- March 10, 2026
- Posted by: EWGFX
- Category: news
Gold price prediction today: Gold prices are competing with the strength in dollar amidst the Middle East crisis, says Praveen Singh, Senior Fundamental Research Analyst- Currencies and Commodities at Mirae Asset Sharekhan:
Gold Performance:
In the week ending March 6, spot gold traded in a choppy and volatile fashion between $4996 (March 3) and $5419 (March 2) amid competing influences of strengthening US Dollar and safe haven demand coming on geopolitical worries.
The metal, aided by a disappointing monthly US job report for February, closed 1.85% higher at $5171 on Friday; however, it still closed with a weekly loss of around 2%, first in five weeks, as the US Dollar strengthened on safe haven demand due to sharp spike in oil prices. We also note that gold had already been rallying hard on geopolitical factors anticipating Iran strike risk, so traders preferred to book profits amid volatile situations.
The shiny metal, at the time of writing this article, was trading at $5,097, down nearly 1.5% for the day, while the MCX April gold contract at Rs 160,300 was down by 0.83%.
Geopolitics watch:
The Iran war has entered the second week. The Islamic Republic has named Mojtaba Khamenei to succeed his father Ali Khamenei as supreme leader, which signals that hardliners remain firmly in charge.
Reuters reported that France is deploying naval vessels to the Mediterranean and Red Sea for defence.
President Trump is thinking of deploying special forces to seize Iran’s enriched uranium. He is also planning to take control of Kharg, a major crude oil export terminal of Iran.