In India, the spot price of gold in the Mumbai market ended at ₹1,56.625 per 10 gm compared with ₹1,51,529 on Tuesday
| Photo Credit:
PTI
The precious metals complex continued to gain for the second day in a row, as geopolitical uncertainties over the US shooting down an Iranian drone worried investors.
Prices in the domestic market followed the global trend with spot and futures prices rising.
“Geopolitical tensions added to haven demand (for gold and silver) after the US Navy shot down an Iranian drone in the Arabian Sea, even as markets await a fresh round of nuclear talks scheduled for Friday,” said Renisha Chainani, head of research at Augmont.
Gold crossed $5,000 an ounce in early trade before sashaying around the region. At 2025 hours IST, gold was quoted at $5,009.07 an ounce, while gold April futures on Comex ruled at $5,032.24 an ounce.
Indian prices
In India, the spot price of gold in the Mumbai market ended at ₹1,56.625 per 10 gm compared with ₹1,51,529 on Tuesday. On MCX, gold April futures ruled at ₹1,57,323 against ₹1,53,809 in the previous trade.
Silver topped $90 an ounce but dropped to $89.82. On COMEX, silver March futures were $89.61. In the Mumbai spot market, silver ended at ₹2,82,462 a kg against ₹2,63,965. On MCX, silver March futures quoted at ₹2,86.000 a kg against ₹2,68,015 on Wednesday.
Chinese silver price
On the Shanghai Futures Exchange, silver March futures increased to 24,018 yuan per kg ($107.57 per ounce).
Platinum gained nearly one per cent at $2,255 an ounce, and palladium was up nearly 3 per cent at $1,807 an ounce.
Jateen Trivedi, VP Research Analyst – Commodity and Currency, LKP Securities, said Going ahead, ₹1,61,000 to ₹1,63,000 remains the strong resistance point. On COMEX, $5,100 will be a strong resistance point. At the lower end, support lies at around ₹1,45,000 to ₹1,50,000.
Published on February 4, 2026
