Gold price today: Tops Rs 1.60 lakh on MCX; outlook and levels to monitor

• Gold prices rise due to geopolitical tensions and strong dollar
• MCX gold opens at Rs 1,60,794 per 10g, up 0.52 percent
• Volatility expected as US–Iran talks and trade issues unfold

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Gold prices are trading marginally higher on February 25, amid geopolitical tensions and a firmer dollar.

The domestic futures price of gold on MCX opened the Wednesday session higher at Rs 1,60,794 per 10 grams of 24-carat purity, up 0.52 percent from the previous close.

The spot price of gold on Comex crossed $5,204 during the early trade, representing a 0.54 percent gain in the last 24 hours.

The Indian Bullion Jewellers Association (IBJA) has pegged the standard gold price at Rs 1,59,503 per 10 grams of 999 purity on their afternoon trade on February 24, up 0.68 percent from the previous close.

Optimism over possible US–Iran talks on Thursday has slightly cooled risk premium, keeping prices capped at higher levels.  Volatility is expected to stay elevated given ongoing geopolitical developments, as any escalation or breakdown in talks could quickly revive safe-haven buying.

Meanwhile, the rupee traded at 90.89 against the US dollar in early trade on Wednesday. Analysts estimate that immediate resistance lies near 90.50, while support is around 91.25, with further direction likely to depend on clarity over trade negotiations and the dollar index.

City-wise gold prices in India today

Gold rates across India’s major cities showed remarkable uniformity, with only marginal differences due to local taxes, jeweller margins, and logistics costs.

Why are gold prices rising? Should you invest?

Market participants are closely tracking the US trade developments. The earlier 18 percent tariff framework could be adjusted following the US court order, but uncertainty remains, as President Trump hinted at consequences if countries alter previously negotiated terms. This keeps sentiment cautious and prevents aggressive positioning in the currency.

The Augmont report, published on February 24, noted that gold and silver surged to a three-week high, buoyed by fresh safe-haven buying. Investor sentiment turned cautious after US President Donald Trump strongly responded to a court ruling and announced a blanket 15 percent tariff on imports, the highest allowed under the law, while asserting that trade agreements with nearly 20 countries would remain unaffected.

The report added that gold has met its $5,200 (Rs 1,60,000) target and that a technical breakout signals renewed bullish momentum, with the next resistance levels at $5,300 (Rs 1,63,000) and $5,400 (Rs 1,66,000).