Domestic gold and silver prices recorded a sharp increase on Monday, 2 March, amid escalating tensions between Iran and Israel, prompting investors to shift towards safe-haven assets.
In the domestic futures market, gold prices rose by nearly Rs 5,000, while silver also posted substantial gains.
On the Multi Commodity Exchange (MCX), the 2 April 2026 expiry gold futures contract surged by around Rs 5,000 on Monday. Gold opened at Rs 1,65,501 per 10 grams, compared with the previous close of Rs 1,62,104.
At around 10:02 am, gold futures were trading at Rs 1,67,212, up 3.15 percent or approximately Rs 5,108. During early trade, the contract touched a high of Rs 1,67,915.
Silver prices also advanced in futures trade. On MCX, the 5 March 2026 expiry silver contract was trading at Rs 2,84,010 per kilogram, up 3.28 percent or Rs 9,012. The contract opened at Rs 2,78,644 and touched an intraday high of Rs 2,85,978.
In major physical markets, silver prices also moved higher. In Delhi, Kolkata and Mumbai, silver was priced at Rs 3,300 per 10 grams, while 100 grams cost Rs 33,000. In Chennai, silver was priced at Rs 3,150 per 10 grams. Prices vary slightly across cities due to taxes and local levies.
In Delhi, 24-carat gold was priced at Rs 1,73,240 per 10 grams. The 22-carat rate stood at Rs 1,58,810, while 18-carat gold was priced at Rs 1,29,970.
In Mumbai, 24-carat gold was priced at Rs 1,69,800 per 10 grams. The 22-carat rate was Rs 1,55,650 and 18-carat gold was available at Rs 1,27,350.
In Chennai, 24-carat gold reached Rs 1,70,840 per 10 grams. The 22-carat price stood at Rs 1,56,600 and 18-carat gold was priced at Rs 1,34,000.
In Kolkata, 24-carat gold was priced at Rs 1,69,800 per 10 grams, 22-carat at Rs 1,55,650 and 18-carat at Rs 1,27,350.
In Ahmedabad, 24-carat gold was priced at Rs 1,69,850, 22-carat at Rs 1,55,700 and 18-carat at Rs 1,27,400 per 10 grams.
In Lucknow, 24-carat gold stood at Rs 1,69,950, 22-carat at Rs 1,55,800 and 18-carat at Rs 1,27,500 per 10 grams.
In Patna, 24-carat gold was priced at Rs 1,69,850, 22-carat at Rs 1,55,700 and 18-carat at Rs 1,27,400 per 10 grams.
In Hyderabad, 24-carat gold was available at Rs 1,69,800, 22-carat at Rs 1,55,650 and 18-carat at Rs 1,27,350 per 10 grams.
