Gold rate today, 12 May 2026: Following global economic uncertainty amid the US-Iran war, the MCX gold rate extended the bull trend during the early morning session on Tuesday. The MCX gold price today opened with an upside gap at ₹1,53,999 per 10 gm and touched an intraday high of ₹1,54,243 per 10 gm within a few minutes of the Opening Bell, logging an intraday gain of ₹580 per 10 gm. The COMEX gold rate is oscillating around $4,730 per ounce, signalling a flat-to-positive trend in the international market.
According to experts, the gold rate today is in a bull trend due to uncertainty creeping into the global economy following the escalation of the US-Iran war. They said that the MCX gold rate is facing a hurdle at ₹1,55,00. Breaking above this resistance, the precious yellow metal may try to test the next resistance levels at ₹1,60,000 and ₹1,65,000. In the international market, the COMEX gold rate may test the $4,750 and $4,800 per ounce levels if the yellow metal sustains above $4,680.
Gold Rate Today: Why is the yellow metal rising?
Speaking on the outlook for the gold price today, Anuj Gupta, a SEBI-registered market expert, said the gold price is rising amid increased safe-haven demand following the fresh escalation in the US-Iran war. They said uncertainty has gripped the global economy, fueling demand for the precious yellow metal.
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The MCX gold rate is rising due to increased safe-haven demand driven by global economic uncertainty, particularly following the escalation of the US-Iran war. A softer US dollar also contributes to gold’s appeal for international buyers.
The MCX gold rate faces immediate resistance at ₹1,55,000 per 10 gm, with potential to test ₹1,60,000 and ₹1,65,000 if it breaks through. Immediate support is seen around the ₹1,52,000 zone.
The fragile situation in the Strait of Hormuz and increased market anxiety due to US-Iran conflict remarks are driving safe-haven demand for gold. This geopolitical uncertainty provides a solid floor for gold prices amid broader market volatility.
Gold prices are expected to remain in a consolidation phase in the near term due to persistent geopolitical tensions and inflation concerns. Any correction towards the ₹1,50,000 zone may be viewed as a buying opportunity for long-term investors.
PM Modi urged investors to avoid buying gold to help shield India’s economy from the West Asia crisis fallout. This is because high gold imports put additional pressure on the country’s trade deficit and the rupee, especially during periods of elevated crude oil prices and global uncertainty.
“MCX gold rate is in the ₹1,48,000 to ₹1,55,000 per 10 gm range. Breaking above the ₹1,55,000 hurdle, the precious metal may try to test the ₹1,60,000 per 10 gm level in the near term. In the international market, the COMEX gold has immediate support placed at $4,680/oz. If the yellow metal sustains above this support, we can expect the COMEX gold rate to touch $4,750 and $4,800/oz soon,” said Anuj Gupta.
Gold Price Today: US dollar in focus
Ravi Singh, Chief Research Officer (Research) at Master Capital Services, believes that the gold price today is rising as the metal capitalises on its recent breakout. This advance reinforces the bullish structure, with prices now holding firmly above the 153,000 level. Technical positioning remains robust; the contract continues to trade above significant short-term moving averages, confirming a strong “buy on dips” sentiment.
The Master Capital Services expert said that a softer U.S. dollar has increased the appeal of gold for international buyers, while stable Treasury yields provide a favourable backdrop for non-yielding assets. Additionally, persistent geopolitical instability in the Middle East continues to drive safe-haven demand, providing a solid floor for prices amid broader market uncertainty.
“The Relative Strength Index (RSI) has moved higher in tandem with price action but remains below overbought thresholds, leaving room for further appreciation. While immediate support has shifted toward the 152,000 zone, the next major overhead resistance is pegged at 155,300. Market participants are monitoring price sustainability at these levels to validate a potential move toward higher targets,” said Ravi Singh of Master Capital Services.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
