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Gold, Silver Rate Today Live Updates: MCX Gold rallies 4%, nears Rs 1.7 lakh per 10 grams mark; international gold climbs 2% on rising Middle East tensions

Gold Silver Rate Today Live Updates: Gold prices are up 2% amidst heightened tensions in the Middle East following Israel and US s...

The Times of India | Mar 02, 2026, 19:37:33 IST

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19:37 (IST), Mar, 02

Gold Rate Today Live: Gold prices surge past $5,400 per ounce

Gold prices surged past $5,400 per ounce, touching their highest level in more than a month as investors flocked to safe-haven assets after coordinated US and Israeli strikes on Iran over the weekend, said Jigar Trivedi, Senior Research Analyst at IndusInd Securities.

He noted that the military action heightened tensions across the region and affected shipping movement in the oil-producing Gulf.

16:10 (IST), Mar, 02

Gold Rate Today Live: Gold surging as Iran war breaks out

Geopolitical tensions have erupted violently with US and Israel attacking Iran on February 28. The raging war is leading to surge in precious metals and oil prices. With the Iranian leadership taken out, Iran is escalating the war as it targets neighbouring countries which support the US.

Today's US data include S&P and ISM manufacturing Indices, though data may not mean much in the present scenario.

Gold, currently trading 2% higher at $5405, is expected to trade with a positive bias on safe haven demand. The metal may rise to test its record high of $5595. Support is at $5300/$5250, says Praveen Singh, Head of Commodities and Currencies, Mirae Asset ShareKhan.

14:26 (IST), Mar, 02

Gold Rate Today Live: Mumbai bullion opening rates

Silver spot (in Rs per kilo) : 286936.00

Standard gold (99.5) : 165802.00

Pure gold (99.9) : 166469.00

13:23 (IST), Mar, 02

Gold Rate Today Live: Gold nears Rs 1.7 lakh mark

Gold prices jumped as much as 4 per cent, or Rs 6,700, to reach Rs 1.68 lakh per 10 grams on the MCX on Monday following large-scale strikes by the United States and Israel on Iran that resulted in the death of Supreme Leader Ali Khamenei. The escalation intensified geopolitical risks, driving investors toward safe-haven assets and lifting demand for precious metals amid rising global economic uncertainty.

The fresh surge comes after the yellow metal underwent a sharp correction last month due to several factors. With the current rally, prices are now about 12 per cent below their all-time high of Rs 1,93,096. In overseas markets, spot gold gained 1.9 per cent to $5,376.44 per ounce after hitting its strongest level in over four weeks. Earlier in the trading session, bullion prices had climbed by as much as 2 per cent.

12:10 (IST), Mar, 02

Gold Rate Today Live: Markets swiftly move into risk-off mode

Gold extended gains from last week as intensifying geopolitical tensions reinforced safe-haven demand, while lingering uncertainty over the tariff stance of President Trump added another layer of macro risk.

Rally accelerated in early morning trade, with prices jumping over 2% after the US and Israel launched major strikes on Iran that reportedly killed Supreme Leader Ayatollah Ali Khamenei, marking an unprecedented escalation in the region. Markets swiftly moved into risk-off mode, fearing a broader conflict that could destabilize the Middle East and disrupt crude flows through the Strait of Hormuz, a vital artery for global energy supplies.

Fresh Israeli strikes on Tehran targeting command centers and air defenses were met with retaliatory missile attacks on Israeli territory and US bases in the Gulf, further heightening uncertainty. Equities retreated sharply while crude oil surged, amplifying inflation concerns and strengthening bullion’s appeal as a store of value. Investors now turn to key manufacturing PMI releases from major economies today, while broader direction this week will hinge on US labor market data for cues on growth resilience and Federal Reserve policy expectations, says Manav Modi Commodities Analyst Motilal Oswal Financial Services.

11:04 (IST), Mar, 02

Gold Rate Today Live: Gold, silver ETFs rise

Silver and gold exchange-traded funds recorded sharp gains of up to 18 per cent on Monday as investors moved toward safer investment options in response to escalating geopolitical tensions after the United States and Israel launched strikes on Iran.

Angel One Silver ETF led the surge, climbing about 18 per cent to touch an intraday high of Rs 11.84. Tata Silver ETF advanced 13 per cent, while Zerodha Silver ETF rose 10 per cent. The remaining 15 funds in the segment posted gains ranging between 8 per cent and 9 per cent.

10:04 (IST), Mar, 02

Gold Rate Today Live: Precious metals are likely to stay supported

"The US–Israel strikes on Iran represent a significant geopolitical shock, raising the global oil risk premium and boosting demand for safe haven assets like gold and silver. For India, with close to 90% dependence on imported crude, any sustained rise in Brent prices quickly feeds into higher fuel costs, broader inflation, and a wider current account deficit. This complicates the RBI’s disinflation path and could delay rate cuts.

Indian equities have already turned risk off, with expectations of more volatility, foreign investor outflows, and pressure on autos, financials, and energy intensive sectors. Precious metals are likely to stay supported as long as escalation risks remain. The conflict premium will ease only when there is clarity on leadership in Tehran, credible channels for de escalation, and assurance that vital oil routes such as the Strait of Hormuz remain open,” says Rajeev Sharan, Head – Criteria, Model Development & Research, Brickwork Ratings.

