The Iran war is heating up gold! Be cautious this week, as even silver is deserting the common man..

Rising geopolitical tensions in West Asia and the Iran war have also increased the heat on precious metals like gold and silver. Investors, until now considered the safest option, will have to be approached cautiously. Experts believe that gold and silver prices could reach new highs during the business and festive week beginning Monday.

Tensions in the region have escalated following US President Donald Trump's announcement of a "major military operation" in Iran following Israeli attacks on Tehran and the confirmation of the death of Iranian Supreme Leader Ayatollah Ali Khamenei. Iran's retaliatory strikes against US military bases and Israeli targets have rattled global markets. Analysts say the impact on gold and silver prices in the domestic market will depend on how long this conflict lasts.

Gold is under pressure due to several factors.
In addition, this week's PMI data for the manufacturing and services sectors, US retail sales, and employment data will also determine the market's direction. Jatin Trivedi, Research Analyst (Commodities & Currency) at LKP Securities, said that gold and silver prices could start higher and see significant volatility as soon as the market opens on Monday. The conflict in West Asia continues to dominate global risk sentiment.

Investors are flocking to gold and silver.
He said that due to diminishing hopes for a diplomatic solution, investors are flocking to gold and silver as safe havens. The domestic commodity market will be closed on Tuesday for Holi. Last week, the silver futures price for the March contract on the Multi-Commodity Exchange (MCX) increased by Rs 22,054 (8.72%), and the gold price for the April contract increased by Rs 5,228 (3.33%).

Central banks are also responsible for raising prices. According to Pranav Meir, Vice President of JM Financial Services, the bullion market is receiving strong support from continued buying by central banks and ETFs, along with global economic uncertainty. He also said that the recent US Supreme Court ruling against Trump's trade tariffs has further increased market uncertainty. In the international market, COMEX silver futures rose 12.55%, and gold rose 3.3% last week.

Disclaimer: This content has been sourced and edited from News18 Hindi. While we have made modifications for clarity and presentation, the original content belongs to its respective authors and website. We do not claim ownership of the content.