Gold price today: Gold rate on the MCX eased on Thursday (March 12) morning amid profit booking, tepid spot demand, and the dollar’s rise against major peers. However, persisting geopolitical risks and uncertainties over the US tariff policies capped losses for the precious metal.
MCX gold April futures were 0.10% down at ₹₹1,61,660 per 10 grams around 9:15 am. MCX silver May futures were 0.57% down at ₹2,66,969 per kg at that time.
The dollar index rose by 0.30%, making greenback-backed bullion expensive for overseas buyers.
Jigar Trivedi, Senior Research Analyst at IndusInd Securities, noted that gold prices have declined amid surging oil prices, which have heightened inflationary risks and reduced the likelihood of central bank interest rate cuts.
Brent Crude prices jumped 10% to trade above $100 per barrel, as fears of a US-Iran war lasting longer overshadowed a coordinated release of oil reserves by major economies.
(This is a developing story. Please check back for fresh updates.)
