Gold prices climbed on Friday, reflecting renewed safe-haven demand amid rising geopolitical tensions between the United States and Iran. Analysts attribute the surge to extended US-Iran nuclear negotiations, fresh US sanctions on Iran’s oil and weapons exports, and reports of additional US troop deployments in the region.
The US dollar index softened marginally by 0.04% to 97.76, making dollar-denominated bullion more attractive for overseas buyers. However, the modest dip in the dollar followed a recent rally, limiting sharper gains in gold. Expectations of near-term US interest rate cuts also moderated, supporting bullion prices.
In domestic developments, the Securities and Exchange Board of India (SEBI) has revised the framework for valuing physical gold and silver held by exchange-traded funds (ETFs), aiming to align prices with the domestic market and improve transparency. These revised norms will take effect from April 1, 2026.
Market analysts note that MCX gold futures are consolidating in the ₹1,55,000–₹1,65,000 range after retreating from record highs near ₹1,80,000–₹1,81,000. The current range-bound movement is seen as consolidation rather than a reversal, suggesting the broader bullish trend remains intact.
Gold Rates Across Major Cities in India (Feb 27, 2026)
Delhi:
24 Karat: ₹16,172/gram
22 Karat: ₹14,825/gram
18 Karat: ₹12,133/gram
Chennai:
24 Karat: ₹16,255/gram
22 Karat: ₹14,900/gram
18 Karat: ₹12,750/gram
Bengaluru:
24 Karat: ₹16,157/gram
22 Karat: ₹14,810/gram
18 Karat: ₹12,118/gram
Mumbai:
24 Karat: ₹16,157/gram
22 Karat: ₹14,810/gram
18 Karat: ₹12,118/gram
Pune:
24 Karat: ₹16,157/gram
22 Karat: ₹14,810/gram
18 Karat: ₹12,118/gram
Kolkata:
24 Karat: ₹16,157/gram
22 Karat: ₹14,810/gram
18 Karat: ₹12,118/gram
Investors and traders are closely watching gold prices in India amid ongoing geopolitical risks and domestic market developments. The combination of safe-haven demand, currency movements, and regulatory updates continues to influence bullion trends across major cities.