold above this base, followed by a breakout above ₹1,70,000, may revive upward momentum toward the ₹1,75,000– ₹1,80,000 zone, thereby maintaining a constructive medium-term outlook.

Gold prices traded higher, lifted by safe-haven demand amid an escalating war in the Middle East, while a stronger dollar and concerns around the US Federal Reserve’s monetary policy capped gains.

MCX gold rate for April futures contracts was trading higher by ₹295, or 0.18%, at ₹1,61,820 per 10 grams level. MCX silver price for May futures contracts was trading higher by ₹3,265, or 1.23%, at ₹2,68,825 per kg.

In the international market, spot gold price rose 0.6% to $5,168.43 per ounce, while US gold futures for April delivery were up 0.9% at $5,179.20. Spot silver price gained 0.5% to $83.80 per ounce.

The sharp intraday pullback reflects traders locking in gains after gold rallied nearly 20% year-to-date and silver touched fresh 2026 highs. Meanwhile, a stronger US dollar, expectations around potential global tariffs, and developments around the nomination of Kevin Warsh as the next Federal Reserve Chair are also influencing sentiment in bullion markets.

Technically, gold is witnessing strong buying interest in the $5,100–$5,200 range, while silver faces immediate resistance near ₹2,77,800, with broader bullish momentum likely to persist if geopolitical uncertainties remain elevated, said Gaurav Garg, Research Analyst at Lemonn Markets Desk.

Comex Silver is trading around the $80–$90 zone after witnessing a strong recovery from recent lows. The broader bullish structure on higher timeframes remains intact. Prices have reclaimed major moving averages, indicating a transition from a corrective phase toward renewed strength. Strong buying interest is observed in the $76–$80 support zone. A sustained recovery above the $90–$95 resistance band could reignite bullish momentum toward $100–$110 and potentially retest previous highs. Despite ongoing volatility, the medium- to long-term outlook remains constructive, supported by safe-haven demand and geopolitical developments, said Ponmudi R, CEO of Enrich Money.

Comex gold price is currently trading within the $5,000–$5,300 zone, maintaining a pattern of higher highs and higher lows. The broader bullish structure remains intact, supported by sustained upward momentum and continued breakout follow-through from earlier consolidation zones. Prices are holding firmly above key moving averages near the previous all-time high region, indicating strengthening trend momentum. Strong buying interest is visible in the $5,100–$5,200 support band.

As long as gold price continues to sustain above the $4,900–$5,000 support zone, the overall bullish trend remains dominant. A sustained breakout above the $5,400–$5,600 range could open the path toward fresh record highs, said Ponmudi R, CEO of Enrich Money.

Silver price also remains firmly supported and is continuing its upward momentum, with the next upside target seen around $90 (~ ₹2,82,000). On the downside, strong support is placed near $80 (~ ₹2,55,000), suggesting that any short-term corrections could attract fresh buying interest, said Dr. Renisha Chainani.

Gold, Silver Rate Today Live Updates: Gold price continues to maintain a bullish bias, with prices expected to move towards $5,250 (~ ₹1,65,000) and $5,300 (~ ₹1,67,000) in the near term. Strong support is seen around the $5,000 (~ ₹1,58,000) level, which is likely to act as a key buying zone on any corrective dips, said Dr. Renisha Chainani, Head - Research at Augmont.

Gold prices in the domestic spot market have risen by ₹3,400 to ₹1,62,029 on a month-to-date basis as of close on March 4. However, silver prices have slumped a whopping ₹7,000 to ₹2,60,900 since the beginning of the US-Iran war over the weekend, indicating investor preference for gold over silver during times of conflict.

Silver prices slipped below $82 per ounce while MCX silver price dropped under the ₹2,58,000 level, reversing gains from the previous session as the US dollar strengthened amid ongoing geopolitical uncertainty. The conflict involving the US, Israel and Iran has entered its sixth day, raising concerns about further escalation after a US submarine reportedly sank an Iranian warship near Sri Lanka. Markets also reacted to reports that Iranian operatives explored possible peace talks with the US, though Tehran later denied the outreach. Meanwhile, the US administration moved to reassure markets about continued commercial activity in the Gulf, while Treasury Secretary Scott Bessent confirmed that a 15% global tariff announced by President Donald Trump is expected to take effect later this week.

US President Donald Trump officially nominated former Federal Reserve Governor Kevin Warsh to be the US central bank’s next chair, putting the president one step closer to installing an interest-rate-cut-friendly Fed chief. Markets expect the Fed to keep rates steady on March 18, according to CME Group’s FedWatch tool.

The dollar strengthened after briefly retreating from three-month highs. Against a basket of currencies, the dollar was up 0.2% at 99.00, resuming its climb toward an over three-month high hit earlier this week. The dollar has risen nearly 1.4% for the week thus far. Euro was down 0.2% at $1.1608 and sterling fell 0.27% to $1.3335.

MCX silver rate today crashed by nearly ₹14,000 from its high level and traded in the red. MCX silver price made an intraday high of ₹2,74,251 per kg level. However, with selling pressure at higher levels, silver price declined by ₹13,851 to hit an intraday low of ₹2,60,400 level.

MCX gold and silver prices gave up early gains to trade lower amid profit booking at higher levels. MCX gold rate today traded lower by ₹197, or 0.12%, at ₹1,61,328 per 10 grams level. MCX silver price declined by ₹2,230, or 0.84%, at ₹2,63,330 per kg level.

