Gold Price Surges Past ₹1.67 Lakh per 10 Grams on MCX Amid Tensions in US-Israel-Iran Conflict

Market Update: Gold and Silver Prices Surge Amid Escalating Middle East Tensions

Gold Price Movement The Multi Commodity Exchange of India (MCX) saw a sharp increase in gold prices on Monday, following a rally in international bullion prices. ₹3,397 (2.09%) or ₹1,65,501 per 10 grams was the opening price for April futures contracts, up from the previous close of ₹1,62,104. Gold prices jumped to a high of ₹1,66,920 level, a 3.5% increase.

Silver Price Movement MCX silver price for May contracts touched a high of ₹2,93,152 per kilogram, surging ₹10,508 (3.71%) from its previous close of ₹2,82,644. The international market saw spot gold price rally 1% to $5,329.39 an ounce, while US gold futures rose 1.8% to $5,342.80 per ounce.

Market Outlook The latest rally builds on a 64% surge in 2025, driven by strong central bank buying, robust inflows into exchange-traded funds, and growing expectations of monetary policy easing in the United States. JP Morgan and Bank of America reiterated that gold prices could climb toward the key $6,000 level, with JP Morgan forecasting prices to reach $6,300 an ounce by the end of 2026.

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Forecasts and Recommendations Jigar Trivedi, Senior Research Analyst at IndusInd Securities, expects MCX gold price for April futures to appreciate to ₹1,64,000 per 10 grams, with ₹1,60,000 level as a floor. For MCX silver price for May futures, Trivedi expects the price to stay elevated, with ₹2,84,000 per kg as resistance.