New Delhi: Gold and silver prices climbed this week amid escalating conflict between the US‑Israeli combine and Iran, driving safe haven demand.
Spot gold rose around 1 per cent to $5,138.46 an ounce, while US gold futures for April delivery gained 0.5 per cent to $5,147.10. Gold has jumped 19 per cent year‑to‑date after surging 64 per cent in 2025, driven by geopolitical turmoil and strong central bank buying.
The dollar index surged 0.15 per cent to 99.20, making greenback-backed bullion expensive for buyers in overseas currencies, capping further gains in the yellow metal.
US President Donald Trump said American forces had struck numerous Iranian naval and air targets, while Iran targeted critical oil infrastructure across the Gulf region.
This led investors to pull back from equities amid fears of wider disruption to energy markets and shipping routes.
WTI crude climbed above $75 a barrel, extending a two-day gain of approximately 11 per cent. Brent traded near $81 a barrel as the widening Middle East conflict and shipping disruptions through the Strait of Hormuz kept supply risks firmly in focus.
Investors remain keen on cues from US Manufacturing and Non-Manufacturing PMI, ADP Non-Farm Employment Change and Unemployment data for assessing the direction of Federal Reserve policy.
