BIG BREAKING! MCX Gold Surges Past ₹1 Lakh Amid Israel-Iran Conflict, Weak Dollar

Gold prices hit a one-month high as escalating Middle East tensions and weak US data fuel demand for safe-haven assets; silver also gains.

June 13, 2025 | Mumbai –
Gold prices surged on Friday, crossing ₹1,00,000 per 10 grams on the Multi Commodity Exchange (MCX) as heightened geopolitical tensions between Israel and Iran drove investors toward safe-haven assets. The yellow metal’s sharp rally mirrors trends in global markets, with spot gold and US futures marking their highest levels since May 7.

Also Read: Why Has Crude Oil Soared 13% in One Day? Brent Breaches $78 Per Barrel

At open, MCX gold jumped by ₹1,108 (1.12%) to ₹99,500 per 10 grams, while MCX silver rose ₹565 to ₹1,06,450 per kg. This comes as spot gold internationally soared 1.3% to $3,428.28 per ounce, heading for a weekly gain of over 3.5%. US gold futures climbed 1.4% to $3,449.60.

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Geopolitical Tensions Drive Safe-Haven Demand

The rally follows Israel’s preemptive airstrikes on Iran, targeting nuclear and military infrastructure. The move triggered fears of a broader regional conflict, prompting global investors to move capital into gold and crude oil.

Also Read: Why are Indian Stock Markets Weak? 10 Overnight Cues that Have Shaped Trade Today

“Investors sought safety amid escalating geopolitical tensions and economic uncertainty,” said Jigar Trivedi, Senior Research Analyst at Reliance Securities. He added that uncertainty over US trade policy also supported bullion demand, as President Trump hinted at renewed unilateral tariffs.

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Market Outlook and Key Levels

Also Read: Dollar Hits Three-Year Low Amid Trade Turmoil and Rate Cut Bets

Support and Resistance Levels (Gold):

• International: Support at $3,374 – $3,350; Resistance at $3,434 – $3,466
• MCX: Support at ₹98,000 – ₹97,650; Resistance at ₹99,000 – ₹99,600

Support and Resistance Levels (Silver):

• International: Support at $36.00 – $35.70; Resistance at $36.60 – $36.88
• MCX: Support at ₹1,05,000 – ₹1,04,200; Resistance at ₹1,07,000 – ₹1,07,700

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Fed Rate Cut Bets Add Fuel

Weaker-than-expected US Producer Price Index (PPI) data and rising jobless claims have bolstered hopes of a possible Federal Reserve rate cut, further enhancing gold’s appeal.

“Gold price has support at $3,400 and potential upside if it sustains above that mark,” said Rahul Kalantri, VP Commodities, Mehta Equities Ltd. He projects INR gold could hit ₹1,00,640, while silver may touch ₹1,08,250.

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Conclusion

Gold price today reflects not just market anxiety over the Israel-Iran conflict, but also global economic uncertainty. With both geopolitical and macroeconomic factors aligning, analysts anticipate further upside in the precious metals segment.

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Tags:

Gold Price Today, MCX Gold, Israel Iran Conflict, Gold Rate India, Silver Price, Commodity Market, Crude Oil, Geopolitical Tensions, Safe-Haven Assets, US Inflation