Bitcoin prices move back above the $71,000 mark, signaling renewed momentum in the crypto market, supported by improving sentiment and stronger institutional participation. Global policy developments and geopolitical dynamics are increasingly influencing capital allocation, and in this environment Bitcoin continues to draw attention as investors diversify into digital assets. Sustained inflows into spot Bitcoin ETFs have also contributed to liquidity and reinforced confidence around the current rally.

At the same time, the broader market is showing signs of strength beyond Bitcoin. Ethereum’s recent gains reflect continued optimism around blockchain utility and network upgrades, while XRP’s surge highlights growing interest in digital assets linked to cross-border payments and financial infrastructure. Together, these movements indicate a phase where market participation is expanding across major crypto assets as adoption narratives continue to evolve, said Avinash Shekhar, Co-Founder & CEO, Pi42.

MCX silver prices are currently trading in the ₹2,60,000 – ₹2,80,000 range, reflecting consolidation following earlier volatility triggered by global safe-haven flows. The long-term bullish structure remains intact as prices continue to hold above key support levels amid elevated geopolitical tensions. Short-term momentum is gradually strengthening, with immediate support placed in the ₹2,50,000 – ₹2,60,000 zone. A sustained hold above this support region could drive a recovery toward ₹2,80,000 – ₹3,00,000 levels. Dips toward strong support zones may offer accumulation opportunities for positional traders, although a decisive breakdown below these levels could intensify downside pressure, said Ponmudi R, CEO of Enrich Money.

MCX gold prices are currently trading within the ₹1,60,000 – ₹1,70,000 range. Gold prices are witnessing short-term consolidation with a mildly positive bias, supported by persistent risk-off flows in global markets. Strong buying interest continues to emerge within the ₹1,58,000 – ₹1,62,000 demand zone following the recent surge driven by geopolitical tensions in the Middle East. A sustained hold above this base, followed by a breakout above ₹1,70,000, may revive upward momentum toward the ₹1,75,000 – ₹1,80,000 zone, thereby maintaining a constructive medium-term outlook, said Ponmudi R, CEO of Enrich Money.

According to Ajay Kedia, the overall trend for MCX silver rate today is positive. Technically, if silver prices crosses 50MA, we can expect to see a level of ₹2,76,630 - ₹2,77,800. MACD also signals bullish crossover which suggests a bullish trend for today. The key US Unemployment Claims data later today is expected to be positive for bullion prices.

MCX silver price may face resistance at ₹2,77,800 level, while support is placed at ₹2,67,240 level. Kedia said. He recommends a ‘Buy on Drop’ strategy for MCX silver price today.

The overall trend for MCX gold rate today is positive. Technically, current gold price is trading near 50-Day Moving Average (DMA) and MACD is also signalling a likely bullish crossover as the bearish crossover is losing momentum, said Ajay Kedia, Director of Kedia Advisory.

According to Kedia, MCX gold rate may face resistance at ₹1,65,500 level, while support is seen at ₹1,61,750 level. He recommends buying gold on drops.

The dollar halted its blistering rally on Thursday. The dollar further eased from an over three-month high hit earlier this week and stood at 98.82 against a basket of currencies. The euro was steady at $1.1628, while sterling was little changed at $1.3368.

MCX gold price rallied as much as 1% to a high of ₹1,63,142 per 10 grams in early trade on Thursday. MCX silver rate jumped to a high of ₹2,74,251 level, rising as much as 3.2%.

MCX gold rate today for April futures contracts opened higher by ₹1,225, or 0.75%, at ₹1,62,750 per 10 grams as against its previous close of ₹1,61,525 level. MCX silver price for May futures contracts opened higher by ₹4,340, or 1.63%, at ₹2,69,900 per kilogram as against its previous close of ₹2,65,560 level.

The global silver market is projected to remain in deficit for a sixth consecutive year in 2026, with the shortfall estimated at about 67 million ounces as total demand continues to exceed supply. Industrial fabrication demand is expected to decline to around 650 million ounces, partly due to reduced photovoltaic silver usage despite rising solar installations. Total supply is forecast to grow by 1.5%, supported by a 1% increase in mine production to about 820 million ounces and a 7% rise in recycling as higher prices encourage scrap supply. Investment demand remains strong, with global ETP holdings near 1.31 billion ounces, while silver prices have already risen about 11% in 2026 amid geopolitical tensions and continued market tightness.

Silver price benefited from the dollar’s retreat following reports that Iranian operatives had reached out to the US to explore potential peace talks, though Tehran later denied the outreach. MCX silver price for May futures may appreciate to ₹2,69,000 per kilogram as prices have rebounded in the global markets too, said Jigar Trivedi, Senior Research Analyst at IndusInd Securities.

Silver prices rose toward $85 per ounce, posting a second consecutive session of gains as geopolitical tensions and a weaker dollar boosted safe-haven demand. The US-Israeli campaign against Iran has entered its sixth day, raising concerns about further escalation and a prolonged conflict. Silver also gained after the dollar retreated on reports of potential peace talks between Iranian operatives and the US, though Tehran later denied the outreach. Meanwhile, Treasury Secretary Scott Bessent said the Trump administration’s 15% global tariff is expected to take effect later this week.

Rising geopolitical tensions supported gold and silver prices. The safe-haven demand in the precious metals was fueled by widening US–Iran war after a US submarine sank an Iranian warship off Sri Lanka, killing at least 80 people, and NATO air defences destroyed an Iranian ballistic missile fired towards Turkey.

Spot gold price rose 0.8% to $5,176.69 per ounce, while US gold futures for April delivery were up 1% at $5,186.30. Spot silver rose 1.2% to $84.43 per ounce.

Gold and silver prices traded higher on Thursday as the widening Middle East conflict drove investors towards the safe-haven asset. A softer dollar also supported gains in the bullion prices.