New Delhi, March 4: Gold and silver prices climbed over 1 per cent on Wednesday amid escalating conflict between the US‑Israeli combine and Iran, driving safe haven demand.
MCX gold April futures gained 1.04 per cent to Rs 1,62,790 per 10 grams around 11.30 am on an intraday basis. Meanwhile MCX silver May futures gained 1.84 per cent to Rs 2,70,200 per kg.
Increased tensions in the Middle East and chances of energy disruption pushed investors toward safe‑haven assets and while concerns about inflation in the US led to investors considering prospects of the US Federal Reserve keeping interest rates unchanged for longer.
Gold and silver exchange-traded funds (ETFs), however, saw a steep correction on Wednesday despite gains in precious metals. Major silver ETFs dipped 7.12 per cent to 7.43 per cent, while Gold ETFs dropped between 3–3.87 per cent. Spot gold rose around 1 per cent to $5,138.46 an ounce, while US gold futures for April delivery gained 0.5 per cent to $5,147.10. Gold has jumped 19 per cent year‑to‑date after surging 64 per cent in 2025, driven by geopolitical turmoil and strong central bank buying. (IANS)
