Gold rate jumped over 1% on the MCX on Wednesday (March 4) morning, recouping some of its losses from the previous session amid heightened geopolitical risks stemming from the US-Iran war. MCX gold April futures jumped 1.13% to ₹1,62,930 per 10 grams, while MCX silver May futures rose 1.3% to ₹2,68,700 per kg. In the previous session, the MCX gold April futures contract settled at ₹1,61,108 per 10 grams, falling 3% and the silver May futures contract settled at ₹2,65,318 per kilogram, crashing nearly 5% amid strong gains in the dollar index and a rebound in the US 10-year bond yields. The dollar index jumped to a multi-month high of 99.33, and the U.S. 10-year bond yields surpassed the 4.0% level on Wednesday amid concerns that rising energy costs could stoke inflation and force the US Fed to either maintain or even raise rates.

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