Gold Price Today extended its upward momentum on Tuesday, marking the fifth consecutive session of gains in global markets. The rally comes amid escalating tensions in the Middle East and a sharp spike in crude oil prices, which have strengthened safe-haven demand for bullion.
In India, trading on the Multi Commodity Exchange (MCX) remained closed during the first half of the day due to Holi, with the evening session scheduled to resume at 5 PM.
Why Gold Price Today Is Rising
The surge in Gold Price Today is largely driven by geopolitical instability and rising inflation concerns. Escalating conflict in West Asia has increased fears of supply chain disruptions and sustained inflationary pressure in the United States.
US President Donald Trump stated that military operations against Iran would continue as long as necessary. Reports suggested Tehran targeted oil and gas infrastructure in Saudi Arabia and threatened shipping routes in the Strait of Hormuz, while Israel announced fresh strikes on Iranian command centres.
Also read : Stock Market Holidays 2026: NSE, BSE to Remain Closed on March 3 for Holi
These developments pushed investors toward gold as a safe-haven asset.
International Gold & Silver Prices
In global markets:
- Spot gold rose 0.8% to $5,360 per ounce
- US gold futures gained nearly 1%
- Spot silver climbed 1.9% to $91.11 per ounce
However, the dollar index strengthened 0.19% to 98.57, limiting further upside as a stronger dollar makes gold more expensive for overseas buyers.
Crude oil prices also jumped:
- US crude futures rose 1.4% to $72.23
- Brent crude gained 1.87% to $79.2 per barrel
Rising energy prices are adding to inflation concerns, further supporting the Gold Price Today rally.
Gold Performance in 2026
Gold has surged nearly 25% so far in 2026, following a massive 64% rally last year. The gains have been supported by:
- Strong central bank purchases
- Increased ETF inflows
- Concerns over US Federal Reserve policy independence
Investors are now closely watching key US economic data, including PMI numbers, ADP Non-Farm Employment Change and unemployment figures, for signals on the Federal Reserve’s next interest rate move.
Gold Rates Across Major Indian Cities (March 3)
Here’s a look at Gold Price Today across major cities in India (per 1 gram):
Delhi
- 24K – ₹17,017
- 22K – ₹15,600
- 18K – ₹12,767
Chennai
- 24K – ₹17,073
- 22K – ₹15,650
- 18K – ₹13,400
Bengaluru
- 24K – ₹17,002
- 22K – ₹15,585
- 18K – ₹12,752
Mumbai
- 24K – ₹17,002
- 22K – ₹15,585
- 18K – ₹12,752
Pune
- 24K – ₹17,002
- 22K – ₹15,585
- 18K – ₹12,752
Kolkata
- 24K – ₹17,002
- 22K – ₹15,585
- 18K – ₹12,752
With geopolitical tensions persisting and crude oil prices rising, analysts believe Gold Price Today could remain volatile in the near term. The direction of US economic data and Federal Reserve policy decisions will likely play a key role in determining the next move in bullion markets.