Gold price on MCX, March 25: Yellow metal prices jump 4%, silver up over ₹12,500/kg; check key factors

Precious metal gold and silver prices rallied during the early trading hours on Wednesday, March 25, 2026, snapping their five day losing streak on the Multi-Commodity Exchange (MCX) due to the renewed demand for safe haven assets amid West Asia tensions.

Gold prices have been on a downward trend since the beginning of the conflict between United States and Iran in West Asia, which fuelled the demand for US dollar amid higher oil prices and interest rates, all of which is negative for the gold prices.

Gold prices today

MCX gold prices were trading 3.6% or ₹5,119 per 10 grams higher at ₹147,314 per 10 grams as of 9:38 a.m. on Wednesday, compared to ₹142,195 per 10 grams at the previous market close, according to the exchange data.

After the markets opened on Wednesday, the gold prices surged 4% to hit the intraday high of ₹147,925 per 10 grams on the Multi-Commodity Exchange on March 25.

Silver prices were trading 5.58% or ₹12,504 per kilogram (kg) higher at ₹236,445 per kg as of 9:40 a.m. on Wednesday, compared to ₹223,941 per kg at the previous market close, according to MCX data.

On the global front, NYMEX-based COMEX gold prices were up 3.82% at $4568.70 per ounce as of 12:07 a.m. (EDT), compared to the previous commodity market close level of $4,402 per 10 grams, according to the official data.

The COMEX silver rates were also up 5.84% at $73.635 per ounce as of 12:09 a.m. (EDT) on March 25, compared with the previous market close of $69.569 per ounce.

What factors are fuelling gold prices today?

After briefly snapping its downward trend early last week, the precious metal gold prices continued to fall from March 18, due to the dynamic geopolitical developments, attacks in West Asia and the rising prices of US dollar and crude oil.

Gold prices on MCX have lost nearly 19.5% since the beginning of the West Asia conflict dropping from its ₹170,055 per 10 gram levels back in March 2, to yesterday’s market close at ₹142,195 per 10 grams.

Precious metal trading prices in the global market have an inverse relationship with the US dollar as when the price of dollar is higher, traders will be able to buy less of gold for the same money. This factor played a major role along with the higher interest rates and the fading expectations of US Fed rate cut in weighing down the gold prices.

The Bloomberg US dollar spot index data showed that the greenback was trading 0.15% lower at 98.285 as of 11:54 p.m. (EDT) on Tuesday, March 24.

The fall in the rate of dollar has also increased the demand appeal for gold as traders will be able to buy more gold at a lower rate due to the recent fall in overall prices. However, the gold prices have been highly volatile over the last few days reacting to the mixed cues and updates from the West Asia conflict.

With the rising risk of inflation in the global economy, investors are also renewing their interest in precious metal gold amid the talks of potential de-escalation.

President Trump on March 24 said that America and Iran are engaged in talks for a potential peace deal, but according to a Bloomberg report, the United States is also preparing to send around 2,000 troops to West Asia in case Iran wants to further pressure the oil trade via Strait of Hormuz.