West Asia tensions push gold, silver higher
Gold and silver prices surged on Friday amid rising tensions in West Asia and a weaker US dollar. On the Multi Commodity Exchange (MCX), gold futures for April delivery rose to an intraday high of ₹1,61,250 per 10 grams, while silver futures jumped nearly 3% to ₹2.68 lakh per kg.
In global markets, COMEX gold climbed above $5,150 per ounce and COMEX silver rose to around $84.40 per ounce.
The rally in precious metals comes as the ongoing conflict involving Iran and the United States escalates in West Asia, with concerns over oil supply after Strait of Hormuz was reportedly closed. A weaker dollar also supported the gains.
