Gold climbs amid tensions in Middle East, check prices in India| India News

Updated on: Mar 02, 2026 9:55:55 AM IST

Gold, silver rate today LIVE updates: Gold prices climbed on Monday after the United States and Israel carried out major strikes on Iran, killing Supreme Leader Ayatollah Ali Khamenei, a development that sharply escalated geopolitical tensions and added to global economic uncertainty. Spot gold rose 1% to $5,329.39 an ounce by 0201 GMT, after touching its highest level in over four weeks. Prices had gained as much as 2% earlier in the session. U.S. gold futures advanced 1.8% to $5,342.80 an ounce, news agency Reuters reported. Spot silver slipped 1.2% to $92.72 an ounce, after posting a monthly gain in February.

How has gold performed lately?

Gold, widely regarded as a safe-haven asset, has already hit multiple record highs this year amid persistent political and economic uncertainty. The current rally extends a 64% surge in 2025, fuelled by strong central bank purchases, heavy inflows into exchange-traded funds and expectations that U.S. monetary policy may ease.

What do analysts forecast?

Last week, J.P. Morgan and Bank of America reiterated forecasts that gold could rise toward the $6,000 mark. J.P. Morgan said it expects sufficient demand from central banks and investors to push prices to around $6,300 an ounce by the end of 2026, as per Reuters.

Gold is perhaps the finest barometer of global uncertainty, and the mercury is rising, said independent analyst Ross Norman, adding that prices could be repriced to fresh record levels as geopolitical risks intensify.

Gold rates today in India (as per yesterday’s market close)

24-carat gold (10 grams): ₹1,68,990

22-carat gold (10 grams): ₹1,54,930

Gold prices in major metro cities today (24-k gold, per 10 grams, as per yesterday’s market close)

Bengaluru: ₹1,68,820

Chennai: ₹1,69,750

Delhi: ₹1,68,990

Kolkata: ₹1,68,830

Mumbai: ₹1,68,850

Pune: ₹1,68,870

Silver rates today in India (as per yesterday’s market close)

10 grams: ₹3,120

100 grams: ₹3,1200

1 kg: ₹3,12,000

Silver prices in metro cities (per 10 grams, as per yesterday’s market close)

Bengaluru: ₹3,060

Chennai: ₹3,340

Delhi: ₹3,120

Kolkata: ₹3,070

Mumbai: ₹3,110

Pune: ₹3,130

Silver demand and pricing in India

Beyond industrial use, silver is widely used in jewellery. India is the world’s largest consumer and a major importer of silver, and domestic demand plays a key role in supporting global prices. Along with import duties and taxes, international benchmarks strongly influence local silver rates. Like gold, silver is also viewed as an investment option.

Gold demand and pricing in India

India is the world’s second-largest consumer of gold after China. Most of its demand is met through imports, along with recycled domestic bullion. As a result, global dollar-denominated prices, import duties and taxes significantly influence local rates. While gold is often seen as a hedge against inflation, bond yields and currency movements also affect prices.

Why invest in gold?

Gold is widely regarded as a safe and reliable investment during periods of economic and geopolitical uncertainty. It offers strong liquidity, acts as a hedge against inflation and helps stabilise portfolios over the long term.

Why invest in silver?

Silver remains attractive due to its dual role as a precious and industrial metal. Strong demand from India’s jewellery sector, combined with industrial usage and supply constraints, supports its long-term outlook, while its lower price makes it more accessible than gold for many investors.

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