Gold rises ₹533 to ₹1,59,052 as weak dollar, West Asia tensions lift bullion
Synopsis
A softer dollar and a still-hot West Asia kept bullion bid on Thursday, with MCX gold pushing to ₹1,59,500 intraday and silver briefly touching ₹2,64,324/kg. With reported Iranian strikes on Bahrain and Kuwait intercepted or failed, the risk premium in gold is not going away quickly — even as crude slipped over 1%.
Key Takeaways
MCX gold August futures rose ₹533 to ₹1,59,052 per 10 grams on 4 June .
Intraday high hit ₹1,59,500 ; session low at ₹1,58,701 .
MCX silver July futures touched ₹2,64,324/kg before trading at ₹2,62,317 , down 0.24% .
Resistance flagged at ₹1,57,300–1,57,400 for gold and ₹2,66,000–2,67,000 for silver.
Brent traded at $96.50/bbl and WTI at $94.76/bbl , both down over 1% .
Gold and silver traded higher in morning deals on Thursday, 4 June, lifted by a weaker US dollar and persistent geopolitical uncertainty in West Asia, as investors tracked the prospects of a diplomatic thaw between the United States and Iran.
Where bullion stood on MCX
On the Multi Commodity Exchange (MCX), gold futures for August delivery were trading 0.35 per cent, or ₹533, higher at ₹1,59,052 per 10 grams as of 11:28 am. The yellow metal climbed as much as 0.61 per cent, or ₹981, to an intraday high of ₹1,59,500, after touching a session low of ₹1,58,701 — still 0.11 per cent above the previous close.
Silver futures for July delivery rose up to 0.51 per cent, or ₹1,366, to an intraday peak of ₹2,64,324 per kg. The white metal, however, was last quoted at ₹2,62,317, down ₹641 or 0.24 per cent, after recording an intraday low of ₹2,62,081. Gold and silver had opened the session on the MCX at ₹1,59,366 and ₹2,63,146, respectively.
What is driving the move
Analysts said safe-haven demand and West Asia tensions continue to support precious metals, though a sustained breakout above key resistance bands would be needed to firm up the bullish trend. They flagged resistance for MCX gold at ₹1,57,300–1,57,400, while silver faces a ceiling near ₹2,66,000–2,67,000.
Geopolitics keeps risk premium intact
Investor sentiment stayed cautious after the US military reportedly said Iranian missile strikes targeting Bahrain, Kuwait and other regional locations were either intercepted or failed. The standoff has kept a steady bid under bullion even as headlines hint at possible US–Iran diplomatic engagement.
Crude slips in tandem
Crude oil prices declined more than 1 per cent, with international benchmark Brent trading at $96.50 per barrel and US West Texas Intermediate (WTI) at $94.76 per barrel. Softer crude typically eases imported inflation pressure for India, but the simultaneous bid in gold underscores that markets remain on edge over a wider regional flare-up.
What to watch next
Traders will track every cue from Washington and Tehran, alongside dollar index moves, for the next directional trigger. A decisive close above the cited resistance levels could open fresh upside; a cooling of West Asia tensions would test how much of the rally is pure risk premium.
Point of View
57,300–1,57,400 zone analysts flag; until then, this is a risk-premium rally, not a trend break. Falling crude alongside rising gold is the giveaway: traders are buying insurance, not growth.
NationPress
12 Aug 2026
Frequently Asked Questions
Why did gold prices rise on 4 June?
Gold rose on the MCX because of a weaker US dollar and continued geopolitical tension in West Asia, particularly around US–Iran developments. August futures gained ₹533, or 0.35%, to ₹1,59,052 per 10 grams in morning trade.
What was the silver price on MCX today?
MCX silver July futures touched an intraday high of ₹2,64,324 per kg, up 0.51% or ₹1,366. The contract was later trading at ₹2,62,317, down 0.24% or ₹641 during the session.
What are the key resistance levels for gold and silver?
Analysts have flagged resistance for MCX gold around ₹1,57,300–1,57,400 and for silver near ₹2,66,000–2,67,000. A sustained breakout above these bands would be needed to firm up the bullish outlook.
How did crude oil prices move?
Crude oil prices fell over 1% on the day. Brent crude was trading at $96.50 per barrel and US WTI at $94.76 per barrel.
What geopolitical event is driving safe-haven demand?
The US military reportedly said Iranian missile attacks targeting Bahrain, Kuwait and other regional locations were either intercepted or failed. The ongoing US–Iran standoff is keeping safe-haven flows into gold and silver active.
