Gold Rate Today, March 11 2026: Gold prices on the Multi Commodity Exchange (MCX) edged lower on Wednesday (March 11) as strength in the local currency offset the impact of geopolitical tensions in the Middle East.

However, prices in the international market moved higher, supported by weakness in the US dollar.

A stronger rupee makes imported gold expensive, directly pushing MCX gold prices lower.

As of 9:30 am, gold futures were down 0.4 per cent at Rs 1,62,721 on the MCX. In contrast, spot gold in the international market rose 0.2 per cent, or USD 9.5, to USD 5,202.34 per ounce.

Weak US Dollar Supports Gold

The US dollar, measured against a basket of currencies, was trading lower at USD 98.8. A weaker US dollar usually makes gold more attractive for foreign buyers.

According to Rakesh Khanna, a technical analyst, who spoke to ET Now Swadesh, the short-term trend for gold remains positive but sideways, supported by weakness in the US dollar and a rise in safe-haven demand.

Middle East Tensions Increase Safe-Haven Demand

On the geopolitical front, tensions in the Middle East have intensified. According to Reuters, around 150 US troops have been wounded in the 10-day-old war with Iran, citing two people familiar with the matter. In addition, Israel has launched new strikes targeting Iran and Lebanon.

Gold is widely considered a reliable hedge, preserving wealth when geopolitical uncertainty disrupts global markets.

Rate Cut Expectations also support Bullion

Bart Melek, global head of commodity strategy at TD Securities, told Reuters that oil prices have eased enough for the US Federal Reserve to consider cutting interest rates, while inflation remains elevated.

This situation has led investors to believe that currencies may weaken again, which could further support gold prices.

Bullion is also viewed as a hedge against inflation, and when interest rates fall, gold becomes more attractive to investors.

US Economic Data in Focus

Looking ahead, gold prices could be influenced by upcoming US economic data, which may provide clues about the health of the US economy.

Investors across the globe will be closely watching the core Consumer Price Index (CPI) data due later today. Several other important economic indicators are also scheduled for release later this week.

Silver Prices also edge higher

On the precious metals front, silver prices also moved higher, rising 0.3 per cent to USD 88.54. On MCX, silver futures settled 0.3 per cent lower at Rs 2,77,000 in the previous session.