Gold Prices in India Surge ₹15,000 in Two Days, Leaving Investors Questioning Market Trends

Gold Rate Update

• ₹1,44,570: Intraday high of MCX gold rate on Wednesday
• ₹15,000: Gain in gold prices in India
• ₹1,29,595: Intraday low of MCX gold rate on Monday
• $4,500: Lower end of the COMEX gold rate trading band
• $4,600: Upper end of the COMEX gold rate trading band
• ₹1,43,000: Lower end of the MCX gold rate resistance band
• ₹1,45,000: Upper end of the MCX gold rate resistance band
• ₹1,48,000: Immediate resistance area for MCX gold rate
• ₹1,30,000: Lower end of the MCX gold rate support band
• ₹1,32,000: Upper end of the MCX gold rate support band

Market Analysis

The MCX gold rate extended its recovery on Wednesday, touching an intraday high of ₹1,44,570 per 10 gm, logging a gain of ₹15,000 in gold prices in India. Market experts attribute this surge to easing inflation concerns, triggered by a sharp sell-off in WTI crude oil prices, which fell to an intraday low of $86.60 per barrel. This has eased inflation concerns, fueling value buying after the US Fed rate cut trigger.

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COMEX Gold Rate

The COMEX gold rate opened on a steady note, trading above key short-term moving averages, with prices currently hovering within the $4,500–$4,600 band. The overall structure is showing signs of recovery, supported by persistent geopolitical tensions in the Middle East, which continue to drive safe-haven demand and provide a strong underlying cushion to prices.

MCX Gold Rate

The MCX gold rate is currently trading in the ₹1,43,000 to ₹1,45,000 resistance band, indicating underlying buying interest despite some intraday volatility. Price action suggests resilience at higher levels, keeping the broader tone constructive. On the upside, the ₹1,48,000 zone remains the immediate resistance area. A sustained move above this level would strengthen bullish momentum and may open the path toward ₹1,55,000 to ₹1,57,000, where supply pressure is likely to emerge.

Read also: US-Iran Tensions Spark Uptick in Oil Prices Amid Global Market Decline

Outlook

The near-term bias remains buy-on-dips, supported by underlying strength in prices, with macro uncertainty and geopolitical developments expected to continue driving momentum. However, gold's upside may be capped by a firm US dollar, keeping price movements relatively restrained for now.