Gold, Silver Rate Today Live Updates: Gold prices rise, but set for weekly fall; where are precious metals headed?

Gold and silver prices started Friday’s session on the Multi Commodity Exchange of India (MCX) on a weaker note, as the sharp rise in energy prices reduced expectations of an early interest rate cut in the United States. Persistent worries about inflation, along with doubts over whether the Federal Reserve will be able to ease rates if crude oil prices stay high, have somewhat limited the safe-haven demand for gold.

Market participants are now awaiting the release of the delayed Personal Consumption Expenditures index for January, which is scheduled to be published later on Friday.

On the MCX, silver futures for May 2026 delivery declined by Rs 1,961, or 0.7%, to Rs 2,66,001 per kilogram. Gold futures for April 2026 delivery also slipped by Rs 507, or 0.3%, to Rs 1,59,764 per 10 grams.

In global markets, however, gold registered a slight increase on Friday. Spot gold advanced 0.8% to $5,118.75 per ounce as of 0234 GMT, while US gold futures for April delivery remained nearly unchanged at $5,123.30. Spot silver also moved higher, rising 1.4% to $84.96 per ounce.

Among precious metals, spot silver climbed 1.4% to $84.96 per ounce. Platinum rose 0.9% to $2,151.97, while palladium advanced 1.4% to $1,640.64.

Oil prices climbed above $100 per barrel as attacks on tankers in the Gulf and warnings from Iran weakened hopes of a quick easing of the Middle East conflict, adding to concerns about rising inflation.

Amid the surge in oil prices, US President Donald Trump again called on Federal Reserve Chair Jerome Powell to cut interest rates.

Market participants currently expect the Federal Reserve to maintain its policy rate within the 3.5% to 3.75% range at the conclusion of its two-day meeting on March 18, according to CME Group’s FedWatch tool.

Although recent inflation figures suggest that price pressures remain contained, the impact of the conflict with Iran and the resulting rise in crude oil prices has not yet been reflected in the data.

Investors are now awaiting the release of the delayed January Personal Consumption Expenditures Index, scheduled later in the day.

Bullion has fallen about 1% so far this week. Persistent inflation concerns and uncertainty over whether the Federal Reserve will be able to reduce interest rates if oil prices stay elevated are limiting gold’s upside.

The dollar edged lower on Friday, making commodities priced in the greenback, including gold, less expensive for investors using other currencies. At the same time, yields on the US 10-year Treasury note declined, enhancing the attractiveness of bullion, which does not offer interest.

Geopolitical tensions intensified after Iran’s Supreme Leader Mojtaba Khamenei said on Thursday that Tehran would continue to keep the strategic Strait of Hormuz closed as leverage against the United States and Israel. The development has heightened worries over global energy supplies and broader financial market risks.

Gold prices advanced on Friday, supported by a softer US dollar and lower Treasury yields. Despite the day’s gains, the metal remained on course for a second straight weekly decline as higher energy prices reduced expectations of imminent interest rate cuts in the United States.

Spot gold rose 0.8% to $5,118.75 per ounce as of 0234 GMT, while U.S. gold futures for April delivery were largely unchanged at $5,123.30.

"The dollar has eased from its highs which has opened the door for ⁠gold to make headway amid the ongoing geopolitical risks," said Tim Waterer, KCM Trade chief market analyst.

Gold prices edged lower, registering a modest dip as the stronger US dollar and ongoing worries about inflation weighed on the metal. In contrast, silver remained comparatively firm, with traders responding to possible buying opportunities amid rising geopolitical tensions linked to the US-Iran situation, according to Gaurav Garg, Research Analyst at Lemonn Markets Desk.

In global markets, spot silver advanced by USD 1.25, or 1.47%, to reach USD 86.99 per ounce, while gold was quoted slightly higher at USD 5,178.45 per ounce.

Praveen Singh, Research Analyst at Mirae Asset ShareKhan, said that spot gold continues to move in the opposite direction of crude oil prices and is currently fluctuating within a narrow range of USD 5,100 to USD 5,250 per ounce.

He also pointed out that Iran has cautioned that crude oil prices could potentially climb to as much as USD 200 per barrel as tensions intensify in the Persian Gulf, including attacks targeting merchant ships in the blockaded waters.

Silver prices in the national capital rose by Rs 1,500 to reach Rs 2.76 lakh per kilogram on Thursday, supported by strong global cues and escalating tensions in West Asia.

Data from the All India Sarafa Association showed that the precious metal advanced by Rs 1,500, or 0.54%, to Rs 2,76,500 per kilogram (including all taxes). In the previous session, it had settled at Rs 2,75,000 per kg after falling by Rs 4,275 on Wednesday.

Meanwhile, gold of 99.9% purity slipped by Rs 400, bringing an end to its three-day upward streak. The metal closed at Rs 1,65,200 per 10 grams (inclusive of all taxes), compared with Rs 1,65,600 per 10 grams in the earlier session.

Market experts noted that gold and silver moved in different directions as investors assessed geopolitical tensions along with macroeconomic indicators emerging from the United States.

Spot gold continues to trade inversely to crude oil prices. The metal is trading in the narrow band of $5100-$5250.

Iran threatened that the world should be prepared for oil to hit $200 a barrel as it attacked merchant ships in the blockaded Gulf.

