Gold prices increased in the domestic futures market on Tuesday, March 17, 2026, with the rising geopolitical tensions in the Middle East and ongoing volatility in the US dollar. On Multi-Commodity Exchange (MCX), Gold April futures climbed 0.81% to Rs. 1,57,000 per 10 grams, while Silver May futures rose 2.3% to Rs. 2,62,426 per kg.
The price of 24K gold increased by Rs. 120 in early trade, with ten grams of precious metal trading at Rs. 1,58,620. The price of 22K gold also increased by Rs. 110, with ten grams of yellow metal selling at Rs. 1,45,400.
The price of ten grams of 24K gold stood at Rs. 1,58,620 in Mumbai and Kolkata and Rs. 1,59,820 in Chennai. In Delhi, the price of 10 grams of 24K gold was Rs. 1,58,770.
The ongoing US-Iran conflict has entered its third week, increasing uncertainty across the Middle East. Reports of drone attacks targeting cities such as Dubai, Abu Dhabi, and Fujairah continue to raise concerns about regional security. The situation escalated further after Dubai International Airport temporarily suspended operations following a drone strike near a fuel storage facility.
The conflict has pushed crude oil prices above $100 per barrel. This has raised concerns about global inflation and overall economic growth. Such geopolitical developments typically increase demand for gold and silver.
Precious metal prices are also reacting to the volatility of the US dollar ahead of the US Federal Reserve’s policy decision scheduled for March 18, 2026.
Market participants expect the Fed to keep interest rates unchanged as policymakers assess the economic impact of rising geopolitical risks and increased energy prices.
Spot gold firmed 0.1% to $5,007.61 per ounce. US gold futures for April delivery rose 0.2% to $5,011.70.
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On MCX, gold has support at Rs. 1,54,000 and Rs. 1,52,800 and resistance at Rs. 1,56,600 and Rs. 1,58,000, while silver has support at Rs. 2,51,500 and Rs. 2,47,700 and resistance at Rs. 2,61,600 and Rs. 2,66,000.
Internationally, gold has support at $4,964 and $4,920, while resistance is at $5,055 and $5,084 per troy ounce, and silver has support at $78 and $74.40, while resistance is at $84 and 86.40 per troy ounce.