From the Indian bullion market to the Multi Commodity Exchange (MCX), gold and silver prices are witnessing a sharp rise today. Precious metal prices jumped by one percent during early trading, generating significant excitement among investors. Gold rose 0.50 percent on the MCX to reach ₹143,607 per 10 grams, while silver jumped 1.11 percent to trade at ₹219,150 per kilogram. This surge in the bullion market has attracted investor attention amid geopolitical tensions and international market fluctuations.
US-Iran tensions and inflation fears impact the market
The main reason behind this sudden surge in gold and silver prices is the ongoing geopolitical tensions between the United States and Iran. The exchange of statements between US President Donald Trump and the Iranian leadership has increased turbulence in global markets. Mixed signals regarding peace talks between the two countries and a surge in energy prices have deepened fears that global inflation could remain elevated for a long time. However, gold has always been considered a safe haven amid financial uncertainties, leading investors to increasingly turn to these precious metals.
Experts reveal key support and resistance levels for gold and silver.
According to market experts and commodity experts, the bullion market’s movement in the coming days will depend on Federal Reserve policies and international cues. Jatin Trivedi, VP Research Analyst at LKP Securities, believes that technically, gold on MCX could fluctuate between ₹142,000 and ₹145,000 in the near future. Meanwhile, according to Manoj Kumar Jain of PrithviFinmart Commodity Research, gold has strong support at Rs 1,42,200 on MCX, while on the upside, it could face resistance around Rs 1,44,500. Similarly, the Rs 2,15,000 level is considered a key support for silver, while on the upside, it could reach targets of up to Rs 2,21,000.