Gold Prices Today | Iran War Impact On Gold, Silver Prices: How Will The Indian Stock Market React

Описание: A sharp surge in safe-haven demand following the unprecedented escalation in West Asia is likely to accelerate the prices of precious metals on Monday, analysts said. Both, gold and silver, are poised to open higher as global markets will react to the outbreak of war between the United States and Iran.

Dharmesh Bhatia, Director of Emirates Investment Bank, told NDTV Profit that the geopolitical risk premium is now the primary driver for bullion. Bhatia noted that the prices already saw a significant pre-strike surge on Friday, a day before the outbreak of a full-fledged war between Iran and the United States-Israel combine.

Gold and silver were already trending higher throughout late February due to rising regional friction. However, the military action over the weekend has fundamentally altered the technical landscape. Analysts suggest that the breach of key resistance levels in New York on Friday was merely a precursor to the volatility expected when domestic exchanges (MCX) and international spot markets resume full-scale trading.

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