India’s Gold and Silver Market Reacts to Middle East Uncertainty
<p>The escalating diplomatic stand‑off between Washington and Tehran has added a new layer of caution for Indian investors. Coupled with a slight easing in crude oil prices, the environment is supportive for safe‑haven commodities on the MCX.</p><h2>Gold update</h2><p>Morning trade saw MCX gold futures climb 0.63 %, adding Rs 881 to settle at Rs 1,42,279 for 10 grams of 24 karat gold. The price sits roughly Rs 50,817 beneath the historic high of Rs 1,93,096 reached on 29 January. The 22 karat variant is quoted at Rs 1,30,420.</p><table><thead><tr><th>City</th><th>24K Gold (10 gm)</th><th>22K Gold (10 gm)</th></tr></thead><tbody><tr><td>Delhi</td><td>Rs 1,42,279</td><td>Rs 1,30,420</td></tr><tr><td>Mumbai</td><td>Rs 1,42,279</td><td>Rs 1,30,420</td></tr><tr><td>Kolkata</td><td>Rs 1,42,279</td><td>Rs 1,30,420</td></tr><tr><td>Chennai</td><td>Rs 1,42,279</td><td>Rs 1,30,420</td></tr><tr><td>Bengaluru</td><td>Rs 1,42,279</td><td>Rs 1,30,420</td></tr></tbody></table><h2>Silver performance</h2><p>Silver on the MCX posted a 1.11 % increase, rising Rs 2,675 to Rs 2,20,825 per kilogram. This level remains well under its record high of Rs 4,20,048, leaving a gap of about Rs 1,99,223. The up‑tick reflects both safe‑haven buying and expectations of revived manufacturing demand.</p><table><thead><tr><th>City</th><th>Silver (1 kg)</th></tr></thead><tbody><tr><td>Delhi</td><td>Rs 2,20,825</td></tr><tr><td>Mumbai</td><td>Rs 2,20,825</td></tr><tr><td>Kolkata</td><td>Rs 2,20,825</td></tr><tr><td>Chennai</td><td>Rs 2,20,825</td></tr><tr><td>Bengaluru</td><td>Rs 2,20,825</td></tr></tbody></table><h2>Expert commentary</h2><p>Market specialists say that warnings from Houthi rebels about a potential naval blockade of Saudi Arabian ports, combined with the prospect of stricter monetary policy from the U.S. Federal Reserve, are keeping investors anchored to gold and silver. The prevailing mix of geopolitical risk and inflation concerns is likely to sustain demand for these metals in the near term.</p>