Gold and silver prices have surged sharply on Monday amid the escalating conflict between Iran, Israel, and the United States, driving strong safe-haven demand as investors seek refuge from geopolitical uncertainty.
The yellow metal rose by over 2–3 per cent in early trade, while the white metal recorded substantial gains of around 3–3.6 per cent.
On the Multi Commodity Exchange of India (MCX), gold futures for April 2026 delivery climbed by more than ₹5,811 (up 3.5 per cent), trading at Rs 167,915 per 10 grams in early sessions (with peaks around ₹167,286 reported intraday).
Silver futures for the March 5, 2026 contract also advanced steeply, rising ₹9,492 (or 3.5 per cent) to ₹284,490 per kilogram (with some reports showing surges to ₹292,887 or higher).
“The ongoing war in the Middle East poses significant geopolitical shock risk, with oil prices touching new highs while strengthening investor confidence in safe-haven assets like gold and silver,” analysts noted.
Prices are expected to remain elevated until de-escalation occurs through negotiations between the conflicting parties.
India, heavily dependent on crude oil imports, faces added pressure from rising crude costs— experts forecast potential major hikes in the near term, straining the economy further amid a weakened rupee.
This dynamic is likely to fuel continued buying in gold and silver until the regional situation stabilises, particularly if Iran does not fully shut down the Strait of Hormuz (though threats and disruptions have already intensified supply concerns).
The surge follows large-scale US-Israeli attacks on Iran over the weekend, which resulted in the death of Supreme Leader Ayatollah Ali Khamenei and prompted Iranian retaliatory strikes, heightening global risk aversion.
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