Gold, Silver Prices Rebound on Iran De-escalation Hopes

Gold and silver prices rebounded sharply on March 10, 2026, in both international and Indian markets, driven by U.S. signals of potential de-escalation in the ongoing conflict with Iran. The rally followed a volatile period marked by geopolitical tensions that had initially boosted safe-haven demand before triggering sell-offs amid margin calls and a strengthening dollar.

In India, 24-carat gold climbed by about 700 rupees per 10 grams to settle at 162,380 rupees in major cities including Mumbai, Delhi, and Chennai. The 22-carat variety, commonly used in jewelry, rose 650 rupees to 148,850 rupees per 10 grams, while 18-carat gold gained 530 rupees to 121,790 rupees. Silver saw a more pronounced surge, increasing by nearly 10,000 rupees per kilogram to 290,000 rupees in northern markets like Delhi and Mumbai. Prices reached 300,000 rupees per kilogram in southern cities such as Chennai and Hyderabad. On the Multi Commodity Exchange, gold futures for April delivery traded at 162,143 rupees per 10 grams, up 1.15 percent, and silver futures for March rose 3.42 percent to 276,308 rupees per kilogram.

Internationally, spot gold advanced 0.8 percent to 5,175 dollars per troy ounce,...