Gold, Silver Rates Today Highlights: MCX gold rate rises above ₹1.60 lakh, silver price jumps 2% amid US-Iran war

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China’s central bank indicated it will flexibly and efficiently use monetary policy tools, including reserve requirement ratio cuts and interest rate reductions, during 2026 to support economic stability. People’s Bank of China Governor Pan Gongsheng said the US-Israeli war involving Iran has sharply increased global risk aversion, causing volatility in the dollar index and other currencies. The PBOC plans to maintain flexibility in the yuan exchange rate and encourage financial institutions to provide hedging services for businesses. Pan added that more than 60% of China’s trade is relatively less sensitive to exchange rate fluctuations, helping reduce risks from currency volatility.

When conflicts strike and the geopolitical situation turns dire, investors often flock to precious metals like gold and silver. Ideally, the recent war between the US and Iran should have elicited the same reaction. But this time the playbook has flipped.

Gold prices indeed have risen, but silver has taken a knock. Interestingly, the rise in gold rate is also capped.

MCX gold rate for April futures contracts was trading higher by ₹574, or 0.36%, at ₹1,60,247 per 10 grams level. MCX silver price for May futures contracts was up by ₹4,892, or 1.87%, at ₹2,67,083 per kg.

Demand for physical gold eased in India this week as volatile prices deterred buyers, while premiums in China held firm on a pickup in investment demand.

CME Group on Thursday cut the initial margin on its COMEX 100 gold futures to 7% from 9%, and reduced the margin on its COMEX 5,000 silver futures to 14% from 18%.

Spot gold price rose 0.8% to $5,117.27 per ounce. The metal has lost roughly 3% so far this week and is on course to snap a four-week winning streak on fading interest rate-cut prospects and inflation concerns as global energy prices spike. US gold futures for April delivery were up 1% at $5,126.70.

Manoj Kumar Jain of Prithvifinmart Commodity Research expects gold and silver prices to stay volatile and suggests avoiding fresh positions.

“We suggest avoiding fresh positions in both precious metals in today’s session ahead of the US job data. Gold has support at $5,038 and $4,984, while resistance is at $5,120 and $5,166 per troy ounce, and silver has support at $80 and $76.60, while resistance is at $84.80 and $88 per troy ounce in today’s session,” said Jain.

MCX gold price has support at ₹1,58,000 and ₹1,56,600, while resistance is placed at ₹1,61,100 and ₹1,62,800, while silver price has support at ₹2,57,700 and ₹2,52,000 and resistance is at ₹2,66,000 and ₹2,71,000, said Jain.

Comex gold price is currently trading in the $5,000–$5,300 range. After surging to previous all-time highs, the metal has entered a mild corrective phase. However, the broader bullish structure remains intact, supported by sustained momentum and continuation above earlier consolidation zones. Prices continue to hold firmly above key moving averages and prior resistance zones, which now act as support, signaling strengthening momentum. Strong buying interest is visible in the $5,100–$5,200 support band, said Ponmudi R.

As long as gold sustains above the $4,900–$5,000 support region, the bullish trend remains dominant. A sustained breakout above the $5,400–$5,600 band could open the path toward fresh record highs, he added.

MCX silver price is currently trading in the ₹2,60,000 – ₹2,80,000 range, reflecting consolidation following earlier volatility driven by global safe-haven flows. The broader bullish framework remains intact as prices continue to hold above key structural support levels amid heightened geopolitical tensions. Short-term momentum is gradually strengthening, said Ponmudi R.

Key support for MCX silver price is placed at ₹2,50,000 – ₹2,60,000. Sustained holding above this region could push prices toward ₹2,80,000 – ₹3,00,000. Dips toward strong support zones may offer accumulation opportunities for positional traders, though a decisive breakdown below these levels could accelerate downside pressure, he added.

