HUGE Jump In Gold Rate In India, 24K Shoots Rs 1.20 Lakh/100 Gm In 3 Days Amid US, Israel Attacks on Iran

Gold Rate in India: Prices of 24-karat, 22-karat and 18-karat gold extended their rally for a third consecutive session on Sunday, surging sharply as ongoing US-Israel strikes on Iran heightened geopolitical tensions. The spike in domestic gold rates today tracked strong gains in the international commodities market, where bullion continued to attract safe-haven demand amid escalating Middle East uncertainty and Iran Supreme Leader Ayatollah Ali Khamenei's killings.

The surge in gold and silver rate in India today came days of price correction in the precious metals after January's record jump. Here are latest gold and silver rates in India on Sunday, March 1.

Gold Rate in India

The price of 24 karat gold in India jumped by Rs 437 per gram to Rs 17,308 per gram on Sunday, March 1. The rate of 22 karat gold in India surged by Rs 402 per gram to Rs 15,865 per gram. The rate of 18 karat gold in India increased by Rs 328 per gram to Rs 12,981 per gram.

The price of 24 karat gold in India has jumped by Rs 1,20,000 per 100 grams in last three days. The rate of 24 karat gold in India stood at Rs 16,10,200 per 100 grams on Feb 26, and jumped to Rs 17,30,800 per 100 grams on March 1.

Silver Rate in India

Silver rate in India remained stable on Sunday, March 1. The price of silver in India stood at Rs 295 per gram and Rs 2,95,000 per kilogram on Sunday. Silver showcased massive volatility in the last two months, with prices jumping above Rs 4 lakh per kilogram in January and then dipping below Rs 3 lakh in February.

Gold Rally Amid US, Israel Attack on Iran

While domestic gold prices jumped significantly on Sunday, gold and silver rates on MCX and Comex remained unchanged due to weekend holiday. The international gold rate jumped nearly 1% to above $5,220 per ounce on Fridaym, as per Trading Economics. Strong momentum in gold prices came amid concerns of US trade policy, whereas the development related to US,Israel strikes on Iran is also likely to weigh investors' sentiment.

United States President Donald Trump on Saturday announced the death of Iran's supreme leader Ayatollah Ali Khamenei. The state-run Iran media agency, IRNA news, also confirmed Khamenei's death, which sparked further escalation of tensions in the Middle East.

"US-Iran tensions can add a further risk premium, particularly to gold, as energy market instability and Middle East uncertainty tend to boost flows towards hedging assets. Such geopolitical issues typically create short-term volatility spikes rather than sustained trends unless they evolve into prolonged supply disruptions or broader regional conflict," stated Ross Maxwell, Global Strategy Operations Lead, VT Markets.

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