Gold and silver prices jumped sharply on Monday as escalating military action by the United States and Israel against Iran pushed geopolitical tensions in West Asia to a peak, prompting investors to shift toward safe-haven assets.

On the Multi Commodity Exchange (MCX), gold futures for April 2026 delivery rose by ₹5,811 per 10 grams, taking the price to ₹1,67,915 per 10 grams- a gain of nearly 3.5%. Silver futures for March 2026 delivery climbed ₹9,492, pushing prices to ₹2,84,490 per kilogram.

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Market experts said the spike reflects a flight to safety, as investors move away from riskier assets such as equities amid growing uncertainty in the region. In the international market, spot gold rose 1% to $5,349.44 per ounce- its highest level in four weeks. Spot silver also gained 2%, reaching $95 per ounce.

Ross Norman, an analyst quoted by Reuters, said, “Gold is one of the most important indicators of global economic uncertainty. In the current situation, gold prices could touch new records.”

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Analysts believe volatility may continue in the coming days due to fluctuations in the dollar index, ongoing US-Iran tensions, and upcoming global economic data releases. Manoj Kumar Jain of Prithvi Finmart said silver may find strong support near $84 per ounce, while gold could see further upside if it remains above $5,122.

With geopolitical uncertainty still unfolding, precious metals are likely to remain in focus for investors seeking stability.

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