Gold and Silver Prices Surge Amid Middle East Tensions
Gold & Silver Surge
Gold and silver prices rose on February 25, driven by Middle East tensions and a weaker US dollar. The current market price of gold hit $5,230, while silver reached $91.18.
Gold Price Today
The price of gold rose due to safe-haven buying. The US dollar index slipped below 97.8, making gold more attractive to overseas buyers.
The April gold futures contract on MCX surged ₹1,683 per 10 grams to ₹1,61,652 per 10 grams. This increase was driven by growing tensions in the Middle East and a pullback in the US dollar index.
Silver Price Today
Silver prices also regained strength, with the March silver futures contract on Comex surging $3.7 per troy ounce to reach $91.18. If silver closes in the green, it will extend its winning run to a sixth straight session.
Over the last five trading sessions, silver has gained $14 per ounce, or 19%. This has contributed to a 15.52% jump in February so far.
Tariff Uncertainty
US President Donald Trump said that almost all countries and corporations want to stick to tariff and investment agreements previously made with Washington. Trump expressed confidence that foreign countries would honor their trade agreements and suggested that tariffs could eventually replace income taxes.
US-Iran Nuclear Talks
Tensions between Iran and the US are intensifying, as Tehran is reportedly nearing a deal with China to purchase anti-ship cruise missiles. Both the US and Iran are poised to hold further nuclear talks in Geneva on Thursday.
The upcoming round of negotiations over the future of Tehran’s nuclear program comes as the US continues to build up military forces in the region.
MCX Gold and Silver Prices
In the domestic market, the April gold futures contract on MCX surged ₹1,683 per 10 grams to ₹1,61,652 per 10 grams. The March silver futures contract regained ₹9,756 per kilogram to ₹2,70,500, recouping all of the previous day’s loss.
Future Outlook
Looking ahead, the prices of gold and silver are likely to remain volatile due to ongoing geopolitical tensions and trade uncertainty. Investors should keep a close eye on developments in the Middle East and US trade policies to make informed investment decisions.
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