Silver hits Rs 3 lakh/kg, gold nears Rs 1.73 lakh/10g amid...

Key Highlights

• It had settled at Rs 1,64,700 per 10 grams in the previous market session.
• “Gold and silver prices witnessed a sharp surge on Monday, as rising geopolitical tensions in the Middle East triggered aggressive safe-haven buying.
• “The escalation followed coordinated military strikes by the United States and Israel on Iran over the weekend, resulting in the death of Supreme Leader Ayatollah Ali Khamenei, rattling global financial markets and prompting a swift shift towards bullion,” Gaurav Garg, Research Analyst at Lemonn Markets Desk, said.
• In the international market, spot gold gained USD 116.38, or 2.21 per cent to USD 5,394.28 per ounce, while silver was trading 1.43 per cent higher at USD 95.19 per ounce.
• “Spot gold rallied more than 2 per cent on Monday, climbing around the USD 5,400 per ounce mark to reach its highest level in two months, as a sharp escalation in Middle East tensions fuelled strong safe-haven demand,” Saumil Gandhi, Senior Analyst – Commodities at HDFC Securities, said.