Gold Rate Today LIVE: Gold and silver prices traded over a percent higher each on the Multi Commodity Exchange of India (MCX) on Wednesday, following a rally in international bullion prices as the escalating US-Israeli strikes on Iran heightened geopolitical uncertainty and supported safe-haven demand.
MCX gold rate today for April futures contracts opened higher by ₹2,157, or 1.33%, at ₹1,63,265 per 10 grams as against its previous close of ₹1,61,108 level.
MCX silver rate for May futures contracts opened higher at ₹2,71,000 per kilogram, up ₹5,682, or 2.14% from its previous close of ₹2,65,318 level.
The rally in domestic gold and silver prices was supported by rising safe-haven demand as the Middle East war jitters kept investors away from risky assets, leading to the stock market crash and fueling a surge in commodities, especially precious metals and crude oil prices.
Gold Price Above $5,100
Gold prices in the international market rebounded on Wednesday as the US-Israel-Iran war escalated, lifting the safe-haven commodity prices.
Spot gold price rallied 1% to $5,138.46 per ounce, after falling to its lowest since February 20 in the previous session. US gold futures for April delivery gained 0.5% to $5,147.10 an ounce. Spot gold price has jumped 19% year-to-date, driven by global turmoil, after surging 64% in 2025.
Silver Prices Rebound
Silver prices also traded sharply higher. Spot silver price rallied 1.4% to $83.27 per ounce, after falling more than 8% in the last session. Silver prices have risen more than 16% so far this year.
The US dollar strengthened, making dollar-denominated assets such as bullion more expensive for other currency holders.
US President Donald Trump told reporters that the US military had struck numerous Iranian naval and air targets, saying that “just about everything has been knocked out.”
In other commodities, spot platinum price rallied 1% to $2,104.25 per ounce, while palladium gained 0.4% to $1,653.
Stay tuned to our Gold Rate Today Live blog for the latest updates.