Gold, Silver Rates Today LIVE: MCX gold rate rises above ₹1.62 lakh, silver price jumps by ₹8,000 from day’s low

Both gold and silver were little changed in Thursday's session, March 12, as a strong US dollar and fading expectations of near-term interest rate cuts by the US Federal Reserve made precious metals less attractive to investors, even as tensions in the Middle East remained on high alert.

The April futures contract on COMEX gold dropped $64.4 to the day's low of $5,114.6 per troy ounce, erasing nearly half of the previous session’s gains. The May contract on COMEX Silver also fell, dropping $1.47 per troy ounce to reach the day's low of $84.06 earlier in the session.

MCX Gold futures are currently trading in the ₹1,61,500– ₹1,62,000 range, reflecting a phase of consolidation following the recent rally driven by geopolitical tensions.

Ponmudi R, CEO of Enrich Money, said, “A strong buying interest remains visible in the ₹1,56,000– ₹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– ₹1,80,000.”

Jateen Trivedi, VP Research Analyst—Commodity and Currency, LKP Securities, said, "Gold traded slightly positive with gains of 0.20%, quoting near ₹1,62,100 on MCX, while CME gold held around $5,185 with similar gains. Markets appear to be stabilizing ahead of key US economic data, including weekly Initial Jobless Claims today and tomorrow’s Core PCE Price Index along with GDP numbers, which could influence expectations around the Federal Reserve’s rate outlook."

"Technically, support is seen near ₹1,60,500, while resistance remains around ₹1,63,500, with volatility likely to pick up as macro data releases approach," he further added.

Gold and Silver Prices in New Delhi — 12 March

> 24 karat gold rate in New Delhi — ₹1,61,470 /10 gm

> 22 karat gold rate in New Delhi — ₹1,48,014 /10 gm

> MCX Gold rate in New Delhi — ₹1,61,398 /10 gm

> Silver bullion rate in New Delhi — ₹2,66,560 /kg

> MCX Silver 999 rate in New Delhi — ₹2,66,560 /kg

Spot platinum price gained 0.3% to $2,176.14, while palladium price rose 0.9% to $1,651.11.

Gold prices slid slightly, with international rates at $5,181.78 per ounce, translating to approximately ₹1,53,691 per 10 grams in India, reflecting a minor decline amid a firmer dollar and persistent inflation concerns. Conversely, silver showed resilience, rising by 1.38% to $87.03 per ounce, or about ₹2,58,144 per kg, as traders reacted to potential buying opportunities amid geopolitical tensions related to the US-Iran situation. The stronger dollar has made dollar-denominated commodities more expensive for other currency holders, impacting gold’s appeal, said Gaurav Garg, Research Analyst at Lemonn Markets Desk.

Gold and silver prices in India recouped earlier losses to trade higher on Thursday, led by strong buying at lower levels. The gains in domestic gold and silver prices comes despite losses in international precious metal prices amid a strong US dollar and fading interest rate cut hopes.

MCX gold rate today was up by ₹479, or 0.30%, at ₹1,62,268 per 10 grams level. MCX silver price traded higher by ₹5,323, or 1.98%, at ₹2,73,814 per kg.

Gold and Silver Prices in Mumbai — 12 March

> 24 karat gold rate in Mumbai — ₹1,61,750 /10 gm

> 22 karat gold rate in Mumbai — ₹1,48,271 /10 gm

> MCX Gold rate in Mumbai — ₹1,61,398 /10 gm

> Silver rate in Mumbai — ₹2,67,020 /kg

> MCX Silver 999 rate in Mumbai — ₹2,67,020/kg

Gold prices in India were trading lower, while silver prices rebounded from day’s low levels and traded higher. MCX gold rate was trading lower by ₹124, or 0.08%, at ₹1,61,665 per 10 grams.

MCX silver price recouped early losses to trade higher amid strong buying at lower levels. MCX silver rate was up by ₹2,574, or 0.96%, at ₹2,71,065 per kg level.

The trend for MCX silver price today remains negative. Silver rate today in India may find support at ₹2,62,600 level, while resistance is seen at ₹2,71,260 level, said Ajay Kedia.

MCX silver price futures are trading around the ₹2,67,200 level, reflecting consolidation after earlier volatility. Key support is placed in the ₹2,58,000 – ₹2,60,000 zone, and as long as prices hold above this region, the broader bullish structure remains intact. A sustained move above ₹2,70,000 could push prices toward ₹2,75,000 – ₹2,80,000, while a decisive breakdown below support may accelerate downside pressure, said Ponmudi R, CEO of Enrich Money.

