Gold & Silver Rates Today Live: MCX Gold & Silver Mildly Up, Physical Gold Price Falls; 24K, 22K, 18K Gold

Gold rates and silver rates in India witnessed an uptrend on Tuesday, despite sharp surge in crude oil prices which crossed $115 per barrel mark. However, the upside was limited due to strengthening of dollar and yields. Spot gold traded above $4,650 per ounce, which was steady. While spot silver climbed above $72.7 per ounce.

At MCX, gold price is above Rs 1.50 lakh mark with marginal gains. MCX Silver surged by over Rs 700 to trade above Rs 2.34 lakh per 1Kg mark. On the other hand, physical gold prices in 24 carat, 22 carat and 18 carat continued to fall. 10 grams of 24 carat is down by Rs 820 and is below Rs 1.50 lakh tone. Physical silver price traded flat for the third consecutive day.

The performance also comes ahead of RBI's rate decision, which will be announced on Wednesday.

As per Trading Economics data, investors focused on President Donald Trump's threat to target Iranian civilian infrastructure unless his demands are met, heightening concerns about the economic impact of a prolonged conflict. Trump warned he could strike Iranian power plants and bridges if his conditions are not met by Tuesday 8 p.m. Eastern Time, including the reopening of the Strait of Hormuz. This overshadowed signs that the US and Iran may be moving closer to a ceasefire agreement through mediators. Gold remains down about 12% since the conflict began, as surging energy prices tied to the Iran war fueled inflation fears and increased the likelihood that central banks will delay cutting interest rates or even raise them. Markets now expect the Federal Reserve to keep rates unchanged through the rest of the year, compared with earlier projections of two rate cuts.

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