Gold, Silver Rates Today Highlights: MCX gold rate falls below ₹1.63 lakh, silver gets cheaper by ₹7,000 per kg

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Manoj Kumar Jain Prithvifinmart Commodity Research recommends buying gold on dips around ₹1,62,000 and ₹1,61,000 with a stop loss below ₹1,59,500 for the target of ₹1,64,400 and ₹1,66,000, and buying silver on dips around ₹2,72,000 and ₹2,66,600 with a stop loss below ₹2,61,600 for the target of ₹2,81,000 and ₹2,85,500.

According to Jain, gold price has support at $5,180 and $5,145 while resistance at $5,274 and $5,315 per troy ounce and silver price has support at $86.40 and $82.80, while resistance is at $92.40 and $96 per troy ounce in today’s session.

MCX gold price has support at ₹1,61,800 and ₹1,60,350 and resistance at ₹1,64,400 and ₹1,66,600, while MCX silver rate has support at ₹2,74,000 and ₹2,68,800 and resistance is at ₹2,81,000 and ₹2,85,500.

Nehal Meshram of Morningstar Investment Research India said that gold’s enduring appeal amid heightened market volatility and ongoing geopolitical risks underscores the need to invest in the precious metal.

“Gold ETFs continue to benefit from their role as portfolio diversifiers and their convenience, liquidity, and transparency as a means of gaining exposure to the metal. The trend indicates that gold is increasingly being utilised not just for tactical purposes but also as a strategic component in investor portfolios,” she said.

After hitting a record ₹24,040 crore in inflows last month, the investment in gold ETFs moderated sharply in February, according to the latest data from the Association of Mutual Funds in India (AMFI). The data released by AMFI yesterday highlighted that gold ETF inflows, albeit strong at ₹5,255 crore, were sharply 78% down on a month-on-month (MoM) basis, coinciding with the decline in the gold prices in India and internationally.

The trend for MCX silver price today remains sideways to negative, said Ajay Kedia. According to him, MCX silver rate may find support at ₹2,71,250 level, while resistance is seen at ₹2,79,500 level.

Gold and Silver Prices in Mumbai — 11 March

> 24 karat gold rate in Mumbai— ₹1,63,140/10 gm.

> 22 karat gold rate in Mumbai — ₹1,49,545/10 gm.

> MCX Gold rate in Mumbai — ₹1,62,800/10 gm.

> Silver bullion rate in Mumbai— ₹2,75,580 /kg.

> MCX Silver 999 rate in Mumbai — ₹2,75,580/kg.

The gold–silver ratio has rebounded to around 56 after earlier falling to multi-year lows, signalling that gold has recently started outperforming silver, according to Tata Mutual Fund. Looking ahead, the fund house expects the gold-silver ratio to mean-revert toward the 70–72 range, driven largely by stronger demand for gold as investors seek safe-haven assets amid geopolitical risks and trade tensions.

MCX gold price was trading lower by ₹851, or 0.52%, at ₹1,62,452 per 10 grams, while MCX silver price declined by ₹4,700, or 1.69%, to trade at ₹2,73,150 per kg.

Tata Mutual Fund indicated that despite short-term volatility, investors could consider accumulating precious metals during price corrections, given the supportive long-term fundamentals and macroeconomic uncertainties.

“The current geo-economic factors may support gold and silver prices with the addition of structural and cyclical fundamental factors. Investors may look for accumulation on any decline in the prices. Silver is a developing growth story and the trend depends on recovery in industrial demand,” said Tata Mutual Fund.

The fund house added that investors could adopt a staggered approach when investing in silver, especially considering the commodity’s inherently volatile nature. According to its view, any decline in prices triggered by a stronger dollar or easing geopolitical tensions could offer opportunities to gradually accumulate gold and silver for medium- to long-term investments.

The view for MCX gold rate today remains sideways to positive, said Ajay Kedia. According to him, MCX gold price may face resistance at ₹1,64,300 level, while support is seen at ₹1,61,350 level.

MCX Silver futures are currently trading in the ₹2,60,000 – ₹2,80,000 range, reflecting consolidation after the earlier volatility triggered by global safe-haven flows. The long-term bullish structure remains intact as long as prices continue to hold above key support levels. Immediate support is placed around ₹2,50,000 – ₹2,60,000. A sustained hold above this region could extend the recovery toward the ₹2,80,000 – ₹3,00,000 zone. Dips toward strong support areas may continue to attract accumulation from positional traders, said Ponmudi R.

MCX gold prices are currently trading within the ₹1,55,000 – ₹1,65,000 range, reflecting a short-term consolidation phase following the recent sharp rally driven by geopolitical risk-off flows. Strong buying interest remains visible in the ₹1,50,000 – ₹1,55,000 demand band, which continues to act as a key structural support zone. As long as gold prices hold above this base, the broader medium-term bullish framework remains intact. A sustained breakout above ₹1,70,000 could revive bullish momentum and potentially push prices toward the ₹1,75,000 – ₹1,80,000 zone, said Ponmudi R, CEO of Enrich Money.

Gold and silver prices opened lower on Multi Commodity Exchange (MCX) on Wednesday amid a muted trend in the international bullion prices.

MCX gold rate for April futures contracts opened 0.09% lower at ₹1,63,149 per 10 grams as against its previous close of ₹1,63,303 level. Selling pressure intensified and MCX gold prices fell 0.43% to ₹1,62,600 level.

MCX silver price for May futures contracts opened 0.31% lower at ₹2,76,988 per kilogram as compared to its previous close of ₹2,77,850 level. MCX silver rate declined by ₹2,850, or 1.02%, to ₹2,75,000 level.

Gold prices climbed to around $5,210, extending gains from the previous session as geopolitical tensions in the Middle East boosted safe-haven demand. According to Ajay Kedia, Director, Kedia Advisory, gold prices may find support at $5,150 level and resistance is seen at $5,260. MCX gold prices may get support at ₹1,61,200 and resistance is placed at ₹1,65,500 level.

The US and Israel pounded Iran with what the Pentagon and the Iranians on the ground called the most intense airstrikes of the war, despite global markets betting that President Donald Trump will seek to end the conflict soon.

Spot gold price gained 0.4% to $5,213.99 per ounce, while US gold futures for April delivery fell 0.4% to $5,221.80. Spot silver price rose 0.6% to $88.89 per ounce.

Gold and silver prices traded higher on Wednesday as a retreat in oil prices eased worries over inflation, while investors awaited a slew of US economic data this week to gauge the Federal Reserve’s policy outlook.