Gold, Silver Rate Today (Mar. 3) – Live Updates: Gold, silver extend pullback after US-Iran-Israel conflict-driven rally; Comex gold at $5,213, silver slides over 7%

Comex gold was trading 1.84 percent lower at $5,213.90 per ounce, while Comex silver declined 7.47 percent to $82.22 per ounce as of 06:09 pm IST (12:39 PM GMT) on March 3, 2026. Precious metals remain under pressure as traders continue profit-booking following the recent geopolitical rally, even as the ongoing US–Israel–Iran tensions keep the broader safe-haven narrative intact. Market participants are also tracking dollar strength and upcoming US macro cues, which could drive near-term volatility in bullion.

As of 04:57 pm IST on March 3, 2026, Comex gold dropped 2.15 percent to $5,197.30 per ounce, while Comex silver plunged 8.94 percent to $80.91 per ounce. The sharp decline comes amid aggressive profit-booking after the recent geopolitical-led surge tied to the US–Israel–Iran tensions. While safe-haven demand had earlier lifted bullion, traders are now unwinding positions as the dollar firms and markets reassess the immediate risk premium. Despite the steep correction—especially in silver—ongoing Middle East uncertainty is expected to keep volatility elevated in precious metals.

Gold loans function much like other retail loans offering quick disbursal, minimal paperwork and flexible repayment options. What distinguishes them, however, is the collateral: physical gold whose value moves in line with market prices.

That market value has been on a sharp upswing. Gold loans have surged in recent years, with Reserve Bank of India (RBI) data showing outstanding gold loans jumping nearly 128 percent year-on-year to over Rs 3.3 lakh crore by late 2025, even as overall bank credit growth remained in single digits. (Read more here)

Comex gold was trading at $5,308.20 per ounce, down 0.06 percent, while Comex silver fell sharply 4.30 percent to $85.03 per ounce as of 02:55 pm IST (09:25 AM GMT) on March 3, 2026. Precious metals are witnessing mild profit-booking after the recent geopolitical-driven rally linked to escalating tensions involving the US, Israel and Iran. While safe-haven demand had earlier pushed gold to elevated levels, the latest pullback suggests some unwinding of risk premiums and a stronger dollar weighing on silver in particular. However, persistent Middle East uncertainty continues to keep downside limited for gold even as volatility remains elevated across bullion markets.

As of Tuesday, March 3, 2026, at 13:54 IST, Comex gold is trading at $5,334.60 per ounce, up 0.43%. Comex silver, however, declined 2.14% to $86.95 per ounce, indicating mixed momentum in precious metals during early global trading hours.

The international spot price of silver has declined 2.94 percent on Comex at $86.24 per ounce on March 3, 2026. The white metal has retreated from daily highs as investors rushed to book profits, following a massive rally. The metal had surged past $90 in the early trade. It also follows the dollar's strength, which was trading at 91.917 as of 12:49 pm IST.

The Augmont Bullion Report, published on March 2, noted gold's decisive break above the key resistance level of $5,250 (Rs 1.60 lakh). The precious metal is now targeting $5,450 (Rs 1.70 lakh), followed by $5,600 (Rs 1.80 lakh) in the near term. The breakout signals renewed bullish momentum, with strong technical support now placed at $5,200 (Rs 1.58 lakh). "As long as prices sustain above this zone, dips are likely to attract fresh buying interest." The spot gold was trading at $5,358.20 per ounce during the morning trade on Tuesday, up 0.88% from previous close.

Gold and silver prices are on an upward trajectory, driven by safe-haven demand as conflict in West Asia escalates. The international spot price of gold moved 1.25 percent higher at $5,377.90 per ounce during early trade on Comex, and silver surged past $90 per ounce, up 1.65 percent . Investors await the MCX trade to open after Holi. The domestic futures gold closed the Monday's session 2.53 percent higher at Rs 1,66,199 per 10 grams, whereas silver declined marginally to 0.9 percent at Rs 2,80,090 per kilogram. The Indian Bullion Jewellers Association (IBJA) pegged the standard price of gold at Rs 1,67,471 per 10 grams, and silver at Rs 2,89,848 per kilogram in their evening trade.

Escalating war-like developments across the Middle East have intensified safe-haven demand, keeping bullion firmly bid despite already elevated levels. According to Jateen Trivedi, VP Research Analyst (Commodity and Currency) at LKP Securities, the week ahead remains data-heavy for the US, with manufacturing and non-manufacturing PMI, ADP non-farm employment change and unemployment data lined up, all of which could inject further volatility into prices as participants reassess Fed policy expectations. "Technically, gold maintains a strong bullish structure as long as it holds above Rs 1,64,000, which now acts as a crucial support zone. On the higher side, Rs 1,72,000 remains the immediate resistance; a sustained break above this level could open the path for further upside momentum. Volatility is expected to stay elevated given geopolitical risks and macro data triggers."

The spot price of gold was up 1.22 percent at $5,376.30 per ounce during early trade on Comex, and silver surged 1.16 percent at $89.88 per ounce. Market is expected to remain volatile amid the US-Israel-Iran conflict. Investors await MCX prices when it opens after Holi. The domestic futures gold closed the Monday's session 2.53 percent higher at Rs 1,66,199 per 10 grams on MCX, whereas silver marginally declined 0.9 percent.

Gold and silver prices on March 3 continue to surge in both national and international markets, fueled by the escalation of tensions between the US, Israel, and Iran. The international spot price of gold was trading 1.04 percent higher at $5,366.60 per ounce during the early trade, while silver was up 0.91 percent at $89.66. The domestic futures gold on MCX closed the session 2.53 percent higher at Rs 1,66,199 per 10 grams, whereas silver marginally declined 0.9 percent.