{"id":"f-8b070c46fc-e10c0a8d-e9fa-5c11-b54f-3f5a7577c688","title":"Silver, gold futures surge 4 pc as US-Israel strikes on Iran trigger safe-haven rush","description":"New Delhi, Mar 2 (PTI) Precious metal prices jumped 4 per cent in futures trade on Monday, with silver surging to Rs 2","timestamp":1772435982,"category":"business","headline":"Silver, gold futures surge 4 pc as US-Israel strikes on Iran trigger safe-haven rush","modifiedHeadline":"War Tensions Trigger Massive Gold, Silver Surge","subCategories":["scid_6a7129b0"],"subcategoriesName":["Other"],"region":"IN","bundleMetaData":{"bundleId":"ece1ae3d-908e-48c7-9e53-a4aa910ee4db","bundleTitle":"Grow Your Money","cardData":null},"iabCategoryId":"81","fcSummary":"bullion prices surged, with silver reaching rs 2.93 lakh/kg and gold near rs 1.68 lakh/10 grams, driven by international demand and escalating geopolitical tensions. coordinated us-israel strikes on iran, resulting in the supreme leader's death and retaliatory attacks, triggered a rush to safe-haven assets. gold hit a one-month high, marking its seventh consecutive monthly gain.","summary":"Iran strikes spark safe-haven rush: Silver jumps 4%, gold nears 1-month high amid US-Israel conflict & regional instability.","ctaUrl":"https://trends.glance.com/newz/India_News/IN/en/pti/f-8b070c46fc-e10c0a8d-e9fa-5c11-b54f-3f5a7577c688","sourceUrl":"http://www.ptinews.com","bannerImage":"https://g-mob.glance-cdn.com/public/dynamic/720x1280/26344c2c9cd36c4074e6b8937bc6a2920dfdf657.webp","content":"

New Delhi, Mar 2 (PTI) Precious metal prices jumped 4 per cent in futures trade on Monday, with silver surging to Rs 2.93 lakh per kilogram and gold climbing to near Rs 1.68 lakh per 10 grams, tracking

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strong demand in the international markets.

Analysts said investors rushed to safe-haven assets after the US and Israel launched coordinated military strikes on Iran, killing Supreme Leader Ayatollah Ali Khamenei and triggering retaliatory attacks from Tehran across the Middle East.

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On the Multi Commodity Exchange, silver futures for May delivery soared Rs 10,508, or 3.72 per cent, to Rs 2,93,152 per kg, while gold for the April contract jumped Rs 5,811, or 3.6 per cent, to Rs 1,67,915 per 10 grams.

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Rally in bullion futures accelerated in early morning trade, with prices jumping over 3 per cent after the US and Israel launched major strikes on Iran that killed Supreme Leader Ayatollah Ali Khamenei, marking an unprecedented escalation in the region, Manav Modi, Commodities Analyst, Motilal Oswal Financial Services Ltd, said.

Globally, Comex silver futures for May delivery gained USD 4, or 4.3 per cent, to USD 97.30 per ounce, while gold rose USD 161.8, or 3.08 per cent, to USD 5,409.7 per ounce.

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\"Gold climbed above USD 5,400 per ounce, reaching an over one-month high as safe-haven demand intensified following joint strikes by the US and Israel on Iran over the weekend,\" Jigar Trivedi, Senior Research Analyst at IndusInd Securities, said.

He added that the attacks escalated regional instability and disrupted maritime traffic in the oil-rich Gulf.

Meanwhile, Iran responded with missile strikes targeting US assets across neighbouring countries, including the UAE, Bahrain, Kuwait, Qatar, Saudi Arabia, Jordan, Iraq and Syria.

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Trivedi noted that gold logged its seventh straight monthly gain in February, the longest streak since 1973, driven by rising geopolitical tensions, strong central bank purchases, and investors moving away from sovereign bonds and currencies.

Modi of Motilal Oswal Financial Services said investors will now monitor key macroeconomic data, including manufacturing PMI releases from major economies later in the day, while the broader direction this week will hinge on US labour market data for cues on growth resilience and Federal Reserve policy expectations. PTI HG HVA

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Silver, gold futures surge 4 pc as US-Israel strikes on Iran trigger safe-haven rush

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