Geopolitical Tensions Fuel Precious Metal Surge

Precious metal prices soared by over 7% in Delhi due to global trends and escalating US-Iran tensions. Silver surged to Rs 2.64 lakh/kg and gold to Rs 1.58 lakh/10g. Rising geopolitical risks and uncertainty over US military actions and stalled Russia-Ukraine talks have fueled safe-haven asset demand.

In a sharp rise driven by escalating geopolitical tensions, precious metal prices surged by over 7% in the national capital on Thursday. Silver climbed to an astounding Rs 2.64 lakh per kilogram, while gold advanced to Rs 1.58 lakh per 10 grams.

According to market experts, this spike is largely attributed to firm global trends and a scramble toward safe-haven assets amid heightened US-Iran tensions. The white metal leaped by Rs 18,000, marking a 7.32% increase, while gold purity of 99.9% also rose by Rs 1,950, translating to a 1.24% climb in value.

Internationally, spot silver traded 1.03% higher at USD 77.97 per ounce, with gold nearing USD 5,000 per ounce. Experts highlighted intensified geopolitical flashpoints and collapsing Russia-Ukraine negotiations as key factors in this price surge, prompting investors to gravitate toward traditional safe-haven assets.

(With inputs from agencies.)