Gold and Silver Jump on MCX as Middle East Tensions Push Investors to Safe Havens

New Delhi | 2 March 2026 Gold and silver prices recorded a sharp rise on the Multi Commodity Exchange (MCX) on Monday as global investors moved towards safe assets amid growing geopolitical tension in the Middle East. Market volatility increased after fresh developments in the region, prompting strong buying interest in precious metals. On MCX, gold futures for April delivery surged by 3.16 per cent to trade at Rs 1,67,221 per 10 grams. Silver futures for May delivery also witnessed heavy buying, rising 3.43 per cent to Rs 2,92,347 per kg. Analysts said the rally reflected risk-averse sentiment as uncertainty around global stability continued to rise. The pressure was also visible in the currency market, with the Indian rupee weakening beyond the Rs 91 mark against the US dollar, its lowest level in nearly a month. The decline came amid fears of rising global oil prices and broader concerns linked to the Middle East crisis, which reduced appetite for riskier assets. Over the weekend, joint missile strikes by the United States and Israel on Iran reportedly killed Iran’s Supreme Leader Ali Khamenei, escalating regional tensions. Despite the surge in futures, spot gold prices eased across Indian markets, with 24-carat gold priced at Rs 1,69,800 per 10 grams and 22-carat gold at Rs 1,55,650 per 10 Gold and Silver Jump on MCX as Middle East Tensions Push Investors to Safe Havens Gold and silver prices recorded a sharp rise on the Multi Commodity Exchange (MCX) on Monday as global investors moved towards safe assets amid growing geopolitical tension in the Middle East. Market volatility increased after fresh developments in the region, prompting strong buying interest in precious metals. On MCX, gold futures for April delivery surged by 3.16 per cent to trade at Rs 1,67,221 per 10 grams. Silver futures for May delivery also witnessed heavy buying, rising 3.43 per cent to Rs 2,92,347 per kg. Analysts said the rally reflected risk-averse sentiment as uncertainty around global stability continued to rise. The pressure was also visible in the currency market, with the Indian rupee weakening beyond the Rs 91 mark against the US dollar, its lowest level in nearly a month. The decline came amid fears of rising global oil prices and broader concerns linked to the Middle East crisis, which reduced appetite for riskier assets. Over the weekend, joint missile strikes by the United States and Israel on Iran reportedly killed Iran’s Supreme Leader Ali Khamenei, escalating regional tensions. Despite the surge in futures, spot gold prices eased across Indian markets, with 24-carat gold priced at Rs 1,69,800 per 10 grams and 22-carat gold at Rs 1,55,650 per 10 grams.