Gold and silver prices surged in early trade on Thursday as rising geopolitical tensions in the Middle East boosted demand for safe-haven assets. Investors turned to precious metals amid uncertainty surrounding the conflict involving the United States, Israel and Iran, which has heightened volatility in global financial markets.
On the Multi Commodity Exchange (MCX), gold futures for April delivery traded between a low of ₹1,61,525 and a high of ₹1,63,142 per 10 grams during the session. The metal opened higher at around ₹1,62,750 per 10 grams, extending gains from the previous trading day.
Silver prices also saw strong buying interest. MCX silver futures for May delivery moved between ₹2,65,466 and ₹2,74,251 per kilogram in early trade, reflecting a sharp rally as investors increased their exposure to bullion.
Analysts said the rise in gold and silver prices was largely driven by safe-haven demand amid escalating geopolitical tensions and uncertainty in global markets. A softer US dollar and volatility in equity markets also supported the upward momentum in precious metals.
In the physical market, gold prices across major Indian cities remained elevated. 24-carat gold traded around ₹1.66-₹1.67 lakh per 10 grams, while 22-carat gold hovered above ₹1.53 lakh per 10 grams, depending on city-wise taxes and jewellers’ margins.
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