Gold rates in India rallied sharply on March 10th as crude oil prices crashed sharply by 26% to 30% since yesterday evening. On Tuesday, MCX gold jumped 1% and the MCX silver price rallied by 4%. Also, 24 carat, 22 carat and 18 carat gold rates in the country surged steadily, halting its mega crashes. Silver rates in India also rose to hit Rs 2.90 lakh palls.
In the international market, spot gold rose nearly 1% to trade around $5,170 per ounce, while spot silver zoomed by 2% to trade near $89 per barrel.

Trump on Monday sought to reassure markets amid ongoing military tensions with Iran, describing the operation as a "little excursion." In response, Iran stated that it will decide when the conflict concludes. Earlier concerns that a prolonged conflict in the region could trigger a spike in inflation had prompted traders to scale back expectations for Federal Reserve interest rate cuts this year. Markets now imply roughly 40 bps of easing by year-end, down from over 55 bps in late February, as per Trading Economics.
Apart from this, investors will keenly await for the key US inflation data such as CPI and PCE that are scheduled later this week. These reports are US Fed preferred indicators for inflation trajectory.
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