IEA members are set to release 400mb of oil in a coordinated effort to dampen rising oil prices, though impact could.be short lived.

The latest release of the U.S. Consumer Price Index (CPI) met expectations: inflation rose 2.4% y-o-y and 0.30% m-o-m, which suggested a stable inflationary trend.

Gold, currently steady around $5175, is expected to keep the familiar range., says Praveen Singh, Research Analyst, Mirae Asset ShareKhan.

Among the 25 gold exchange traded funds, Zerodha Gold ETF recorded the steepest fall of nearly 3%, while the remaining funds in the category declined between 1% and 2% during Thursday’s trading session.

On the Multi Commodity Exchange, silver futures for May 2026 delivery dropped by Rs 2,126, or 0.8%, to Rs 2,66,362 per kilogram. Gold futures scheduled for April 2026 delivery also moved lower, slipping Rs 708, or 0.43%, to Rs 1,61,081 per 10 grams.

In global markets, spot gold edged down 0.1% to $5,172.86 per ounce as of 0221 GMT. U.S. gold futures for April delivery were largely unchanged at $5,178 per ounce. Spot silver also weakened, declining 0.3% to $85.49 per ounce.

Silver and gold exchange traded funds declined by as much as 4% on Thursday after prices of both metals opened slightly lower on the Multi Commodity Exchange. The fall came as the US dollar strengthened by about 0.1%, making bullion priced in dollars more costly for investors holding other currencies.

Since precious metals are traded globally in US dollars, any appreciation in the greenback raises the cost for buyers using other currencies to acquire the same amount of gold or silver.

Among the 18 silver ETFs in the market, Motilal Oswal Silver ETF registered the sharpest decline, dropping nearly 4% to an intraday low of Rs 256.01 compared with its previous close of Rs 267.23. Five funds in the segment, ICICI Prudential Silver ETF, Zerodha Silver ETF, Axis Silver ETF, Edelweiss Silver ETF and 360 One Silver ETF, fell around 3% each, while the remaining funds posted declines of roughly 2% apiece.

"The strength of the US dollar and the broader interest rate environment are creating some headwinds for gold, even though the ongoing violence would typically support the metal," said Nicholas Frappell, global head of institutional markets at ABC Refinery.

Iran warned that oil prices could surge to $200 a barrel after its forces targeted merchant vessels on Wednesday. At the same time, the International Energy Agency called for a large-scale release of strategic oil reserves to cushion the impact of what could become one of the most severe oil shocks since the 1970s.

Crude prices climbed above $100 per barrel as Iran intensified strikes on oil and transportation infrastructure across the Middle East, heightening concerns about rising inflation.

Gold prices declined on Thursday as a stronger US dollar put pressure on the metal, while expectations for early interest rate cuts in the United States weakened. Rising energy costs have also heightened concerns about inflation, reducing the likelihood of policy easing in the near term.

In the spot market, gold slipped 0.4% to $5,153.79 per ounce as of 0545 GMT. Meanwhile, U.S. gold futures for April delivery also dropped 0.4%, settling at $5,159.20 per ounce.

“Both precious metals are currently experiencing significant price swings. Despite this, silver is likely to maintain its support level near $74.00 per troy ounce, while gold could hold above its support of $4,940 per troy ounce on a weekly closing basis. We expect continued volatility in gold and silver prices due to movements in the dollar index, the US-Iran war, and sharp fluctuations in crude oil prices,” said Manoj Kumar Jain of Prithvi Finmart according to an ET report.

He noted that gold faces support in the range of $5,145 to $5,100 per troy ounce, with resistance seen between $5,220 and $5,264. For silver, support is placed between $82.80 and $79.10 per troy ounce, while resistance levels are estimated at $88.00 to $90.40 during the current trading session.

On the Multi Commodity Exchange of India, gold is expected to find support between Rs 1,59,800 and Rs 1,59,000, with resistance in the range of Rs 1,62,700 to Rs 1,63,500. Silver, meanwhile, has support levels at Rs 2,65,500 to Rs 2,61,600 and resistance between Rs 2,71,000 and Rs 2,75,000. Jain advised investors to wait for markets to stabilise before taking fresh positions.

Gold and silver prices began Thursday’s session marginally lower on the Multi Commodity Exchange of India (MCX), weighed down by a firmer US dollar. The greenback strengthened by 0.1%, which made bullion priced in dollars more expensive for investors holding other currencies. Since gold and silver are traded globally in dollars, a stronger US currency means buyers using other currencies must pay more to acquire the same quantity of the metals.

Market participants are also awaiting the release of the delayed Personal Consumption Expenditures (PCE) index for January, scheduled to be published on Friday, for further cues on inflation and interest rate expectations.

On the MCX, silver futures for May 2026 delivery declined by Rs 2,126, or 0.8%, to Rs 2,66,362 per kilogram. Gold futures expiring in April 2026 also slipped, falling Rs 708, or 0.43%, to Rs 1,61,081 per 10 grams.

In global markets, spot gold edged down 0.1% to $5,172.86 per ounce as of 0221 GMT. US gold futures for April delivery were largely unchanged at $5,178 per ounce. Spot silver, meanwhile, dropped 0.3% to $85.49 per ounce.