Gold Crosses Rs 1.42 Lakh, Silver Near Rs 2.28 Lakh On Safe-Haven Buying

Gold and silver prices climbed sharply on Friday as investors increased their demand for safe-haven assets amid persistent uncertainty surrounding the West Asia conflict.

Weak risk sentiment and fading hopes of de-escalation supported the rally in precious metals across both domestic and global markets.

Gold futures for April delivery surged by over 2 per cent on the Multi-Commodity Exchange, reaching an intraday high of Rs 1,42,660 per 10 grams before settling slightly lower at around Rs 1,42,500.

Despite intraday fluctuations, the metal maintained strong gains, reflecting sustained investor interest.

Silver futures for May delivery also recorded significant gains, rising by nearly 3 per cent to trade close to Rs 2,27,800 per kg after touching a session high of Rs 2,27,901.

The upward momentum highlighted strong buying activity in the white metal.

Analysts attributed the rally to geopolitical tensions, which have kept global markets cautious and encouraged investors to shift towards relatively safer assets.

In international markets, COMEX gold traded within the $4,400–$4,500 range, showing resilience despite broader volatility.

Experts indicated that gold could face resistance near $4,600, with potential to rise further if momentum sustains, while downside risks remain if prices fall below key support levels.

On the domestic front, MCX gold held firmly above Rs 1,40,000, signalling underlying strength.

Similarly, silver prices remained supported, with global and domestic levels indicating further upside potential if resistance thresholds are breached.

Analysts, however, cautioned that price movements are likely to remain volatile in the near term, driven by macroeconomic trends and geopolitical developments.

Meanwhile, global crude oil prices declined, with Brent crude trading lower, reflecting mixed signals across commodity markets.

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