Gold & Silver Rates Today Rise Nearly 1%: MCX Gold Trades at Rs 1.44 Lakh; Check Latest Bullion Prices

Gold rates moved higher on Monday, as investors returned to safe-haven assets following continued uncertainty surrounding the geopolitical situation in the Middle East. Although crude oil prices dropped sharply after the US and Iran paused military strikes over the weekend, lingering concerns over regional stability kept demand for bullion firm.

Gold & Silver Prices Today Jump Nearly 1% Amid Middle East Tensions and Weak US Dollar

At the same time, a weaker US dollar made gold more attractive for overseas buyers, while market participants also remained focused on the upcoming US Federal Reserve policy decision for fresh cues on interest rates.

MCX Gold Price Today; Check Latest Gold Rate Trends

Gold prices traded firmly higher in the domestic futures market on Monday, supported by renewed safe-haven buying amid lingering geopolitical uncertainty and a softer US dollar. On the Multi Commodity Exchange (MCX), gold futures (August 5, 2026 expiry) were trading at Rs 1,44,000 per 10 grams at around 10:29 am IST, up Rs 894, or 0.62%, from the previous close of Rs 1,43,106.

The contract opened at Rs 1,43,575, while the spot gold price stood at Rs 75,340 per 10 grams. Markets are now awaiting the US Federal Reserve's policy announcement, which is expected to play a crucial role in determining the next direction for gold prices.

"Markets now await next week's Fed meeting, where rates are expected to stay unchanged, though an 81% chance of a September hike is being priced in. Technically, Gold's key support and resistance levels sit near $4,000 and $4,200, while Silver's crucial zones are $55 and $63, determining the metals' next major moves," said Mr. Prithviraj Kothari, Managing Director at RiddiSiddhi Bullions Ltd., President of IBJA.

MCX Silver Rate Today

On the MCX, silver futures (September 4, 2026 expiry) rose to Rs 2,24,322 per kg at around 10:29 am IST, gaining Rs 2,184, or 0.98%, over the previous close of Rs 2,22,138. The contract opened at Rs 2,23,500 per kg, while the spot silver price was quoted at Rs 90,951 per kg, supported by improving sentiment in the broader bullion market.

The decline in oil prices also contributed to improved sentiment across precious metals. Brent and WTI crude fell more than 5% after reports suggested both Washington and Tehran had temporarily paused military action, easing immediate fears of supply disruptions. However, despite softer oil prices reducing inflation concerns, investors continued to favour gold as uncertainty over the broader geopolitical outlook persisted.

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