MCX gold price is currently trading within the ₹1,55,000 – ₹1,65,000 range. Gold prices are consolidating in the short term with a positive bias supported by continued risk-off flows. Strong buying interest is seen in the ₹1,50,000 – ₹1,55,000 demand zone following the recent rally driven by geopolitical tensions in the Middle East. Holding above this support base, followed by a sustained breakout above ₹1,70,000, could revive bullish momentum toward ₹1,75,000 – ₹1,80,000, maintaining a positive medium-term outlook, said Ponmudi R, CEO of Enrich Money.

According to Ajay Kedia, the overall trend for MCX silver price remains positive; however, prices are currently trading between the 50-day moving average (50MA) and the 200-day moving average (200MA). A clearer directional move may emerge once prices decisively break above or below either of these levels.

Resistance for MCX silver price is seen at ₹2,75,800, while support is placed at ₹2,62,200. Kedia recommends ‘buy on dips’ strategy for MCX silver.

Bitcoin price is trading around $71,000–$72,000, slightly below recent highs after briefly touching the $74,000 level, as the market pauses following a strong rally earlier this week. Ethereum is holding near $2,100–$2,160, while several major altcoins have also moved higher as overall crypto sentiment improves.

“The rally in Bitcoin prices has been supported by strong inflows into US spot Bitcoin ETFs, which recently saw more than $460 million in a single day, signaling renewed institutional demand. However, traders remain cautious as large crypto options worth billions are expiring, which could increase short-term volatility. For now, $70,000 is a key support level, while $74,000 – $75,000 remains the next resistance zone for Bitcoin,” said CoinSwitch Markets Desk.

The overall trend for MCX gold prices remains positive. Technically, the current price is trading near the 50-day moving average (50MA), while the MACD indicator signals the possibility of a bullish crossover as the earlier bearish momentum continues to weaken. However, unless the price decisively moves above the 50MA, minor pullbacks cannot be ruled out, said Ajay Kedia, Director at Kedia Advisory.

According to him, resistance for MCX gold rate is seen at ₹1,63,240, while support is placed at ₹1,59,100. The recommended strategy is to buy on dips.

Gold prices have risen about 18% so far this year, notching successive record highs amid heightened geopolitical and economic uncertainty.

CME cuts initial margin on its COMEX 100 gold futures to 7% from 9%. CME also cuts initial margin on its COMEX 5000 silver futures to 14% from 18%.

Gold and silver prices on the Multi Commodity Exchange (MCX) opened higher on Friday, following gains in international bullion prices as the widening US-Iran war lifted safe-haven appeal for the precious metals.

MCX gold rate today for April futures contracts opened 0.85% higher at ₹1,61,040 per 10 grams as against its previous close of ₹1,59,673 level.

MCX silver price for May futures contracts opened higher by ₹5,759, or 2.19%, at ₹2,67,950 per kilogram as compared to its previous close of ₹2,62,191 level.

Silver prices moved toward $84 per ounce as the broader precious metals complex recovered, though the metal remains on course to register a weekly loss exceeding 10%. The decline followed heightened demand for the US dollar amid intensifying geopolitical tensions as the US-Israeli offensive against Iran entered its seventh day, with Tehran launching fresh missile and drone strikes across the Gulf. Surging oil prices added to inflation worries, reinforcing expectations that the Federal Reserve may delay rate cuts until September or October rather than July.

Gold traded near $5,125 per ounce, recovering from losses as escalating tensions in the Middle East supported safe-haven demand. The US-Israeli conflict with Iran entered its seventh day. Rising geopolitical risks and higher oil prices lifted inflation concerns, prompting traders to scale back expectations for Federal Reserve easing to just one rate cut this year, compared with two projected earlier in the week.

Recent US data also indicated resilient economic momentum, including lower jobless claims, stronger productivity, fewer job cuts, and faster-than-expected services sector growth.

Spot gold price held its ground at $5,076.09 per ounce, and the US gold futures for April delivery rose 0.1% at $5,084.50. Spot silver price gained 0.1% to $82.26 per ounce.

Gold and silver prices were largely steady on Friday, after falling more than 1% in the previous session, as investors remained cautious amid widening war in the Middle East and its fallout on the global economy.