Commodity Markets React to Geopolitical Tension as Gold Hits ₹1.43 Lakh, Silver Over ₹2.23 Lakh

Gold and silver prices in India surged for a second consecutive session on Tuesday, driven by fresh concerns over U.S.–Iran relations. The 24‑carat gold spot rate climbed to ₹1,43,137 per 10 grams, up 0.61 % from the previous ₹1,42,254. Meanwhile, 22‑carat gold was quoted at ₹1,31,113 per 10 grams and 18‑carat at ₹1,07,353 per 10 grams.

Silver’s market price broke the ₹2.23 lakh threshold, reaching ₹2,23,204 per kilogram, a 1.65 % increase over the earlier ₹2,19,575. On MCX, the August 5, 2026 gold futures contract posted a modest 0.82 % rise to ₹1,42,550 per 10 grams, while the September 4, 2026 silver futures surged 2.13 % to ₹2,23,057 per 10 grams.

Internationally, COMEX quoted gold at $4,064 per ounce (+1.22 %) and silver at $59 per ounce (+3.54 %). Experts say the renewed appetite for safe‑haven metals reflects investors’ desire to shield portfolios from the volatility caused by the emerging geopolitical friction. Forecasts indicate gold may hover between ₹1,41,000 and ₹1,45,000 per 10 grams in the short term.