Silver dips Rs 1,400, gold at Rs 1.52 lakh as stalled Iran talks, rising oil prices raise rate hike fears. Key levels for today

Gold and silver prices opened lower on the Multi Commodity Exchange of India on Monday as rising oil prices added to concerns over inflation and the prospect of interest rates staying higher for longer amid stalled U.S.-Iran talks.

Expectations of renewed diplomatic progress weakened over the weekend after the U.S. President Donald Trump cancelled a planned Islamabad visit by his envoys Steve Witkoff and Jared Kushner. This came even as Iranian Foreign Minister Abbas Araqchi arrived in Pakistan.

In the domestic market, MCX silver futures for May 2026 delivery fell Rs 21,400, or 0.5%, to Rs 2,43,253 per kg. Gold futures for June 2026 delivery were little changed at Rs 1,52,640 per 10 grams. In the previous session, silver climbed around Rs 3,000, while gold advanced by more than Rs 1,000.


Rising crude oil prices tend to fuel inflation by increasing transportation and production costs, which in turn raises the likelihood of higher interest rates. Although gold is traditionally seen as a hedge against inflation, higher interest rates reduce its appeal by making yield-bearing assets more attractive.

Globally, gold prices declined on Monday as a stronger dollar weighed on sentiment. Spot gold was down 0.3% at $4,694.26 per ounce as of 0059 GMT. The metal had fallen 2.5% last week, ending a four-week winning streak. U.S. gold futures for June delivery slipped 0.9% to $4,697.60. Spot silver also edged lower, falling 0.3% to $75.48 per ounce.

How should you trade gold?

Manoj Kumar Jain of Prithvi Finmart said gold and silver prices are likely to remain volatile this week due to movement in the dollar index, fluctuations in crude oil prices, upcoming Federal Reserve monetary policy meetings, and ongoing U.S.-Iran talks.

He said gold has support at $4,710-$4,681 per troy ounce, while resistance is placed at $4,770-$4,800. Silver has support at $74.40-$72.00 per troy ounce, while resistance is seen at $78.00-$80.40 in today’s session.

On MCX, gold has support at Rs 1,51,650-Rs 1,50,500 and resistance at Rs 1,53,800-Rs 1,55,000. Silver has support at Rs 2,41,400-Rs 2,38,000 and resistance at Rs 2,47,700-Rs 2,51,000.

He suggested buying gold on dips as long as it holds Rs 1,48,800 on a closing basis, with upside targets of Rs 1,53,800-Rs 1,55,000. He also recommended buying silver while it holds Rs 2,35,000 on a closing basis, with targets of Rs 2,48,000-Rs 2,51,000.

Gold, Silver rates today, 27 March, across major cities

Gold price today in Delhi

Standard gold (22 carat) prices in Delhi stand at Rs 1,13,072 per 8 grams, while pure gold (24 carat) prices stand at Rs 1,23,344 per 8 grams.

Gold price today in Mumbai

Standard gold (22 carat) prices in Mumbai stand at Rs 1,12,952 per 8 grams, while pure gold (24 carat) prices stand at Rs 1,23,224 per 8 grams.

Gold price today in Chennai

Standard gold (22 carat) prices in Chennai stand at Rs 1,13,592 per 8 grams, while pure gold (24 carat) prices stand at Rs 1,23,920 per 8 grams.

Gold price today in Hyderabad

Standard gold (22 carat) prices in Hyderabad stand at Rs 1,12,952 per 8 grams, while pure gold (24 carat) prices stand at Rs 1,23,224 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.)