Theodore
Gold, silver rate today LIVE:Iran Israel tension spurs safe haven buying- Sot Silver touches intra-day high of $96/oz
Heightened geopolitical tension and conflict across West Asia lead to a sharp surge in gold and silver rate today.
On February 28, the US and Israel launched attacks against Iran, resulting in the death of the country’s Supreme Leader, Ayatollah Ali Khamenei.
Analysts have said that this has escalated the safe-haven demand for these assets, and precious metals are likely to witness volatile trading sessions. In international markets, spot gold is currently trading near its weekly record high of $5,350/oz.
The yellow metal’s restless cousin, silver, is currently trading near the $94/oz mark. In a report published by Financial Express.com, analysts said that if silver hurdles past the $95/oz mark, the white metal is likely to breach the $100/oz mark yet again.
“History suggests that geopolitically driven spikes tend to be sharp but temporary. As and when the ground situation in Iran stabilizes, risk premiums should gradually unwind, allowing prices to cool off from elevated levels,” said Anindya Banerjee, Head of Currency & Commodity Research at Kotak Securities.
He added that gold and silver may also witness an initial spike driven by safe-haven flows. However, geopolitical surges typically lack sustainability unless accompanied by structural monetary or macro shifts. Therefore, some cooling off after the initial surge cannot be ruled out.
Over the medium to long term, he expects a constructive outlook for precious metals. “We continue to expect gold to move toward $6,000 by 2026 and silver to test $105 this year, driven by deeper structural themes rather than episodic geopolitical flare-ups,” Banerjee said.
While the outlook for gold and silver remains strong, a series of stronger-than-forecast US key economic indicators may weigh on the spike. Experts have said that earlier rallies have already pushed precious metals to their record high sessions.
“However, the impact may not be uniform — if over the weekend there are diplomatic developments or indications of de-escalation, precious metals could see profit-taking after an initial spike of 3–6%,” said Jateen Trivedi, VP – Research Analyst (Commodity and Currency), LKP Securities.
Live Updates
In international markets, spot silver jumped to an intra-day high of $96/oz mark amid the escalated geopolitical tensions, nearing the crucially important $100/oz marks.
Kaynat Chainwala, AVP Commodity Research, Kotak Securities, said that for silver to breach the $100/oz mark, it would first have to hurdle past the $95/oz level.
“On COMEX, silver would need a sustained close above $92 to target $95, and only if it closes and holds above $95 would it open the way toward $100,” the analyst said
Analysts have said that gold and silver prices may record new highs amid the escalated geopolitical tensions.
American Stockbroker, Peter Schiff has commented on the rise in gold, silver and oil. In a social media post on X, Schiff added that gold is up by $100, while silver is over $2
https://twitter.com/PeterSchiff/status/2028257235156021306?s=20
Gold, Silver Rate Today Live: Curbs over physical gold flows from Dubai
According to a report published by Reuters, physical gold flows from Dubai’s bullion trading hub will be curbed in the incoming days over cancelled flights amidst the ongoing tensions over the US and Israeli strikes on Iran.
It is to be noted that Dubai is a major gold supplier to India. Also, gold travels by plane due to security and insurance issues.
Reuters quoting its source added that this may affect the global gold supply. However, the impact will depend on the level of disruption, it added.
“The major locations – China, India, New York, London and Zurich – are still okay,” Reuters quoted a precious metals trader as saying.
“As global equities and risk assets come under pressure, capital tends to shift into precious metals, which act as a hedge against uncertainty. ” Jateen Trivedi, VP Research Analyst- Commodity and currency, LKP Securities explained.
He added that earlier moves have already pushed gold and silver prices higher in recent sessions, and this momentum could continue if the conflict intensifies further.
Amid escalating geopolitical tensions surrounding US and Israeli attacks on Iran, precious metals, gold and silver are the centre of focus. In international markets, spot gold is currently trading near the $5,331/ oz mark, while spot silver is trading near the $93/oz mark.
Experts have said that geopolitical uncertainties in the Middle East are set to weigh on the sentiment and keep the outlook for precious metals constructive.
