Gold and silver prices opened slightly lower on the Multi Commodity Exchange of India (MCX) on Thursday as the US dollar strengthened by 0.1%, making dollar-denominated bullion costlier for holders of other currencies. Since gold and silver are priced in dollars globally, a stronger greenback means buyers using other currencies need to spend more to purchase the same ounce.

Investors are now looking ahead to the release of January’s delayed Personal Consumption Expenditures (PCE) index on Friday.

MCX silver futures due May 2026 were down Rs 2,126 or 0.8% to Rs 2,66,362 per kg. Meanwhile, gold futures for April 2026 delivery fell Rs 708 or 0.43% to Rs 1,61,081 per 10 grams.

In the international market, spot gold was down 0.1% at $5,172.86 per ounce as of 0221 GMT, while US gold futures for April delivery remained unchanged at $5,178. Meanwhile, spot silver fell 0.3% to $85.49 per ounce.

How should you trade gold?

“We are witnessing very high volatility in both precious metals. However, silver prices could hold their support level of $74.00 per troy ounce, while gold may sustain its support at $4,940 per troy ounce on a closing basis this week. We expect gold and silver to remain volatile amid fluctuations in the dollar index, the US-Iran war, and sharp moves in crude oil prices,” said Manoj Kumar Jain of Prithvi Finmart.

He said gold has support at $5,145 to $5,100 and resistance at $5,220 to $5,264 per troy ounce. Silver, meanwhile, has support at $82.80 to $79.10 and resistance at $88.00 to $90.40 per troy ounce in today’s session.
On the Multi Commodity Exchange of India, gold has support at Rs 1,59,800 to Rs 1,59,000 and resistance at Rs 1,62,700 to Rs 1,63,500, while silver has support at Rs 2,65,500 to Rs 2,61,600 and resistance at Rs 2,71,000 to Rs 2,75,000. Jain advised investors to wait for some stability in the markets before initiating fresh positions.

Gold, silver rates today, 12 March 2026, across major cities

Gold price today in Delhi

Standard gold (22 carat) prices in Delhi stand at Rs 1,19,888 per 8 grams, while pure gold (24 carat) prices stand at Rs 1,30,776 per 8 grams.

Gold price today in Mumbai

Standard gold (22 carat) prices in Mumbai stand at Rs 1,19,768 per 8 grams, while pure gold (24 carat) prices stand at Rs 1,30,656 per 8 grams.

Gold price today in Chennai

Standard gold (22 carat) prices in Chennai stand at Rs 1,20,968 per 8 grams, while pure gold (24 carat) prices stand at Rs 1,31,968 per 8 grams.

Gold price today in Hyderabad
Standard gold (22 carat) prices in Hyderabad stand at Rs 1,19,768 per 8 grams, while pure gold (24 carat) prices stand at Rs 1,30,656 per 8 grams.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)