Gold price on MCX, April 1: Yellow metal rises 1% amid mixed global cues, silver trades ₹729/kg lower

Gold prices on the Multi-Commodity Exchange (MCX) was trading higher during the morning market session on Wednesday, April 1, 2026, due to the mixed global cues and a lower US dollar rate, prompting the demand for precious metals among other safe-haven assets.

After the commodity markets reopened for trading on April 1, the gold prices surged to their intraday high of ₹1,52,452 per 10 grams, while the silver prices were witnessing a volatile market session as the commodity briefly crossed into the green zone before dropping again into the red.

As of 11:26 am, the gold prices were trading 0.96% or ₹1,448 per 10 grams higher at ₹1,52,209 per 10 grams on Wednesday, compared to ₹1,50,761 per 10 grams at the previous market close, according to the MCX data.

MCX silver was trading 0.3% or ₹729 per kilogram (kg) lower at ₹2,40,163 per kg as of 11:28 am on April 1, compared to ₹2,40,892 per kg at the previous market close, according to the exchange data.

Lower US dollar impact

The lower rates of the US dollar also serve as a key factor for the rising gold prices due to the renewed demand for the safe-haven asset amid the absence of a specific timeline marking an end to the US-Iran conflict in West Asia.

With precious metals having an inverse relationship with the US dollar rates, the traders and investors are fuelling the demand appeal for gold as they will now be able to buy more of the precious metal for the same money.

Data collected from the Bloomberg US dollar spot index showed that the greenback was trading 0.23% lower at 99.729 as of 1:36 am (EDT) on April 1, 2026.

Along with the lower US dollar rates, the heightened geopolitical uncertainty was also fuelling the demand for safe-haven gold, while also keeping the global oil prices higher in the market.

Although since the beginning of the West Asia conflict on February 28, 2026, the gold prices have been on a downward trajectory, with high interest rates and the higher dollar value, the precious metal is witnessing brief periods of renewed interest amid the talks of a potential de-escalation.

On Tuesday, US President Donald Trump said that the United States could end its strikes on Iran within the next two to three weeks and that the West Asian nation does not need to make a deal for the conflict to end, according to a BBC report.