There was not much change in the prices of gold and silver on Thursday amid increasing tension between America and Iran and uncertainty over the Federal Reserve’s interest rate cut. Investors are balancing between the demand for safe haven and the strong dollar.
What was the situation on MCX?
On Multi Commodity Exchange of India (MCX), gold futures for delivery in April 2026 fell by Rs 271 or 0.14% to open at Rs 1,55,544 per 10 grams. Whereas silver futures for delivery in March 2026 fell by Rs 8,166 or 0.33% to Rs 2,43,452 per kg. From today, MCX and National Stock Exchange of India (NSE) have removed the additional margin imposed on gold and silver futures contracts. MCX has withdrawn 3% additional margin on gold and 7% on silver. Similarly, NSE Clearing Limited has also announced to remove additional margin from February 19.
condition of international market
There was pressure on gold prices due to strengthening of dollar in the foreign market. The dollar hit a one-week high ahead of a key inflation report at the end of the week, making gold expensive for investors in other currencies. Spot gold fell 0.4%, while silver also slipped about 0.5%. In the previous session, a sharp rise was seen in both the metals.
How to trade in gold?
According to Manoj Kumar Jain of Prithvi Finmart, geopolitical concerns have increased due to inconclusive US-Iran and Russia-Ukraine peace talks, which has increased the demand for safe investments. However, there is confusion regarding the cut in interest rates by the Federal Reserve. The minutes of the recent Federal Open Market Committee (FOMC) meeting indicated that most members are in favor of keeping rates stable for now.
According to Jain:
- Gold support is between Rs 1,54,4001,52,200.
- Resistance is between Rs 1,56,8001,59,100.
- Support of silver is Rs 2,38,0002,32,800 and resistance is Rs 2,49,0002,54,400.
- It has been advised to book profits at higher levels and avoid new purchases until the Chinese market opens.
Today’s Physical Gold Rate
Delhi
22 carat gold: Rs 1,13,192 per 8 grams
24 carat gold: Rs 1,23,472 per 8 grams
Mumbai
22 carat gold: Rs 1,13,072 per 8 grams
24 carat gold: Rs 1,23,352 per 8 grams
Chennai
22 carat gold: Rs 1,13,832 per 8 grams
24 carat gold: Rs 1,24,184 per 8 grams
Hyderabad
22 carat gold: Rs 1,13,144 per 8 grams
24 carat gold: Rs 1,23,352 per 8 grams
Overall, amid global tensions and the strength of the dollar, gold and silver are currently trading in a limited range.