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Gold rate today: Amid rising tensions in the US-Iran war following Donald Trump's 48-hour ultimatum to Iran, the WTI Crude oil price today surpassed $100/barrel and touched an intraday high of $101.63 per barrel during Monday trading. The oil price rise fueled the US dollar rate, triggering sharp selling in precious metals, including gold and silver.

The COMEX gold rate today 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.

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.

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.

“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.

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.

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.

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.Asit Manohar has nearly two decades of experience in the mainstream media. In this period, he has served esteemed media organisations like NDTV Profit, The Economic Times, and Zee Business. He has been working at LiveMint Digital since April 2021. During these two decades of journey in mainstream media, Asit has mainly covered external affairs, markets and personal finance. However, his earliest beats include railways, SME, MSME, and politics (Congress beat). Some of his features on political, economic, and foreign policy are documented in the parliamentary records.

While pursuing his MA (Mass Communication, Session 2004-06), Asit began his media career as a stringer at All India Radio in Varanasi. At AIR Varanasi, Asit worked with the Gyanvani, Yuvvani and Vividh Bharti teams. After working for nearly one year at AIR Varanasi, he shifted to print journalism and started working as a stringer for the HT Media Ltd, Varanasi. At HT Media Ltd in Varanasi, he covered the BHU beat.

Asit has also worked with some brokerage houses. He has worked with Religare Broking and India Infoline, where he assisted the research team in developing and executing trade strategies for intraday cash, F&O, and commodities.

Asit is a Gold Medalist in MA (Mass Communication) from BHU, Varanasi. He did his BSc. (Hons) in Mathematics from Magadh University, Bodh Gaya. Asit was a National Talent Scholarship holder during his senior secondary studies (1988-91).

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