Middle East flashpoint erupts: Following Israel’s missile barrage on Iran, market watchers predict a surge in gold and silver values driven by safe-haven buying frenzy.
Explosions lit up Tehran skies on Saturday, intensifying Israel-Iran hostilities and stoking global risk aversion. Precious metals are the clear beneficiaries, with Monday’s open tipped for gains.
Experts highlight intertwined US-Iran dynamics: ‘Uncertainty reigns, channeling funds into gold and silver. Sharp upticks await.’
Overseas, gold futures eye $5,300/oz breakout, translating to domestic spikes up to ₹1,70,000/10g. MCX action confirms: gold above ₹1,60,000 at ₹1,62,000, eyeing ₹1,65,000.
Silver powers ahead to ₹2,80,000-₹2,85,000, with experts projecting ₹2,90,000-₹2,95,000 on bullish continuation.
Israel’s response was swift—countrywide sirens and IDF mobile alerts directing civilians to safety. Platforms like X amplified the alerts, underscoring the peril.
This confluence of events underscores precious metals’ role in portfolios during crises. As traders position for volatility, gold and silver’s trajectory points upwards, offering a hedge against escalating conflicts.