Gold and silver prices surge amid escalating Middle East tensions. Hyderabad sees sharp jumps in bullion rates, with further increases likely if conflict persists.
In Hyderabad, the price of 10 grams of 24-carat gold has climbed to Rs 1,68,710, marking an increase of nearly Rs 7,140 compared to the previous close. Similarly, 10 grams of 22-carat gold is now priced at Rs 1,54,650, up by around Rs 6,550. The rate of 18-carat gold has also surged, with 10 grams now costing Rs 1,26,530; an increase of approximately Rs 5,350.Silver prices have recorded an even sharper jump. In the Hyderabad bullion market, the price of silver rose by Rs 25,000 per kilogram as of 5 pm on Saturday, taking the rate to Rs 3.25 lakh per kg. Currently, silver is trading at Rs 295 per tola. Market observers caution that if the conflict continues, both gold and silver prices could rise further.The Multi-Commodity Exchange (MCX) remains closed on Saturdays and Sundays, keeping domestic futures prices steady for now. Gold April futures are currently trading at around Rs 1,61,971 on the MCX, while Silver March futures stand at Rs 2,74,389. Analysts believe Monday’s trading session could witness sharp volatility.In the international market, gold is trading at $5,278 per ounce, while silver is hovering around $93 per ounce. With war clouds gathering over the Middle East, the US-Iran conflict is expected to significantly impact global commodity and equity markets. Alongside bullion, stock markets in India and across the world may face heavy selling pressure on Monday. If the conflict drags on, analysts warn of sustained market weakness, while gold and silver could potentially scale fresh all-time highs.
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The geopolitical situation has turned volatile after the United States and Israel reportedly declared military action against Iran. On Sunday, Israel and the US announced that Iran’s Supreme Commander Khamenei had been killed in the strikes, a claim later confirmed by Iran. Tehran has since warned that it will not back down, deepening fears of prolonged conflict in the region.
