New Delhi — March 2, 2026
Precious metal prices surged sharply on Monday as rising tensions in West Asia triggered a spike in safe-haven demand.
Silver recorded a massive jump of ₹10,460, climbing to ₹2.92 lakh per kilogram in the domestic market. Gold prices also saw a strong rally, rising ₹5,260 to reach ₹1.67 lakh per 10 grams.
The sharp increase reflects growing investor concern over geopolitical uncertainty and its potential impact on global financial markets.
International Market Update
In global trade, gold futures on COMEX surged to $5,400 per ounce, gaining more than 2.5% in intraday trading.
Silver also opened sharply higher, touching an intraday high of $96.93 per ounce, reflecting nearly a 2% gain.
Market analysts attribute the rally to increased risk aversion among investors amid escalating geopolitical developments.
What’s Happening in West Asia?
According to reports, diplomatic talks between Washington and Tehran are expected to continue next week. Oman, acting as mediator, has indicated progress in negotiations. However, U.S. officials are reportedly cautious about the pace of advancement.
Meanwhile, rising tensions involving the United States, Israel, and Iran have added volatility to global markets. This uncertainty has directly fueled demand for gold and silver as protective assets.
Gold Up Over 20% This Year
Gold prices have already climbed more than 20% year-to-date and have stabilized above the $5,000 per ounce mark internationally.
Despite a pullback from record highs at the end of January, gold has now posted gains for seven consecutive months — marking the longest rally since 1973.
Analysts cite several drivers behind the sustained uptrend:
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Ongoing geopolitical tensions
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Global trade uncertainties
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Concerns over U.S. dollar depreciation
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Questions regarding central bank independence
These factors continue to support a multi-year bullish cycle in precious metals.
Market Outlook
While volatility remains elevated, analysts suggest that gold and silver prices will continue to respond sharply to geopolitical updates and global macroeconomic signals.
Investors are advised to monitor developments closely and evaluate risk exposure carefully during periods of heightened uncertainty.
