IBNS-CMEDIA: Prices of precious metals surged sharply on Monday as investors sought safe-haven assets amid rising geopolitical tensions in the Middle East, media reports said.
Gold climbed to Rs. 1.68 lakh per 10 grams, while silver rose to Rs. 2.93 lakh per kilogram, according to The Hindu. On the Multi Commodity Exchange, silver futures for May delivery gained 3.72%, while gold for April contracts jumped 3.6%.
The rally comes in the wake of heightened hostilities following a joint military strike by the United States and Israel on Iran, which reportedly killed Supreme Leader Ali Khamenei. Iran responded with ballistic missile and drone attacks on Israeli cities and US military bases in the region.
Further escalation occurred as Hezbollah launched attacks on Israel, claiming retaliation for the deaths of senior Iranian leaders. Israel, in turn, struck Hezbollah targets in Beirut and southern Lebanon.
The broader Iran–Israel conflict intensified on February 28, 2026, with multiple strikes targeting Iranian military, nuclear, and leadership infrastructure.
The retaliatory attacks by Iran on US and allied bases across Gulf countries have further widened the conflict.
Amid these tensions, investors have increasingly turned to precious metals as a hedge against uncertainty, driving up prices sharply.