Indian rupee touched a record low on Thursday amid a fresh surge in crude prices and a stronger dollar. The local currency fell 0.3% to 92.3575, eclipsing its previous lifetime low of 92.3475 hit earlier this week.

Ajay Kedia said that the trend for MCX gold rate today remains negative. Gold price may find support at ₹1,58,700 level, and may face resistance at ₹1,63,000 level.

The trend for gold price remains negative for today. Gold rate may find support at $5,100 level, while resistance is seen at $5,185 an ounce level, said Ajay Kedia, Director, Kedia Advisory.

MCX gold futures are currently trading in the ₹1,61,500 – ₹1,62,000 range, reflecting a phase of consolidation following the recent rally driven by geopolitical tensions. Strong buying interest remains visible in the ₹1,56,000 – ₹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 – ₹1,80,000, said Ponmudi R, CEO of Enrich Money.

Bitcoin price is trading near the $69,000 to $70,000 range after the latest US inflation data came largely in line with expectations, reinforcing the view that the Federal Reserve is unlikely to cut rates in the near term.

“With liquidity conditions expected to remain tight, markets appear to be entering a consolidation phase rather than a strong directional move. Over the past five weeks Bitcoin price has repeatedly faced resistance near the $74,000 level, suggesting that the market is still searching for fresh catalysts before attempting a decisive breakout. As a result, the broader crypto market is likely to remain range bound in the near term, with Bitcoin expected to trade between roughly $68,000 and $74,000,” said Avinash Shekhar, Co-Founder & CEO, Pi42.

At the same time, on-chain indicators suggest quiet accumulation by whales even as overall demand remains uneven and investor sentiment cautious. Historically, phases like this in Bitcoin cycles tend to represent mid cycle consolidation periods that often lay the groundwork for stronger rallies once macro visibility improves, he added.

MCX gold rate fell as much as ₹708, or 0.43%, to ₹1,61,081 per 10 grams. MCX silver price declined as much as ₹2,317, or 0.86%, to ₹2,66,174 per kilogram.

Kaveri More, Commodity Analyst at Choice Broking, believes that gold prices remained under pressure despite elevated geopolitical tensions, as broader macroeconomic factors continued to outweigh safe-haven demand.

“Rising market uncertainty, reflected in an uptick in the CBOE Volatility Index, has encouraged investors to maintain higher cash positions rather than aggressively accumulate bullion. At the same time, a global equity sell-off triggered by surging oil prices and persistent Middle East tensions has added volatility across asset classes but failed to provide sustained support to gold. Expectations that the US Federal Reserve will keep interest rates unchanged have further limited upside momentum, as higher-for-longer rate expectations reduce the appeal of non-yielding assets like gold,” More said.

Gold and silver prices in India traded lower on Thursday, following losses in international precious metal prices amid a strong US dollar and fading interest rate cut hopes.

MCX gold rate today for April futures contracts opened 0.62% higher at ₹1,62,799 per 10 grams level as against its previous close of ₹1,61,789 level.

MCX silver price for May futures contracts opened 0.26% higher at ₹2,69,212 per kilogram as compared to its previous close of ₹2,68,491 level.

However, selling pressure intensified in the domestic gold and silver prices. MCX gold price fell by ₹283, or 0.17%, to ₹1,61,506 per 10 grams. MCX silver price was down by ₹1,991, or 0.74%, at ₹2,66,500 per kg.

Gold prices fell below $5,150 an ounce as surging oil prices heightened inflationary risks and reduced the likelihood of central bank interest rate cuts. Gold price came under pressure as well from a rallying dollar and surging Treasury yields as forward-looking inflation concerns dimmed prospects for a Fed easing, with forecasts currently pointing to only one rate reduction later this year, said Jigar Trivedi, Senior Research Analyst at IndusInd Securities.

According to him, MCX gold price for April futures may drop to ₹1,60,500 per 10 grams as the yellow metal trades with negative undertone.

Gold prices fell to $5,160, extending losses for a second straight session as rising oil prices increased inflation concerns and weakened expectations of near-term monetary easing. According to Ajay Kedia, Director, Kedia Advisory, gold prices may get support at $5,120 level, while resistance is seen at $5,210 level. MCX gold price is likely to find support at ₹1,59,500 level and resistance is placed at ₹1,63,200.

Spot gold price fell 0.2% to $5,165.73 per ounce, while US gold futures for April delivery declined 0.2% to $5,171.40 an ounce. Spot silver price was steady at $85.82 per ounce.

Gold, Silver Rates Today LIVE: Gold and silver prices traded lower on Thursday, weighed down by a firmer dollar, while higher crude oil prices renewed inflation worries and dampened hopes for near-term interest rate cuts.