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Precious metallic prices jumped 4% successful futures commercialized connected Monday, with metallic surging to ₹2.93 lakh per kilogram and golden climbing to adjacent ₹1.68 lakh per 10 grams, tracking beardown request successful the planetary markets.
Analysts said investors rushed to safe-haven assets aft the U.S. and Israel launched coordinated subject strikes connected Iran, sidesplitting Supreme Leader Ayatollah Ali Khamenei and triggering retaliatory attacks from Tehran crossed the Middle East.
Iran-Israel struggle LIVE - March 2, 2026
On the Multi Commodity Exchange, metallic futures for May transportation soared ₹10,508, oregon 3.72%, to ₹2,93,152 per kg, portion golden for the April declaration jumped ₹5,811, oregon 3.6%, to ₹1,67,915 per 10 grams.
Rally successful bullion futures accelerated successful aboriginal greeting trade, with prices jumping implicit 3% aft the U.S. and Israel launched large strikes connected Iran that killed Khamenei, marking an unprecedented escalation successful the region, Manav Modi, Commodities Analyst, Motilal Oswal Financial Services Ltd, said.
Globally, Comex metallic futures for May transportation gained $4, oregon 4.3%, to $97.30 per ounce, portion golden roseate $161.8, oregon 3.08%, to $5,409.7 per ounce.
"Gold climbed supra $5,400 per ounce, reaching an implicit one-month precocious arsenic safe-haven request intensified pursuing associated strikes by the U.S. and Israel connected Iran implicit the weekend," Jigar Trivedi, Senior Research Analyst astatine IndusInd Securities, said.
He added that the attacks escalated determination instability and disrupted maritime postulation successful the oil-rich Gulf.
Meanwhile, Iran responded with rocket strikes targeting U.S. assets crossed neighbouring countries, including the UAE, Bahrain, Kuwait, Qatar, Saudi Arabia, Jordan, Iraq and Syria.
Mr. Trivedi noted that golden logged its seventh consecutive monthly summation successful February, the longest streak since 1973, driven by rising geopolitical tensions, beardown cardinal slope purchases, and investors moving distant from sovereign bonds and currencies.
Mr. Modi of Motilal Oswal Financial Services said investors volition present show cardinal macroeconomic data, including manufacturing PMI releases from large economies aboriginal successful the day, portion the broader absorption this week volition hinge connected U.S. labour marketplace information for cues connected maturation resilience and Federal Reserve argumentation expectations.
