Silver Soars as Geopolitical Tensions Rise

Silver prices increased by Rs 1,844 to Rs 2.67 lakh per kilogram in futures trade due to firm global trends. This rise was influenced by geopolitical tensions in the Middle East. While silver tracked gains, gold prices slightly decreased. Investors are turning to precious metals for safe-haven investments.

Silver prices saw a notable increase of Rs 1,844, reaching Rs 2.67 lakh per kilogram on Thursday amidst growing geopolitical tensions in the Middle East, prompting investors to seek safe-haven assets.

At the Multi Commodity Exchange (MCX), the white metal for May delivery surged by 0.69 percent in a business turnover of 6,353 lots. Analysts attribute the rise to jitters over a potential prolonged conflict involving Iran, which has spiked demand for precious metals.

Gold, meanwhile, experienced a slight dip in futures as April deliveries fell Rs 210. The move in precious metals comes as the US plans to impose a temporary global tariff, intensifying the market focus on economic uncertainties.

(With inputs from agencies.)