Precious metals surge over inflation concerns amid escalating Middle East tensions
Gold and silver prices surged significantly on Thursday amid escalating conflict in the Middle East, pushing investors toward safe‑haven assets.
MCX gold April futures gained 0.31 per cent to Rs 1,62,018 per 10 grams on an intra-day basis. Meanwhile MCX silver May futures gained 1.50 per cent to Rs 2,69,551 per kg.
Earlier in the day silver prices on MCX had jumped 3.3 per cent while gold advanced over 1 per cent but later dipped over mild profit booking.
Spot silver jumped 1.2 per cent to $84.43 per ounce, while spot gold climbed 0.8 per cent to $5,176.69 per ounce.