Gold prices have surged significantly in recent days, driven by escalating tensions in the Middle East. Investors are flocking to safe-haven assets amid geopolitical uncertainties, resulting in notable increases in both domestic and international markets.
Gold Prices on the Rise: ₹1.73 Lakh/10g Amid Escalating Tensions
As of March 1, 2026, the price of 24K gold in India has skyrocketed to ₹1,73,080 per 10 grams, marking an increase of ₹4,370. This surge follows an international trend where spot gold has jumped to about $5,278.05 per ounce, with an intraday peak reaching $5,299.00.
International Gold Market Overview
- Current Spot Gold Price: $5,278.05 per ounce
- Intraday High: $5,299.00
- Daily Change: +1.75%
- Previous Close: $5,194.20
- Opening Price: $5,201.90
- Low: $5,182.90
- Trade Volume: 145,216
- Open Interest: 275,174
Domestic Gold Rates in Major Indian Cities
The recent international surge has positively impacted Indian gold prices. The prices for various purities in several cities are as follows:
| City | 24K Gold (₹ per 10g) | 22K Gold (₹ per 10g) | 18K Gold (₹ per 10g) |
|---|---|---|---|
| Delhi | ₹1,73,230 | ₹1,58,800 | ₹1,29,960 |
| Jaipur | ₹1,73,230 | ₹1,58,800 | ₹1,29,960 |
| Mumbai | ₹1,73,080 | ₹1,58,650 | ₹1,29,810 |
| Chennai | ₹1,72,090 | ₹1,57,750 | ₹1,29,070 |
Market Drivers Influencing Gold Prices
Several factors are contributing to the rising demand for gold:
- Geopolitical Tensions: Increased military conflicts, particularly involving the U.S., Israel, and Iran, are driving investors toward gold as a safe haven.
- Economic Policies: Rising inflation and currency depreciation are reinforcing gold’s role as a reliable asset.
- Institutional Support: Analysts predict long-term targets for gold could reach $6,000 per ounce, adding momentum to the current rally.
Investor Insights and Future Trends
The current trading environment suggests that gold could retest record highs. With prices currently at ₹1.73 lakh per 10g and resistance noted at ₹1.80 lakh, investors are encouraged to explore systematic investment plans in gold ETFs and digital gold as feasible options.
In conclusion, as geopolitical unrest continues to unsettle markets, gold is reaffirming its place as a crucial hedge for investors. The growing volatility indicates potential for further price increases if regional tensions persist.
