Escalating Conflict in the Middle East Boosts Safe-Haven Assets MCX gold price jumped sharply higher on Monday.
Traders pushed the MCX gold price to open at Rs 1,65,501 per 10 grams. This level marks a significant rise from the previous close of Rs 1,62,104. Investors reacted quickly to major strikes by the US and Israel on Iran. Those strikes killed Supreme Leader Ayatollah Ali Khamenei.
Iran launched missile barrages in response. These events intensify uncertainty for the global economy. International spot gold rallied one per cent to reach $5,329.39 an ounce. Bullion hit its highest point in more than four weeks during the session. US gold futures advanced 1.8 per cent to $5,342.80 per ounce. Silver prices jumped as much as 2.8 per cent to $96.4 an ounce.
On the domestic front, MCX silver price opened at Rs 2,82,644 per kilogram. The white metal registered a three per cent gain overall. Gold prices achieved their seventh consecutive monthly gain in February. This run represents the longest streak since 1973. Central banks maintain steady purchases of gold. Investors shift funds away from sovereign bonds and major currencies.
The yellow metal delivered a 64 per cent surge in 2025. Analysts at JP Morgan and Bank of America forecast higher levels for gold. They see prices climbing toward the key $6,000 mark. JP Morgan specifically predicts enough demand to drive gold to $6,300 per ounce by the end of 2026. Jigar Trivedi works as a Senior Research Analyst at IndusInd Securities. He expects the MCX gold price for April futures to appreciate to ₹1,64,000 per 10 grams. He views Rs 1,60,000 as a solid floor level.
For silver, Trivedi notes the MCX silver price for May futures may stay elevated. The level of Rs 2,84,000 per kg acts as resistance now. Market participants track the fast-developing situation in the Middle East with close attention.
