Gold and Silver Prices Surge Amid Middle East Tensions

Gold and silver prices surged in India as investors sought safe-haven assets amidst escalating tensions in the Middle East. On the Multi Commodity Exchange (MCX), gold futures for August delivery rose by up to 1.03% or Rs 1,460 to touch an intraday high of Rs 1,42,848 per 10 grams.

Silver futures for September delivery also gained, increasing by 1.54% or Rs 3,380 to an intraday high of Rs 2,21,780 per kg. The rally in domestic bullion prices mirrored global trends as Brent crude slipped below the $90-a-barrel mark.

International gold prices also moved higher after oil prices retreated following reports that the US had ended its latest round of airstrikes targeting Iran. Commodity market experts note that bullion prices have remained volatile in recent weeks as investors weigh geopolitical risks against expectations for the US Federal Reserve's interest rate path.