Gold Price Today: Gold and silver prices opened sharply higher on the Multi-Commodity Exchange (MCX) today, continuing their strong upward momentum. Gold April futures started the session nearly 3% higher at ₹1,48,000 per 10 grams, compared to the previous close of ₹1,41,669, and later surged over 6% to trade close to the ₹1.53 lakh level.
Silver March futures also saw a strong opening, rising 4% to ₹2,45,711 per kilogram from the previous close of ₹2,36,261. As the session progressed, silver prices jumped sharply by nearly 13%, climbing close to ₹2.67 lakh per kilogram.
On Tuesday, 03/02/2026, Gold and silver prices rose strongly in both international and Indian markets. Globally, gold prices for April delivery increased by over 6% to $4,935 per ounce, while silver prices for March delivery jumped by more than 8% to $83.441 per ounce.
The rally was even stronger in India.
Gold futures climbed nearly 7% to ₹1,53,809 per 10 grams, and silver prices saw a sharp rise of over 13%, settling at ₹2,68,015 per kilogram.
Gold Price Today: MAJOR NEWS
U.S. Shoots Down Iranian Drone Amid Rising Tensions
According to a Reuters report, the U.S. military shot down an Iranian drone on Tuesday after it came too close to the aircraft carrier Abraham Lincoln in the Arabian Sea. This incident happened at a sensitive time, as the U.S. and Iran were trying to restart talks over Iran’s nuclear program. U.S. President Donald Trump warned that serious consequences could follow if the two sides fail to reach an agreement, especially as U.S. warships move closer to Iran.
Oil Prices Jump After Drone Incident Near U.S. Warship
Oil prices rose by more than $1 per barrel after reports confirmed that a U.S. fighter jet had shot down an Iranian drone. The U.S. military said the Shahed-139 drone was flying toward the aircraft carrier Abraham Lincoln with unclear intentions. It was intercepted by an F-35 fighter jet to prevent any possible threat. A U.S. Central Command spokesperson said the action was taken in self-defense to protect the warship and the crew on board.
Iran Seeks Changes in U.S. Nuclear Talks Plan
Iran is asking for changes in the upcoming talks with the United States, according to a regional source. Tehran wants the meeting, planned for later this week, to be held in Oman instead of Turkey. Iran is also pushing to keep the talks strictly focused on nuclear issues and wants them to remain one-on-one discussions with the U.S. This has added fresh uncertainty to an already delicate diplomatic process. The talks were earlier expected to resume in Turkey on Friday. Iran has clearly said that its defense capabilities are not open for discussion. Another source mentioned that Jared Kushner may join the talks along with Steve Witkoff.
Fed Governor Steps Down from White House Economic Role
Federal Reserve Governor Stephen Miran resigned on Tuesday from his position as head of the White House’s Council of Economic Advisers. This move follows a promise he made to the Senate when he took on a longer-term role at the Federal Reserve. Miran had been on unpaid leave from the White House job since President Donald Trump appointed him last year to fill a vacant seat on the Federal Reserve Board. Some Democratic senators had criticized this arrangement, saying it could blur the independence of the Federal Reserve and make the new policymaker appear too closely tied to the President.
Since becoming a member of the Federal Reserve, Stephen Miran has strongly supported cutting interest rates more aggressively. He disagreed with the majority at all four policy meetings he attended. While other policymakers chose to cut rates by a small margin of 0.25% at three meetings, Miran pushed for bigger cuts of 0.50%. At the most recent meeting in January, when interest rates were kept unchanged between 3.5% and 3.75%, Miran again voted against the decision and argued for a 0.25% rate cut instead.
Trump Signs Bill to End U.S. Government Shutdown
U.S. President Donald Trump signed a government spending bill into law on Tuesday, officially ending the partial shutdown. The move also gives lawmakers more time to discuss and negotiate potential limits on Trump’s immigration crackdown.
Gold Price Today: NIRMAL BANG KEY MARKET LEVEL INDICATORS FOR THE DAY (COMEX)
Gold Price Today: MACRO ECONOMIC INDICATORS FOR THE DAY
Gold Price Today: ANALYST VIEW: Volatile Metals Rebound
Manoj Kumar Jain, a senior financial market expert, said:
“Gold and silver prices bounced back after falling sharply for two straight sessions. Earlier, markets reacted strongly to the nomination of Kevin Warsh as the new Federal Reserve Chairman, which caused panic selling in precious metals. However, investors have now calmed down and are focusing again on basic market factors. Support for gold and silver also came from the partial U.S. government shutdown and a pullback in the U.S. dollar from its recent highs. Ongoing uncertainty around a possible U.S.-Iran nuclear deal further helped lift precious metal prices. The rise in the Indian rupee has limited the gains in gold and silver prices in domestic markets. Both metals are seeing sharp price swings, showing very high volatility.“
Manoj Kumar Jain View for Today | 4/02/2026
Silver is expected to stay above its key support level of $71 per ounce, while gold may also hold above $4,440 per ounce by the end of the week. Looking ahead, gold and silver prices are likely to remain volatile due to fluctuations in the U.S. dollar, the ongoing partial government shutdown in the U.S., and rising geopolitical tensions.In today’s trading session, gold prices are expected to find support between $4,770 and $4,884 per ounce, meaning prices may not fall much below this range. On the upside, resistance is seen between $5,000 and $5,145 per ounce, where prices may face selling pressure. Silver prices are likely to stay supported between $78.00 and $81.20 per ounce, while resistance is placed in the range of $88.80 to $92.40 per ounce.
In the Indian MCX market, gold has support levels between ₹1,47,700 and ₹1,50,800 per 10 grams, while resistance is seen between ₹1,55,500 and ₹1,60,000. Silver on MCX has support between ₹2,50,000 and ₹2,58,800 per kilogram, with resistance expected in the range of ₹2,78,000 to ₹2,92,000.
Kedia Capital Commodity View: Technical Levels
Technically, the market is witnessing short covering, with open interest falling 1.29% alongside a sharp ₹9,818 price rise. Gold has support at ₹148,750, with further support at ₹143,690. Resistance is seen at ₹157,335, and a sustained move above could propel prices toward ₹160,860.
Silver has immediate support at ₹249,820; a break below could test ₹231,620. On the upside, resistance is seen at ₹282,110, and a sustained move above this level could propel prices toward ₹296,200.
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