Gold Rates Today In India Surge, Silver Rates Rally Too; Why Are MCX Gold & Silver Prices Up On March 5, 2026?

Gold rates and silver rates surged on March 5, tracking the performance of international precious metals. MCX gold is near Rs 1.63 lakh per 10 grams and MCX silver rate surged by over 3.3% to hit above Rs 2.74 lakh mark. The crisis in Middle East continues as the war between US-Israel and Iran enters its sixth day.

MCX Gold Price Today:

At the time of writing, MCX gold price with April 2026 expiry traded at Rs 1,62,334 per 10 grams, higher by Rs 809 or 0.50%. The bullion touched an intraday high of Rs 1,63,142 per 10 grams, compared to its previous day's closing of Rs 1,61,525 per 10 grams.

MCX Silver Price Today:

MCX silver with May 2026 expiry held above Rs 2.70 lakh per 1Kg mark. At the time of writing, MCX silver traded higher by Rs 4,740 or 1.8% to trade at Rs 2,70,300 per 1Kg. This precious metal has touched an intraday high of Rs 2,74,251 per 1Kg, higher from Rs 2,65,560 per 1Kg of the previous day.

What Is Impacting Gold & Silver Rates Today?

According to Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities, gold remained highly volatile as CME prices saw a sharp sell-off from $5,400 to $5,000, before finding support and recovering towards $5,200.

He added that MCX Gold mirrored the swings, trading in a wide Rs 1,59,000-Rs 1,70,000 range and currently near Rs 1,64,000.

"Volatility is expected to remain elevated due to the ongoing Western Asia conflict and failed US-Iran nuclear talks, which continue to keep uncertainty high in global markets," the analyst said.

Should You Buy Gold & Silver?

Analysts at Nirmal Bang in their report dated March 5, said, "Gold prices are expected to pullback. One can sell at 164000 with a stop loss of 165500 for the target at 162000-160000."

In case of silver, analysts added that silver prices are expected to pullback. Traders can sell at 273000 with a stop loss of 280000 for the target at 263000-258000.

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