Gold Prices Plummet by ₹1,800 per 10 Grams in India Amid Inflation Worries and US-Iran Tensions

Gold Rate Today: Pressure Mounts Amid Rising Crude Oil Prices

The MCX gold rate today opened with a downside gap at ₹1,60,651 per 10 gm, touching an intraday low of ₹1,59,826, logging an intraday loss of over ₹1,800 per 10 gm against Friday's close of ₹1,61,634. In the international market, the COMEX gold price today opened with a downside gap and touched an intraday low of $5,021.59/oz, down around 2%.

Despite heightened geopolitical risk, gold prices are under pressure due to the strengthening US dollar, buoyed by rising crude oil prices and concerns that higher energy costs could reignite global inflation. Sugandha Sachdeva, Founder of SS WealthStreet, attributes this pause to the consolidation phase that gold has entered after registering an extraordinary 70% gain in 2025 and an over 20% gain in 2026. SS WealthStreet expert suggests that both gold and the US dollar compete for safe-haven demand, with the recent surge in the dollar capping gains in precious metals.

Key Levels to Watch

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• ₹1,58,000 per 10 gm is a crucial support level for the MCX gold rate.
• ₹1,50,000 per 10 gm is the next crucial support level.
• ₹1,65,000 per 10 gm is a crucial resistance level, breaking above which would mean a fresh bull trend in the bullion.

For renewed bullish momentum, gold prices need to sustain above $5,280 per ounce globally and ₹1,65,000 per 10 gm in the domestic market, which could open the door for the next leg of the rally.