Gold, silver gain up to 1% on MCX as geopolitical tensions rise
Synopsis
Gold and silver both climbed on MCX on 12 May as US President Donald Trump's rejection of Iran's peace proposal stoked fresh geopolitical anxiety. Silver led the gains, touching an intraday high of ₹2,82,755 per kg — up 1.6% — while gold hit ₹1,54,243. Experts see a cautiously bullish near-term bias with key resistance levels in sight.
Key Takeaways
Gold futures on MCX touched an intraday high of ₹1,54,243 per 10 grams on 12 May , up 0.37 per cent .
Silver futures hit an intraday high of ₹2,82,755 per kg , gaining up to 1.6 per cent — outperforming gold.
COMEX gold traded at $4,733 per ounce (up 0.08%), while COMEX silver rose 1.05 per cent to $86 per ounce .
Experts peg gold's immediate resistance at ₹1,54,750–₹1,55,000 and support at ₹1,53,000 .
Silver's immediate resistance stands at ₹2,84,000–₹2,85,000 , with support at ₹2,77,000 .
Trigger: US President Donald Trump rejected Iran's peace proposal, reigniting concerns over global stability.
Gold and silver prices traded higher on Tuesday, 12 May, with both precious metals posting gains of up to 1 per cent on the Multi Commodity Exchange (MCX) amid escalating global uncertainty, driven in part by renewed concerns over US-Iran tensions.
Gold Price Movement on MCX
Gold futures (June 5) on MCX opened at ₹1,53,999 per 10 grams, up ₹336 or 0.22 per cent from the previous close of ₹1,53,663. At around 10:25 am IST, gold was trading at ₹1,53,808, higher by ₹145 or 0.09 per cent. The yellow metal touched an intraday high of ₹1,54,243, up ₹580 or 0.37 per cent, while the intraday low stood at ₹1,53,771, up ₹108 or 0.07 per cent.
Silver Outperforms With Sharper Gains
Silver futures (July 3) opened at ₹2,80,229 per kg on MCX, rising ₹1,988 or 0.70 per cent from the previous close of ₹2,78,311. The white metal touched an intraday high of ₹2,82,755, up ₹4,444 or 1.6 per cent, while the intraday low stood at ₹2,79,244, higher by ₹933 or 0.33 per cent.
What Experts Say: Key Levels to Watch
According to commodity market experts, precious metals' near-term bias remains cautiously bullish amid ongoing geopolitical tensions. For gold, immediate resistance stands in the ₹1,54,750–₹1,55,000 range, and a sustained move above this level could extend the rally towards ₹1,55,500–₹1,56,000.
Point of View
Not just monetary. For Indian investors, the ₹1,53,000 support level in gold is the line to watch; a break below it would suggest the geopolitical premium is being priced out faster than the market expects.
NationPress
12 May 2026
Frequently Asked Questions
Why did gold and silver prices rise on 12 May?
Gold and silver prices rose on 12 May primarily due to escalating geopolitical tensions after US President Donald Trump rejected Iran's peace proposal, renewing concerns over global stability. Both metals are traditional safe-haven assets that tend to gain when uncertainty rises.
What were gold's key price levels on MCX today?
Gold futures on MCX touched an intraday high of ₹1,54,243 per 10 grams, with immediate resistance at ₹1,54,750–₹1,55,000 and support at ₹1,53,000. A sustained move above the resistance zone could push prices towards ₹1,55,500–₹1,56,000.
How did silver perform compared to gold on MCX?
Silver outperformed gold, touching an intraday high of ₹2,82,755 per kg — a gain of up to 1.6 per cent — compared to gold's intraday high gain of 0.37 per cent. COMEX silver also rose 1.05 per cent to $86 per ounce.
What are the key support and resistance levels for silver?
For silver, immediate resistance stands at ₹2,84,000–₹2,85,000, with a potential rally to ₹2,87,000–₹2,90,000 if bullish momentum persists. On the downside, ₹2,77,000 is immediate support, with stronger bases at ₹2,75,000 and ₹2,71,000.
What is the near-term outlook for gold and silver?
Commodity market experts describe the near-term bias for precious metals as cautiously bullish, supported by ongoing geopolitical tensions. Sustained moves above key resistance levels could extend the current rally for both gold and silver.
