On the Multi Commodity Exchange of India (MCX), gold futures for April 2026 delivery surged Rs 5,811, or 3.5 per cent, to trade at Rs 1,67,915 per 10 grams in early trade. Silver futures for the March 5, 2026 contract climbed Rs 9,492, also up 3.5 per cent, to Rs 2,84,490 per kilogram
Gold and silver prices witnessed a sharp rally on Monday as investors flocked to safe-haven assets following large-scale strikes by the United States and Israel on Iran that killed Supreme Leader Ali Khamenei, escalating geopolitical tensions in the Middle East.
On the Multi Commodity Exchange of India (MCX), gold futures for April 2026 delivery surged Rs 5,811, or 3.5 per cent, to trade at Rs 1,67,915 per 10 grams in early trade. Silver futures for the March 5, 2026 contract climbed Rs 9,492, also up 3.5 per cent, to Rs 2,84,490 per kilogram.
The sharp gains reflect heightened uncertainty in global financial markets, with investors shifting allocations toward traditional safe-haven instruments amid fears of a prolonged conflict in the oil-rich region.
International prices spike
In global markets, spot gold advanced 1 per cent to $5,329.39 an ounce as of 0201 GMT, after touching its strongest level in over four weeks. During the session, bullion prices had jumped as much as 2 per cent.
US gold futures rose 1.8 per cent to $5,342.80 per ounce, tracking the surge in spot prices.
Market participants said the rally was driven by concerns over potential disruptions in crude oil supplies and broader economic instability. The Middle East remains central to global energy flows, and any escalation threatens to stoke inflationary pressures worldwide.
Safe-haven demand returns
Gold is traditionally viewed as a hedge against geopolitical risk and currency volatility. The renewed hostilities have added to existing macroeconomic uncertainties, prompting investors to rebalance portfolios toward precious metals.
Silver, which often mirrors gold’s movement during periods of heightened uncertainty, also gained strongly on both domestic and international exchanges.
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