Gold and Silver Price Surge Due to Geopolitical Tensions🪙 MetalsGold

Gold & Silver Surge as Iran-Israel Conflict Escalates

March 3, 2026, 06:01 AM159 words10 sources
Gold
Gold and silver prices experienced a significant surge on March 2, 2026, driven by escalating geopolitical tensions following joint US-Israeli military strikes on Iran, resulting in the death of Supreme Leader Ayatollah Ali Khamenei and subsequent retaliatory attacks. Gold futures on the MCX jumped over 5%, reaching ₹1,67,059/10g, while silver skyrocketed nearly 9% to ₹2,90,308/1kg. Globally, spot gold surpassed $5,350/oz, hitting a multi-week high. The surge reflects a flight to safety as investors seek haven assets amid fears of regional instability and potential disruptions to global oil supply, particularly through the Strait of Hormuz, which Iran has partially closed. Crude oil prices also rose sharply, exceeding 7%. Experts anticipate further price increases in precious metals if the conflict persists, citing increased risk premiums and potential inflationary pressures from rising oil prices. While some investors may consider booking profits, the prevailing sentiment leans towards holding investments given the uncertain geopolitical landscape. Shipping has been disrupted, with major companies rerouting vessels.

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