On Wednesday, 4 March, gold and silver prices rose in the domestic market after a sharp fall in the previous trading session amid Middle East tensions. The uptrend was supported by international markets. Investors are turning to safe assets like gold and silver as geopolitical tensions escalate following a series of airstrikes by the United States and Israel on Iran. Gold prices increased by more than Rs 2,000 today, while silver gained over Rs 5,500.
Gold and Silver Prices on MCX
Gold rate on the Multi Commodity Exchange (MCX) rose by Rs 2,157, or over one percent, to Rs 1,63,265 per 10 grams on Wednesday, March 4, 2026. The previous close was Rs 1,61,108 per 10 grams. May silver futures climbed Rs 5,781, or more than 2%, to Rs 2,71,099 per kg. Both metals had declined in Tuesday’s session.
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In the international market, spot gold rose one percent to $5,138.46 an ounce after hitting its lowest level since February 20 in the previous session. US gold futures for April delivery increased 0.5% to $5,147.10 an ounce. After delivering a 64% return in 2025, gold has gained 19% so far in 2026. Spot silver rose 1.4% to $83.27 an ounce after an 8% fall in the last session. Silver has risen more than 16% in 2026.
Analysts say the long-term trend for both metals remains positive, though they advise waiting for some stability before taking new positions. According to Manoj Kumar Jain of Prithvifinmart Commodity Research, gold has support at $5,055–4,984 and resistance at $5,220–5,280. Silver has support at $78.80–74.00 and resistance at $88.00–92.40.
On MCX, gold support stands at Rs 1,59,100–1,57,700 and resistance at Rs 1,63,500–1,65,800 per 10 grams. Silver support is at Rs 2,57,700–2,51,500 and resistance at Rs 2,71,000–2,78,800 per kg. Jigar Trivedi of IndusInd Securities expects April gold futures to reach Rs 1,63,000 and May silver futures to hit Rs 2,70,000.
Gold Prices in Metro Cities (24k and 22k)
Delhi: Rs 1,63,670 (24k), Rs 1,50,031 (22k) per 10 gMumbai: Rs 1,63,950 (24k), Rs 1,50,288 (22k) per 10 gChennai: Rs 1,64,430 (24k), Rs 1,50,728 (22k) per 10 gKolkata: Rs 1,63,730 (24k), Rs 1,50,086 (22k) per 10 gBengaluru: Rs 1,64,080 (24k), Rs 1,50,407 (22k) per 10 g