Gold, silver prices surge as global tensions spark safe-haven buying

Gold and Silver Rates: On Monday, yellow and white metal prices experienced a significant jump, as investors moved to the safe-haven assets due to the increasing global tensions. The price hike followed the news about the United States arresting Venezuelan President Nicolas Maduro over the weekend, which contributed to the already unstable global political situation.

Precious metals also gained support from ongoing geopolitical risks, expectations of US interest-rate cuts, and a weaker Indian rupee against the US dollar.

MCX gold and silver rise sharply, but stay below record highs

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On the Multi Commodity Exchange (MCX), gold February futures rose 1.47 per cent to Rs 1,37,750 per 10 grams around 1:30 p.m. Silver March futures climbed even higher, gaining 2.92 per cent to Rs 2,43,223 per kg.

However, both metals were still trading below their December 2025 record highs. Gold had earlier touched a lifetime high of Rs 1,40,465 per 10 grams, while silver had peaked at Rs 2,54,174 per kg.

During intra-day trade, prices moved higher but failed to hold on to those levels as some profit-taking emerged.

According to data from the India Bullion and Jewellers Association (IBJA), the price of 24-carat gold stood at Rs 1,35,721 per 10 grams on Monday, up from Rs 1,34,415 on the previous closing day, IANS reported.

Global factors push gold higher in international markets

In the international market, US spot gold surged 1.5 per cent to $4,395.35 per ounce, while February gold futures climbed above $4,418 per troy ounce.

The US action in Venezuela added to existing factors supporting bullion prices. These include uncertainty around Russia-Ukraine peace talks, hopes of further US Federal Reserve rate cuts, and strong retail demand.

Peace talks between Russia and Ukraine appeared uncertain after Russia claimed a drone attack on the Russian President’s residence, further raising concerns among global investors.

Support and resistance levels to watch

Market analysts said that ongoing geopolitical tensions could support gold and silver prices at lower levels.

“Gold has support between Rs 1,35,550 and Rs 1,34,710, while resistance is seen at Rs 1,38,150 to Rs 1,39,100. Silver has support at Rs 2,33,150 to Rs 2,31,780, and resistance at Rs 2,37,810 and Rs 2,39,970,” an analyst said to IANS.

US data in focus this week

Investors are now closely watching upcoming US economic data, including ISM Manufacturing, ADP employment numbers, JOLTS job openings, and the non-farm payrolls report. These figures could provide fresh clues on the future path of US interest rates.

The yellow metal has gained nearly 66 per cent in calendar year 2025, crossing $4,500 per ounce, while silver has outperformed with a massive 171 per cent rise, driven by safe-haven demand, heavy central-bank buying, and supply shortages in industrial metals.