Gold and silver prices surge sharply in a week amid global tensions and rising demand. Wedding season buyers worried as analysts hint at further volatility ahead.
Similarly, 10 grams of 22-carat gold rose from Rs 1,43,400 to Rs 1,46,000 during the same period, marking a rise of Rs 2,600. The sudden spike has added to the worries of consumers planning wedding purchases, as demand traditionally remains strong during this period.Silver prices have also witnessed a dramatic surge. After touching nearly Rs 4 lakh earlier this year and then slipped sharply. On February 16, silver was priced at Rs 2,65,000 per kilogram. By February 22, it had jumped to Rs 2,90,000 per kilogram, a steep rise of Rs 25,000 within a week.Analysts note that such a sharp single-week increase in recent times is unprecedented. The surge is attributed to rising international demand and strong industrial requirements. Market observers believe prices may rise further on Monday, depending on global cues.On the Multi Commodity Exchange (MCX), gold April futures are currently trading around Rs 1,56,993, while silver March futures stand at Rs 2,52,042. In the international market, gold is trading at approximately $5,108 per ounce, while silver stands at $84.62 per ounce, reflecting elevated global demandThe primary trigger behind the sharp rally appears to be escalating tensions between the United States and Iran, with reports suggesting the possibility of conflict. During periods of geopolitical uncertainty, investors tend to withdraw funds from equities and shift towards safe-haven assets like gold. This surge in investment demand has significantly pushed up prices.Additionally, speculation surrounding potential trade agreements between the United States and Russia has influenced market sentiment. Investors are seeking to capitalise on price movements ahead of any formal developments.However, market experts suggest there could be some correction next week. The impact of new tariffs announced by Donald Trump may strengthen the US dollar. A stronger dollar typically exerts downward pressure on gold prices in the global market. Analysts believe tariff-related effects could bring temporary stability to prices in the coming days.
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Gold and silver prices have surged sharply over the past week, triggering concern among buyers, especially as the wedding season begins. After witnessing a mild dip at the start of last week, gold prices rebounded unexpectedly amid rising geopolitical tensions and strong global demand.
