New Delhi, India — March 6, 2026
Precious metal prices moved higher in India as investors increasingly turned to safe-haven assets amid escalating geopolitical tensions in West Asia. Silver recorded a sharp rise, while gold also climbed, reflecting growing global demand for bullion during periods of uncertainty.
Market participants say geopolitical risks and fluctuations in the US dollar are currently influencing the movement of precious metal prices worldwide.
Silver Jumps ₹5,800 Per Kilogram
According to the latest update from the bullion market, silver prices surged by ₹5,860 to reach ₹2.68 lakh per kilogram. The strong rise reflects increased demand for precious metals as investors seek stability during volatile global conditions.
Gold prices also moved higher, gaining ₹980 to reach ₹1.61 lakh per 10 grams.
Analysts say safe-haven buying typically increases when geopolitical tensions rise or when financial markets face uncertainty.
Sharp Decline Recorded in Previous Session
The price increase follows a significant drop recorded in the bullion market a day earlier.
On Thursday, gold prices fell sharply by ₹7,600 per 10 grams, bringing 99.9% purity gold down to ₹1,65,200 per 10 grams.
Silver experienced an even steeper decline in the previous session. The metal dropped ₹27,700 or 9.23% to ₹2,72,300 per kilogram (including taxes).
Such volatility reflects rapidly changing global market sentiment and shifts in investor positioning.
Global Gold and Silver Market Update
In international markets, spot gold remained largely stable at $5,076.09 per ounce.
Meanwhile, US gold futures for April delivery rose 0.1% to $5,084.50 per ounce.
Silver also recorded a modest gain globally, with spot silver rising 0.1% to $82.26 per ounce.
Gold Prices Up Nearly 18% This Year
Gold has been on a strong upward trajectory in 2026. Market data indicates that gold prices have increased by nearly 18% so far this year, repeatedly touching new record levels.
Experts attribute the rally to ongoing geopolitical tensions, economic uncertainty, and increased safe-haven demand from global investors.
Dollar Index Weakens, Supporting Bullion Demand
The US dollar index also declined, making dollar-denominated commodities like gold and silver relatively cheaper for investors holding other currencies. This typically boosts global demand for bullion metals.
Rising Geopolitical Tensions Add Market Uncertainty
Geopolitical tensions in West Asia have intensified, adding further uncertainty to global markets. Iran has reportedly launched attacks targeting Israel, the United Arab Emirates, and Qatar.
US Defense Secretary Pete Hegseth and Admiral Brad Cooper, who oversees US forces in the region, stated that the United States maintains sufficient military resources to continue operations in the area if necessary.
Analysts note that such geopolitical developments often drive investors toward precious metals, which are traditionally considered safe-haven assets during periods of instability.
