Gold and silver prices are expected to open sharply higher on Monday as escalating tensions between Israel and Iran drive investors towards safe-haven assets, market experts said on Saturday.
The surge in geopolitical uncertainty follows Israel’s “preventive” strikes on Iran, which triggered fears of a broader regional conflict. Analysts said heightened risk sentiment typically pushes investors toward bullion, considered a hedge during periods of instability.
“The escalation in the conflict is expected to fuel uncertainty in global financial markets. Investors are likely to increase exposure to gold and silver, and we anticipate a gap-up opening in precious metals,” a market expert said.
On the global front, COMEX gold is currently facing resistance around $5,300 per ounce. Analysts noted that a sustained breakout above this level could push domestic gold prices to the Rs 1,68,000–Rs 1,70,000 per 10 grams range.
On the domestic exchange, MCX Gold has moved decisively above the Rs 1,60,000 mark after breaking out of a consolidation phase. Prices are stabilising near Rs 1,62,000. Analysts believe that as long as gold holds above Rs 1,60,000, it could move towards Rs 1,63,500–Rs 1,65,000 in the near term.
Silver has also witnessed strong momentum. MCX Silver has rallied towards the Rs 2,80,000–Rs 2,85,000 range. If prices sustain above key support levels, analysts expect further gains towards Rs 2,90,000–Rs 2,95,000.
Earlier, the Israel Defense Forces (IDF) said air raid sirens were sounded across Israel as a precautionary measure amid the escalating conflict.
Market participants will closely monitor geopolitical developments and global risk sentiment when trading resumes.
— IANS
