Spot gold opens lower Wednesday as demand seen weak at high rates
This story was originally published at 13:33 IST on 4 March 2026
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MUMBAI – Prices of gold in the spot market opened slightly lower on Wednesday as demand was seen a bit weak at higher rates, traders said. Markets in some parts of the country are closed because of Holi, they said.
In Mumbai, the spot price of gold of 99.9% purity opened at INR 166,039 per 10 grams, down from Monday's closing price of INR 167,471 per 10 grams. Dealers are offering a discount of INR 1,200 per 10 grams, traders said.
Futures contracts of gold on MCX and COMEX have risen due to safe haven demand as hostilities in West Asia intensified. Israel said it was carrying out a fresh wave of strikes in Iran, after the country earlier said it had carried out attacks on Iran's "leadership compound" on Tuesday, the BBC reported. On the other hand, Iran continued attacking US military bases in the Gulf region, leading to apprehension that the conflict will spread. End
Reported by Abhijit Doshi
Edited by Avishek Dutta
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