09:29 (IST), Mar, 02

Gold Rate Today Live: MCX Gold, MCX Silver rally over 3%

Gold and silver witnessed a strong surge on Monday, with prices jumping sharply after the United States and Israel carried out large-scale attacks on Iran that resulted in the death of Supreme Leader Ali Khamenei. The heightened geopolitical tensions fuelled demand for safe-haven assets, driving a rally in precious metals.

On the Multi Commodity Exchange of India, gold futures for April 2026 delivery climbed by more than Rs 5,811, marking a gain of 3.5 per cent to trade at Rs 1,67,915 per 10 grams. Silver futures for the March 5, 2026 contract also registered a steep rise, advancing Rs 9,492, or 3.5 per cent, to Rs 2,84,490 per kilogram.

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09:23 (IST), Mar, 02

Gold Rate Today Live: International gold prices rise

Gold advanced on Monday after the United States and Israel carried out large-scale attacks on Iran that resulted in the death of Supreme Leader Ayatollah Ali Khamenei, intensifying geopolitical strains and adding to uncertainty in the global economy.

In the spot market, gold gained 1 per cent to $5,329.39 an ounce as of 0201 GMT, after touching its strongest level in over four weeks. During the session, prices had surged by as much as 2 per cent.

Meanwhile, US gold futures climbed 1.8 per cent to $5,342.80 per ounce.

08:59 (IST), Mar, 02

Gold Rate Today Live: Some important factors

Brokerage firm Choice Broking has said that major global macroeconomic indicators — including inflation and unemployment data from the Eurozone, along with the upcoming European Central Bank meeting — are likely to influence broader market sentiment.

08:35 (IST), Mar, 02

Silver Price Today Live: Gold, silver last week

Pranav Mer, Vice President, EBG - Commodity and Currency Research at JM Financial Services, notes that both precious metals ended last week in positive territory once again, with gold rising around 3.2 per cent and silver climbing more than 8 per cent.

He said bullion continues to draw strength from safe-haven demand, sustained purchases by central banks and exchange-traded funds, and mounting geopolitical and economic uncertainty across global markets.

Mer further pointed out that a recent ruling by the US Supreme Court against former President Donald Trump’s trade tariffs — declaring most of them unlawful — has heightened global uncertainty, as multiple companies have initiated legal claims seeking refunds.

08:33 (IST), Mar, 02

Silver Price Today Live: Strong rally last week

Silver and gold futures recorded strong gains on the Multi Commodity Exchange last week. The March silver contract jumped by Rs 22,054, marking an increase of 8.72 per cent, while the April gold contract advanced Rs 5,228, up 3.33 per cent during the same period.

08:33 (IST), Mar, 02

Gold Rate Today Live: Gap up opening?

“Gold and silver prices are expected to remain extremely volatile, with a likely gap-up opening on Monday as the Middle East conflict, involving renewed US and Israeli military action against Iran, continues to weigh heavily on global risk sentiment,” said Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities.

He added that escalating hostilities and fading prospects of a swift diplomatic breakthrough are prompting investors to gravitate toward traditional safe-haven instruments such as gold and silver, increasing expectations of a strong opening in bullion markets.

“As pressure mounts on global equities and other risk-oriented assets, funds typically rotate into precious metals, which are viewed as a hedge during periods of uncertainty,” Trivedi said.

Meanwhile, domestic commodity markets will remain shut on Tuesday on account of Holi.

08:32 (IST), Mar, 02

Gold Rate Today Live: How much will gold, silver rise?

Market experts said the magnitude of any rise in domestic gold and silver prices will largely hinge on the duration of the conflict, as international investors reassess their risk appetite against the backdrop of fears that instability in the Middle East could persist.

They also noted that, apart from geopolitical developments, a series of macroeconomic indicators due this week — including manufacturing and services PMI data from various economies, as well as US retail sales, non-farm payrolls and employment figures later in the week — will influence price movements.

08:32 (IST), Mar, 02

Gold Rate Today Live: Domestic gold expected to open higher

Analysts expect bullion markets to open sharply higher on Monday as trading resumes, with investors likely to move aggressively into safe-haven assets amid rising global uncertainty triggered by intensifying tensions in the Middle East.

US President Donald Trump declared “major combat operations” in Iran following Israeli airstrikes on Tehran. Iranian state media reported on Sunday that Supreme Leader Ayatollah Ali Khamenei had been killed, prompting Iran to launch retaliatory attacks targeting American military bases and Israeli positions across the region.

Gold Silver Rate Today Live Updates: Gold is considered a safe haven asset. It is the default go to investment bet for not only conservative investors but also those who look for pockets of resilience in times of geopolitical tensions and economic uncertainties. With the ongoing situation in the Middle East, fears of the impact of trade disruption and rising oil prices has investors rushing to buy gold. Silver prices too have been rising taking cues from gold. Will gold hit Rs 2 lakh per 10 grams in the domestic market and silver cross Rs 4 lakh per kg in the coming days on rising tensions globally? All eyes are on how swiftly the situation resolves and whether the Strait of Hormuz, a key passageway for oil and other trade shipments, is affected for long.

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Comments (2)

NriNatter DotComMost Interacted

90 days ago

There is unimaginable amount of gold and other precious metals locked up in households and religious places (like temples, monaste...Read More

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