Monday’s markets were ablaze as Israel-Iran hostilities propelled gold and silver to dizzying heights. In a flight to safety, 24-carat gold vaulted ₹8,374 higher to ₹1,67,471 per 10 grams, up from Friday’s ₹1,59,097. Silver followed with a whopping ₹23,148 gain to ₹2,89,848 per kg.
IBJA figures paint a vivid picture: 22-carat gold rose from ₹1,45,733 to ₹1,53,403 per 10 grams; 18-carat from ₹1,19,323 to ₹1,25,603. The rally underscores gold’s status as the ultimate crisis asset.
Domestic futures markets mirrored the surge – MCX gold April 2026 up 4.09% at ₹1,68,740; silver May 2026 up 4.49% at ₹2,95,336. Global benchmarks on Comex showed gold at $5,397/oz (+2.78%) and silver at $95.09/oz (+1.90%).
At the heart of this upheaval is the spiraling Israel-Iran conflict, raising specters of regional war. LKP Securities analyst Jatin Trivedi explained, ‘Tensions with US, Israel, and Iran are fueling the rally. Watch global data for cues – support at ₹1,64,000; resistance at ₹1,72,000.’
For Indian households and investors, the implications are profound. Higher prices could dampen physical demand but boost paper trading. As the world holds its breath on Middle East diplomacy, gold remains a beacon of stability in stormy economic seas, reminding us why it’s called the king of metals.