Gold gains by 0.32% amid global tensions, trades at Rs 76,280 per 10 grams

Gold prices climbed in the domestic and international markets on Thursday, driven by escalating geopolitical tensions, a softer US dollar, and declining bond yields. The heightened conflict between Russia and Ukraine has fueled safe-haven demand, pushing bullion higher.

On the Multi Commodity Exchange (MCX), December gold futures were trading at Rs 76,280 per 10 grams in the morning session, up 0.32 percent. Internationally, gold marked its fourth consecutive session of gains as investors remained cautious about geopolitical risks and awaited clarity on US interest rate policy.

Domestic city-wise gold rates:

• Delhi: Rs 77,400 per 10 grams (24K)
• Mumbai: Rs 76,280 per 10 grams (24K)
• Chennai: Rs 77,150 per 10 grams (24K)
• Kolkata: Rs 76,300 per 10 grams (24K)
• Bangalore: Rs 76,400 per 10 grams (24K)

Prices for 22K gold were approximately Rs 1,500–2,000 lower per 10 grams across major cities.

International trends influencing gold:

Geopolitical developments remain the dominant factor for gold's rally. Reports of increased military activities in the Russia-Ukraine conflict, alongside potential US tariff measures on China, have bolstered demand for precious metals. Meanwhile, easing US bond yields and a weaker dollar have enhanced gold’s appeal.

Outlook for investors:

Market analysts highlight that gold’s recent rebound from oversold levels indicates potential for further gains. Domestically, gold could test resistance levels near Rs 76,440 to Rs 77,500. In the global markets, gold prices are expected to hover near the critical resistance zone of $2,680 per ounce.

With uncertainties persisting around geopolitics and the Federal Reserve's monetary policy, gold remains a preferred safe-haven asset for investors. Silver prices also followed suit, with marginal gains observed in both domestic and international markets.