Gold Rate Today: Domestic Prices Ease ₹10 While Global Gold Surges on Middle East Tensions

While there is a general increase in world gold prices due to geopolitical tensions, Indian precious metal markets saw mixed movements on Monday, with 24-carat gold showing a minor fall while prices of silver dipped. 

Gold, Silver Prices Edge Lower; 24-Carat Gold at ₹1,01,670, Silver Falls ₹100

Gold prices saw a marginal dip in early domestic trade on Monday. The rate of 24-carat gold fell by ₹10 to ₹1,01,670 per 10 grams, while in Delhi, prices were slightly higher at ₹1,01,820. Major metros including Mumbai, Kolkata, and Chennai reported gold at ₹1,01,670.

22-carat gold also eased by ₹10, now priced at ₹93,190 per 10 grams across most key markets including Mumbai, Kolkata, Bengaluru, Chennai, and Hyderabad. Delhi continued to trade higher at ₹93,340.

Silver prices dropped by ₹100 per kilogram, with 1 kg of silver priced at ₹1,09,900 in Delhi, Mumbai, and Kolkata, while Chennai reported a premium rate of ₹1,19,900 per kg.

Despite the slight correction, elevated global uncertainty and rising safe-haven demand continue to keep precious metals at historically high levels.

Gold Nears 2-Month High Globally as Middle East Conflict Escalates

Global gold prices climbed on Monday, approaching a two-month high as investors flocked to safe-haven assets amid escalating military conflict between Israel and Iran, sparking fears of a broader regional war. Spot gold rose 0.4% to $3,447.07 per ounce, touching its highest level since April 22 during early trade. US gold futures mirrored the move, gaining 0.4% to $3,467.20 per ounce.

Meanwhile, spot silver dipped 0.2% to $36.23 per ounce, while platinum and palladium rose 0.6% and 0.9%, trading at $1,234.47 and $1,036.58 per ounce, respectively.

As geopolitical tensions mount, some analysts forecast that gold could potentially test the $4,000 mark per ounce in the coming quarters. However, in India, a shift in retail investor behaviour is evident—with more capital now flowing into equities and market-linked products over traditional gold purchases.

Despite this shift, gold-linked financial stocks have surged. Manappuram Finance hit an all-time high, and Muthoot Finance also saw notable gains, reflecting sustained interest in gold-backed lending businesses.

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