Gold prices traded slightly lower on Thursday, 12 March 2026, morning as a stronger value of US dollar and profit booking pressured the precious metal. On the Multi-Commodity Exchange (MCX), gold April futures slipped 0.10% to Rs. 1,61,660 per 10 grams. While Silver May futures declined 0.57% to Rs. 2,66,969 per kilogram.
The decline in domestic bullion prices is mainly due to weak spot demand and a strengthening US dollar. A higher US dollar value generally makes dollar-denominated commodities more expensive for overseas buyers.
The price of 24K gold decreased by Rs. 109 in early trade, with ten grams of precious metal trading at Rs. 1,62,220. The price of 22K gold also declined by Rs. 100, with ten grams of yellow metal selling at Rs. 1,48,700.
The price of ten grams of 24K gold stood at Rs. 1,62,220 in Mumbai and Kolkata and Rs. 1,63,310 in Chennai. In Delhi, the price of 10 grams of 24K gold was Rs. 1,62,370.
The US dollar index gained around 0.30%, adding pressure to gold prices in markets across the world. A stronger dollar usually reduces the appeal of precious metals as it increases the cost for overseas investors buying bullion.
In international markets, spot gold eased about 0.2% to $5,165.73 per ounce, while US gold futures for April delivery slipped 0.2% to $5,171.40 per ounce.
Analysts note that the rising prices for crude oil are also influencing sentiment. Brent crude recently surged nearly 10% to trade above $100 per barrel. This rise intensifies concerns about inflation all over the world.
Higher risks of inflation may reduce expectations of interest rate cuts by central banks, which can affect the demand for gold in the short term.
Though there is a dip in prices, the safe-haven demand for gold has increased due to ongoing tensions in the Middle East and the increasing aggression between Iran and Israel.
According to media reports, the Trump administration has initiated a new trade investigation against 16 major trading partners, including India, China, and the European Union, targeting excess industrial capacity.
At the same time, President Donald Trump imposed 10% tariffs for 150 days, which have raised concerns about potential disruptions to global trade.
Internationally, gold has support at $5,145 and $5,100, while resistance is at $5,220 and $5,264 per troy ounce, and silver has support at $82.80 and $79.10, while resistance is at $88.00 and $90.40 per troy ounce.
On the MCX, gold has support at Rs. 1,59,800 and Rs. 1,59,000, and resistance at Rs. 1,62,700 and Rs. 1,63,500, while silver has support at Rs. 2,65,500 and Rs. 2,61,600, and resistance at Rs. 2,71,000 and Rs. 2,75,000.