Gold Price in India Nears Record High, ₹17,000 Away from Previous Peak: Can It Reach a New Record in March 2026?

Gold Price Today: Positive Undertone Amid US-Iran War Escalation

The COMEX gold rate today exhibited value buying at lower levels, rebounding from the intraday low of $5,094.75/oz to touch an intraday high of $5,200 per troy ounce, logging an intraday gain of nearly 1.50% against the previous day's close.

The MCX gold rate today opened upside at ₹1,63,265 per 10 gm and touched an intraday high of ₹1,63,800 per 10 gm, approximately ₹17,000 away from its existing record high of ₹1,80,779 per 10 gm.

According to market experts, the undertone for the gold price is positive, driven by safe-haven demand for the precious metal following the escalation of the US-Iran war. The COMEX gold rate is expected to remain in the $5,100 to $5,200 per ounce range, with potential resistance at $5,250 and $5,300 on breaking above $5,200.

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On the downside, $4,900/oz is a crucial support for the precious metal, and ₹1,58,000 is a crucial support for the gold price on MCX.

Market experts predict that the MCX gold rate today will trade between ₹1,60,000 and ₹1,70,000, with prices consolidating with a mildly positive bias due to safe-haven demand and global geopolitical uncertainty.

Strong buying interest remains visible in the ₹1,58,000 to ₹1,62,000 demand zone, and if prices continue to hold above this base, a sustained breakout above ₹1,70,000 could lead to momentum extending toward ₹1,75,000 to ₹1,80,000, maintaining a constructive medium-term outlook.