Gold, Silver Seen Rebounding Amid Global Tensions

Gold and silver prices are expected to remain firm and may extend gains in the coming days, as investors respond to renewed geopolitical tensions and global trade uncertainty.

Market analysts say precious metals have regained attention after a series of global developments unsettled financial markets.

Trade Tensions Back in Focus

The US Supreme Court recently ruled against certain global tariffs imposed by President Donald Trump. Following the ruling, Trump announced a flat 15% tariff on trading partners, reviving concerns about global trade friction.

At the same time, uncertainty around US-Iran talks and increased military activity in the Middle East have added to safe-haven demand for bullion.

Brokerage firm Choice Broking said gold ended last week strongly, crossing $5,080 per ounce in overseas markets. The firm noted that geopolitical risks and renewed trade volatility helped support bullion prices.

Performance Last Week

In overseas trade, Comex silver futures rose sharply by more than 5% over the past week, settling above $82 per ounce. Gold gained nearly 1% during the same period.

In the domestic market, silver futures on the Multi Commodity Exchange (MCX) climbed by Rs 8,584, or 3.5%, over the week. Gold futures rose by Rs 981, marking an increase of nearly 1%.

Analysts said improved liquidity conditions after the Lunar New Year and steady industrial demand from sectors such as solar and aluminium also supported silver prices.

Domestic Outlook

According to Prathamesh Mallya, DVP – Research (Non-Agri Commodities and Currencies) at Angel One, gold prices moved within a narrow range of Rs 1.5 lakh to Rs 1.6 lakh per 10 grams last week.

He said weaker US economic data and expectations of possible interest rate cuts by the Federal Reserve supported bullion.

“Fresh geopolitical tensions and broader financial instability have encouraged investors to turn to gold as a hedge,” he said, adding that prices could move towards Rs 1.61 lakh per 10 grams in the near term.

Key Data to Watch

Traders are now focusing on upcoming macroeconomic indicators for further direction. These include:

• US Producer Price Index (PPI)

• Consumer confidence data

• Weekly jobless claims

• Regional Federal Reserve indicators

• The People’s Bank of China’s lending rate decision

Market participants say these data points will influence expectations on interest rates and currency movements, which in turn impact gold and silver prices.

Still Below Record Highs

Despite the recent recovery, both gold and silver remain below their record highs seen in late January 2026. Prices had corrected sharply after touching lifetime peaks.

Experts believe a strong rally back to those highs would likely require a major escalation in geopolitical tensions or further deterioration in global economic conditions.

For now, analysts expect a gradual recovery rather than a sharp spike.

What Investors Should Know

Financial advisors suggest that investors assess their risk appetite and investment horizon before making fresh allocations to precious metals.

Gold and silver mutual funds have delivered strong returns over the past year. Some experts also point to strategies such as tax-loss or tax-gain harvesting as the financial year draws to a close.

However, analysts caution that while precious metals can act as a hedge during uncertainty, they may not always outperform equity markets over longer time frames.

With global developments evolving rapidly, bullion markets are likely to remain sensitive to news on trade policies, interest rates and geopolitical risks in the weeks ahead.