Gold rate today, 12 May 2026: Following global economic uncertainty amid the US-Iran war, the MCX gold rate extended the bull trend during the early morning session on Tuesday. The MCX gold price today opened with an upside gap at ₹1,53,999 per 10 gm and touched an intraday high of ₹1,54,243 per 10 gm within a few minutes of the Opening Bell, logging an intraday gain of ₹580 per 10 gm. The COMEX gold rate is oscillating around $4,730 per ounce, signalling a flat-to-positive trend in the international market.
According to experts, the gold rate today is in a bull trend due to uncertainty creeping into the global economy following the escalation of the US-Iran war. They said that the MCX gold rate is facing a hurdle at ₹1,55,00. Breaking above this resistance, the precious yellow metal may try to test the next resistance levels at ₹1,60,000 and ₹1,65,000. In the international market, the COMEX gold rate may test the $4,750 and $4,800 per ounce levels if the yellow metal sustains above $4,680.
Gold Rate Today: Why is the yellow metal rising?
Speaking on the outlook for the gold price today, Anuj Gupta, a SEBI-registered market expert, said the gold price is rising amid increased safe-haven demand following the fresh escalation in the US-Iran war. They said uncertainty has gripped the global economy, fueling demand for the precious yellow metal.
“MCX gold rate is in the ₹1,48,000 to ₹1,55,000 per 10 gm range. Breaking above the ₹1,55,000 hurdle, the precious metal may try to test the ₹1,60,000 per 10 gm level in the near term. In the international market, the COMEX gold has immediate support placed at $4,680/oz. If the yellow metal sustains above this support, we can expect the COMEX gold rate to touch $4,750 and $4,800/oz soon,” said Anuj Gupta.
Gold Price Today: US dollar in focus
Ravi Singh, Chief Research Officer (Research) at Master Capital Services, believes that the gold price today is rising as the metal capitalises on its recent breakout. This advance reinforces the bullish structure, with prices now holding firmly above the 153,000 level. Technical positioning remains robust; the contract continues to trade above significant short-term moving averages, confirming a strong “buy on dips” sentiment.
The Master Capital Services expert said that a softer U.S. dollar has increased the appeal of gold for international buyers, while stable Treasury yields provide a favourable backdrop for non-yielding assets. Additionally, persistent geopolitical instability in the Middle East continues to drive safe-haven demand, providing a solid floor for prices amid broader market uncertainty.
“The Relative Strength Index (RSI) has moved higher in tandem with price action but remains below overbought thresholds, leaving room for further appreciation. While immediate support has shifted toward the 152,000 zone, the next major overhead resistance is pegged at 155,300. Market participants are monitoring price sustainability at these levels to validate a potential move toward higher targets,” said Ravi Singh of Master Capital Services.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.