Precious Metal Commentary By Lemonn
Gaurav Garg,
Research Analyst,
Lemonn Markets Desk
Mumbai, March 5, 2026: Gold and silver prices experienced notable fluctuations today, driven primarily by ongoing geopolitical tensions in the Middle East and robust safe-haven buying. Internationally, gold is priced at $5113.73 per ounce, reflecting a 0.64% increase, which translates to approximately Rs1,50,725 per 10 grams in India. Silver saw a sharper rise, up 2.56% to $84.33 per ounce, or around Rs2,48,575 per kilogram. These precious metals are gaining traction as investors seek refuge amid market volatility and rising crude oil prices, which surged over 13% to $80.56 per barrel (₹7,385 per barrel) following unsettling news from the region. The U.S. stock market reacted negatively, with major indices like the Dow Jones and S&P 500 experiencing significant declines, further fueling interest in gold and silver. Technically, gold is expected to face resistance around Rs1,53,000, while key support is noted at Rs1,48,000, indicating a range to watch for traders in the coming sessions.
