Gold rate today: Amid rising tensions in the following Donald Trump’s 48-hour ultimatum to Iran, the WTI Crude surpassed $100/barrel and touched an intraday high of $101.63 per barrel during Monday trading. The oil price rise fueled the , triggering sharp selling in precious metals, including gold and silver.
The COMEX opened with a downside gap and touched an intraday low of $4,128 per troy ounce, logging an intraday loss of more than 10%. Likewise, the MCX gold rate today opened with a downside gap at ₹1,40,158 per 10 gm and touched an intraday low of ₹1,29,595 per gm within a few minutes of the Opening Bell on the Multi Commodity Exchange, aka MCX. After slipping below the ₹1.30 lakh per 10 gm mark, the precious yellow metal crashed by over 10% in India on Monday.
According to market experts, the gold price is under pressure amid the escalation of the US-Iran war. They said tensions in the Middle East around the Strait of Hormuz have fueled crude oil prices, which have surged by more than 60% in a month, and that the WTI crude oil price today hit $100. Market experts believe that rising crude oil prices are strengthening the US dollar, as the US Dollar index has approached 100, up from around 96 before the US-Iran war.
Gold price today: What’s dragging the yellow metal?
On the reasons that are dragging the gold rate today, Sugandha Sachdeva, Founder of SS WealthStreet, said that gold prices are navigating a complex macro environment where geopolitical escalation and monetary tightening expectations are pulling in opposite directions. Sugandha said that heightened tensions in the Middle East have fueled the energy crisis, eroding the chances of a US Fed rate cut in the near term. This has enabled the US Dollar to gain against the major global currencies. In short, crude and US dollar rates are moving in the same direction, while the gold rate today is moving in the opposite direction to the crude oil price and the US dollar rate.
Dent to US Fed rate cut hopes
The SS WealthStreet expert said that global central banks have adopted a more cautious stance and, in some cases, a hawkish one. The U.S. Federal Reserve has acknowledged that the inflationary impact of the conflict remains highly uncertain, prompting a recalibration of rate expectations for 2026. While markets had earlier priced in rate cuts, the narrative has shifted to “higher-for-longer” interest rates, with the possibility of rate hikes if inflationary pressures persist. Other major central banks, including the ECB, Bank of Japan, and Bank of England, also appear to be leaning toward tighter monetary conditions.
US dollar gains strength
“This evolving rate outlook has strengthened the US dollar index, which has rallied sharply from around 95.50 to above 100 levels in recent weeks. The stronger dollar, coupled with rising U.S. yields, has weighed on gold prices, despite heightened geopolitical risks,” Sugandha added.
Key levels for the COMEX gold rate today
Expecting the selling pressure to continue, Ponmudi R, CEO of Enrich Money, said the broader trend remains bearish, and ongoing geopolitical tensions are providing intermittent safe-haven support, preventing a deeper downside in the immediate term. On the upside, the $4,400–$4,500 range remains a critical resistance band.
“A sustained move above $4,650 could extend the rally toward $4,850–$4,900, where stronger supply is expected. On the downside, a break below $4,250 could accelerate weakness toward $4,100–$4,150. The structure remains cautious as long as prices trade below key resistance zones,” Ponmudi of Enrich Money said.
Key levels for the MCX gold rate today
The Enrich Money expert said the MCX gold rate today reflects limited recovery strength. He said the MCX gold rate has broken below the crucial support of ₹1,35,000 and has also broken below ₹1,30,000, hitting an intraday low of ₹1,29,595.
“The MCX gold rate today broke down below ₹1,35,000 and the precious yellow metal may try to come close to its next support placed at ₹1,27,000 per 10 gm,” Sugandha Sachdeva of SS WealthStreet said.
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