New Delhi, April 6 Gold prices rose by over 1% to Rs 1.51 lakh per 10 grams in futures trading on Monday, amid escalating geopolitical tensions in West Asia.
On the Multi Commodity Exchange, the yellow metal for June delivery rose by Rs 1,621, or 1.08%, to Rs 1,51,301 per 10 grams, from Thursday's closing level of Rs 1,49,680 per 10 grams.
Commodity markets were closed on Friday due to Good Friday.
Since the onset of the conflict in West Asia, gold has lost its sheen by Rs 14,358, or nearly 9%, from Rs 1,65,659 per 10 grams recorded on February 27, 2026.
In overseas markets, gold futures for the June contract gained USD 47.55, or 1.02%, to USD 4,727.25 per ounce.
According to analysts, market sentiment remained volatile after US President Donald Trump said he would bring "hell" to Iran and set a new deadline for Tuesday for the opening of the Strait of Hormuz.
Tehran has rejected the latest ultimatum and continued to carry out attacks on energy assets across West Asia.
Meanwhile, gold has struggled to perform its safe-haven role amid rising crude prices and expectations of tighter monetary policy by global central banks, analysts said.
"Gold remains down roughly 12% since the conflict began, as surging energy prices fuelled inflation concerns and strengthened expectations of interest rate hikes," said Jigar Trivedi, Senior Research Analyst at IndusInd Securities.
He added that forced liquidations in precious metals to cover losses in other markets also weighed on prices.
Investors are now closely monitoring the geopolitical situation and awaiting US macroeconomic data such as GDP numbers and CPI readings for further direction, said Renisha Chainani, Head of Research at Augmont.
Traders will also closely watch the US Federal Reserve's Federal Open Market Committee (FOMC) meeting minutes for signals on the interest rate cycle, she added.
On the outlook, Chainani expected gold prices to trade in the range of Rs 1.44-1.54 lakh in the domestic markets this week.
