The Impressive TimesTIT Correspondent
info@impressivetimes.com
Gold prices in India continue to trade below their historic peak, with analysts suggesting that the current levels may offer an opportunity for investors looking to enter the precious metals market. Despite rising geopolitical tensions linked to the US–Iran Conflict, the domestic gold market has shown a steady but limited upward movement.
On the Multi Commodity Exchange (MCX), gold futures closed the previous week at around ₹1,61,675 per 10 grams. This price remains roughly ₹19,000 lower than the all-time high of nearly ₹1,80,779 per 10 grams recorded earlier. In global markets, gold traded on COMEX finished near $5,158 per troy ounce, still below its historic peak.
Market analysts believe the domestic gold price is currently fluctuating within a broad band of approximately ₹1,37,000 to ₹1,65,000 per 10 grams. Experts indicate that a decisive breakout above the ₹1,65,000 mark on a closing basis could trigger a stronger upward trend in prices.
According to financial market observers, geopolitical uncertainty continues to play a significant role in the outlook for gold. Since the beginning of the presidency of Donald Trump, global markets have witnessed a series of policy moves including tariff announcements, strategic interventions abroad, and renewed focus on certain geopolitical regions. Such developments have contributed to uncertainty in global financial markets.
Analysts say tensions linked to conflicts in the Middle East and the possibility of future geopolitical flashpoints are likely to keep demand for safe-haven assets such as gold and silver elevated. Historically, investors turn to precious metals during periods of global instability or economic uncertainty.
However, gold prices have not risen as sharply as expected despite ongoing tensions. One key reason cited by experts is the strengthening of the US Dollar Index, which has moved closer to the 100 mark. A stronger US dollar typically puts pressure on gold prices because the metal becomes more expensive for investors holding other currencies.
Rising crude oil prices have also contributed to concerns about global inflation, which has in turn affected expectations regarding monetary policy by the Federal Reserve. Analysts now believe that potential interest rate cuts in the United States could be delayed until late 2026 rather than mid-year as earlier anticipated.
Despite short-term fluctuations, many market experts maintain a positive long-term outlook for gold. Strong demand from central banks, geopolitical uncertainty and continued investor interest in safe-haven assets are expected to support prices.
Market specialists also note that the international gold price currently has a strong support zone near $5,000 to $5,100 per ounce. A clear move above the $5,200 level could push prices toward the $5,400–$5,600 range over the coming months.
For Indian markets, analysts say the ₹1,37,000 level remains a key support point, while sustained trading above ₹1,65,000 could open the door for the next phase of the rally in gold prices. Until then, investors may see short-term dips as potential opportunities for gradual accumulation.
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