Gold, Silver Rate Today (Mar 12) – Live Updates: Bullions rebound; silver inched up 1.2% to Rs 2,71,51 per kg, gold traded at Rs 1,61,721 per 10g

Gold traded slightly lower in the evening session on March 12 (17:52 IST), while silver continued to hold firm gains. On the MCX, gold was at Rs 1,61,690 per 10 grams, down Rs 99 or 0.06% from the previous close of Rs 1,61,789. Silver remained stronger, rising Rs 4,010 or 1.49% to Rs 2,72,501 per kg, compared with the previous close of Rs 2,68,491. In global markets, Comex gold traded at $5,183.40 per ounce, up 0.08%, while Comex silver gained 2.03% to $87.275 per ounce, reflecting stronger buying momentum in silver compared with gold.

Gold traded slightly higher with mild gains as markets turned cautious ahead of key US macroeconomic data, according to Jateen Trivedi, VP Research Analyst – Commodity and Currency at LKP Securities. Trivedi said gold was quoting near Rs 1,62,100 on MCX, up about 0.20%, while CME gold hovered around $5,185 with similar gains. Investors are closely tracking upcoming US data including weekly Initial Jobless Claims, the Core PCE Price Index, and GDP numbers, which could shape expectations around the Federal Reserve’s interest rate outlook. Technically, support is placed near Rs 1,60,500, while resistance is seen around Rs 1,63,500, with volatility likely to increase as the data releases approach.

Rising tensions involving Iran, United States and Israel could support precious metals as investors seek safe-haven assets, according to VT Markets. Ross Maxwell of the firm noted that geopolitical risks and rising energy prices often drive flows into gold, which investors typically view as a hedge during periods of uncertainty and inflation fears. silver tends to follow gold’s direction but often sees sharper price moves due to its dual role as both a precious and industrial metal. He added that if energy prices remain elevated due to disruptions near the Strait of Hormuz, inflation concerns could strengthen safe-haven demand for bullion.

Gold and silver extended gains in the afternoon session on March 12 (15:41 IST), tracking firmness in global bullion markets. On the MCX, gold was trading at Rs 1,62,180 per 10 grams, up Rs 391 or 0.24% from the previous close of Rs 1,61,789. Silver rose sharply, gaining Rs 5,759 or 2.14% to Rs 2,74,250 per kg, compared with Rs 2,68,491 previously. In international markets, Comex gold was at $5,191.20 per ounce, up 0.23%, while Comex silver climbed 2.06% to $87.300 per ounce, reflecting stronger buying momentum in the precious metals space.

According to a technical outlook in a report by Augmont, gold continues to maintain a bullish bias with prices expected to move toward $5,250–$5,300 (around Rs 1,63,500–Rs 1,65,000) in the near term. Strong support is seen near $5,000 (around Rs 1,58,500), which could act as a key buying zone on corrective dips. Silver also remains firmly supported after reaching the $90 level and is expected to target $95 (around Rs 2,85,000). On the downside, strong support is placed near $80 (around Rs 2,60,000), suggesting that any short-term correction may attract fresh buying interest.

Gold and silver traded higher on March 12 at around 14:11 IST, tracking gains in global bullion markets. On the MCX, gold was at Rs 1,61,990 per 10 grams, up Rs 201 or 0.12% from the previous close of Rs 1,61,789. Silver rose sharply, climbing Rs 4,856 or 1.81% to Rs 2,73,347 per kg, compared with Rs 2,68,491 previously. In international markets, Comex gold was trading at $5,190.80 per ounce, up 0.15%, while Comex silver gained 1.95% to $87.205 per ounce, reflecting renewed buying interest in precious metals.

The India Bullion & Jewellers Association (IBJA) fixed the benchmark gold (999 purity) price at Rs 1,59,624 per 10 grams in its March 12 morning rate session. Gold of 995 purity was quoted at Rs 1,58,985 per 10 grams, while silver (999 purity) was pegged at Rs 2,63,800 per kg. IBJA calculates these benchmark rates based on the average price of gold and silver from leading bullion dealers across the country.

Precious metals are facing macroeconomic headwinds even as geopolitical tensions intensify, according to a report by Augmont dated March 12. The report noted that gold has come under pressure as a stronger US dollar and rising Treasury yields reduced the appeal of non-yielding assets. Meanwhile, tensions in West Asia escalated after Iran’s Islamic Revolutionary Guard Corps reportedly launched a joint operation with Hezbollah, while attacks on oil tankers in the Persian Gulf pushed crude prices up more than 6%. At the same time, US inflation remains elevated, with U.S. Bureau of Labor Statistics data showing CPI at 3.1% annually, keeping expectations of near-term rate cuts limited.

Precious metals marginally rebound from early lows amid heightened tensions over the Iran War. MCX futures silver inched up 1.2 percent at Rs 2,71,715 per kg. Gold traded at Rs 1,61,721 per 10g, though a decline of 0.04 percent from the previous session. The international spot gold traded marginally higher at $5,166 per ounce, and silver at $85 per ounce. The market has been volatile amid the Strait of Hormuz shutdown due to the escalating Iran War. Amid the volatility, Sensex was down pts and Nifty at 23750 pts.

The domestic silver futures declined 0.56% to Rs 2.67L/kg from their previous close, as of 10:45 am IST. According to Aksha Kamboj, Vice President, IBJA, silver is correcting from its previous session. "This is due to the recent sharp move in the metal. This correction is due to some profit-booking, but the metal still has its eyes firmly fixed on its position as both an investment and an industrial metal. For investors willing to take on slightly higher volatility, silver may offer stronger upside potential compared to gold." IBJA pegged the standard price of silver at Rs 2,66,010/kg at its 18:30 session on March 11, down 1.82% from its previous session.

Aksha Kamboj, Vice President of IBJA, estimates that gold is holding steady as compared to the previous session. "Investors are still cautious, despite the metal's continued safe-haven appeal. Markets are balancing risk sentiment and policy expectations, which has led the metal to consolidate around its current level." IBJA pegged the standard price of gold at Rs 1,60,230 at its 18:30 session on Wednesday. On MCX Thursday, the futures domestic price of gold dipped 0.25% at Rs 1,61,384/10g from its previous close, as of 10:45 am IST.

Gold and silver prices continue to trade in negative territory amid the Iran war, while Brent crude is bouncing back to $100 levels, boosting the US dollar's strength. Gold futures on MCX traded 0.26% lower at Rs 1,61,375 per 10g of 24-carat purity, while silver declined 0.63% to Rs 2,67,180 per kg from its previous close, as of 9:42 am IST.

Bullions continue to trade weakly amid the Iran war, with Brent crude bouncing back to $100 levels. Gold futures on MCX traded 0.17 percent lower at Rs 1,61,518 per 10 gram of 24-carat purity, while silver declined 0.49 percent to Rs 2,67,180 per kilogram, as of 9:42 am IST.

Precious metals' prices opened marginally lower on early Thursday trade amid heightened tensions over the Iran war, which continues to block one-fourth of the world's oil consumption, boosting the US dollar. The domestic futures gold traded 0.29 per cent lower at Rs 1,61,327 per 10 grams, while silver declined 0.52 per cent to Rs 2,67,100 per kilogram.

Precious metals' prices were trading marginally lower as the Iran War continues to threaten global oil supply. The spot price of gold on early March 12 trade was 0.04% lower at $5,177/oz, and silver 0.11% at $85.62/oz. The MCX domestic gold futures closed the Wednesday trade 0.11% higher at Rs 1,61,967/10g, and silver gained 0.27% to Rs 2,69,211/kg.