Why silver prices are rising today. Explained

Gold and silver price jumped sharply on Monday amid broad risk-off sentiment, with investors across global markets turning to safe-haven assets

Gold and silver prices jumped sharply after US and Israeli military strikes on Iran triggered a broad risk-off sentiment across global markets, pushing investors toward safe-haven assets and sending crude oil surging nearly 9 per cent in early Asian trade.

On MCX, gold crossed the ₹1,60,000 structural pivot and is now trading around ₹1,62,000, with analysts eyeing the next resistance band at ₹1,63,500–₹1,65,000. Silver has also rallied in tandem, with both precious metals expected to open with a gap-up in the next session, according to Jateen Trivedi, VP Research Analyst at LKP Securities.

The strikes have raised concerns over supply disruptions through the Strait of Hormuz, a critical oil transit route, adding further fuel to the risk-off move into bullion. Trivedi cautioned that while the momentum remains strong, any diplomatic development or sign of de-escalation over the weekend could trigger profit-taking of 3–6 per cent after an initial spike.

For India, the implications extend beyond gold prices. The country imports close to 90 per cent of its crude oil, and a sustained rise in Brent directly feeds into fuel costs, inflation, and a wider current account deficit. Rajeev Sharan, Head of Criteria, Model Development and Research at Brickwork Ratings, noted this complicates the RBI’s disinflation path and could delay rate cuts.