New Delhi: Precious metal prices surged sharply in the national capital on Monday, with silver touching Rs 3 lakh per kilogram and gold nearing Rs 1.73 lakh per 10 grams, as investors rushed to safe-haven assets amid rising tensions in the Middle East.
Silver Jumps Nearly 12 percent
According to the All India Sarafa Association, silver rose by Rs 32,000, or 11.94 percent, to Rs 3,00,000 per kg (inclusive of all taxes), up from Rs 2,68,000 in the previous session. The sharp rally reflects strong investor demand amid global uncertainty.
Gold Climbs Close to Rs 1.73 Lakh
Gold of 99.9 percent purity increased by Rs 8,100, or 4.92 percent, to Rs 1,72,800 per 10 grams (inclusive of all taxes), compared to Rs 1,64,700 per 10 grams on Friday.
Market experts said the rally was driven by rising geopolitical tensions after coordinated military strikes by the United States and Israel on Iran over the weekend. The situation intensified following reports of the death of Iran’s Supreme Leader Ayatollah Ali Khamenei, triggering volatility in global financial markets.
Global Prices Also Rise
In international markets, spot gold rose by USD 116.38, or 2.21 percent, to USD 5,394.28 per ounce. Silver gained 1.43 percent to USD 95.19 per ounce.
Analysts said gold climbed above USD 5,400 per ounce, marking its highest level in two months, as investors shifted funds away from equities and into traditional safe-haven assets.
Wider Conflict Raises Global Concerns
Meanwhile, Iran launched retaliatory strikes targeting US military and strategic assets across several countries in the region, including the UAE, Bahrain, Kuwait, Qatar, Saudi Arabia, Jordan, Iraq and Syria. The widening conflict has raised fears of disruption to energy infrastructure and global trade routes.
Experts said the escalation has led to a broad “risk-off” sentiment in global markets, with equities under pressure and capital flowing into gold and silver.
Market participants are also closely watching upcoming US economic data, including manufacturing and services PMI, ADP non-farm employment figures and unemployment data, which may further influence price movements and expectations around US Federal Reserve policy.
