Gold, silver surge as West Asia escalation rattle markets | Check city-wise rates

Gold and silver prices rallied sharply on Monday after coordinated strikes by the United States and Israel on Iran intensified tensions in West Asia, triggering a flight to safe-haven assets. With geopolitical uncertainty rising and risk appetite shrinking, investors pulled funds out of equities and volatile instruments, shifting toward bullion in both domestic and international markets.

On the Multi Commodity Exchange, gold rose 2.87 per cent in early trade, while silver gained 2.99 per cent. In the physical market, gold climbed to Rs 1,73,090 per 10 grams from Rs 1,62,490 in the previous session. Silver surged to Rs 2,94,900 per kilogram from Rs 2,82,140 on February 27, reflecting heightened geopolitical anxiety and strong defensive buying.

Gold Rates Across Cities (Per Gram):
City | 24K Gold | 22K Gold | 18K Gold
Chennai | Rs 17,210 | Rs 15,776 | Rs 13,501
Mumbai | Rs 17,309 | Rs 15,866 | Rs 12,982
Delhi | Rs 17,324 | Rs 15,881 | Rs 12,997
Kolkata | Rs 17,309 | Rs 15,866 | Rs 12,982
Bangalore | Rs 17,309 | Rs 15,866 | Rs 12,982
Hyderabad | Rs 17,309 | Rs 15,866 | Rs 12,982
Kerala | Rs 17,309 | Rs 15,866 | Rs 12,982
Pune | Rs 17,309 | Rs 15,866 | Rs 12,982
Vadodara | Rs 17,314 | Rs 15,871 | Rs 12,987
Ahmedabad | Rs 17,314 | Rs 15,871 | Rs 12,987

Silver Rates (Per kg):
Mumbai: Rs 2,81,630
Delhi: Rs 2,81,140
Bengaluru: Rs 2,81,850
Chennai: Rs 2,82,450
Hyderabad: Rs 2,82,080
Kolkata: Rs 2,81,260

International markets mirrored the domestic surge, with spot gold rising up to 2 per cent to $5,368.09 an ounce, its highest level in over four weeks. US gold futures advanced 2.58 per cent to $5,382.60 per ounce, while spot silver climbed 1.68 per cent to $95.35 an ounce.

Supply-side concerns are also adding pressure. Physical gold shipments from Dubai, a key trading hub supplying India, may face disruptions due to flight cancellations linked to the regional tensions. As imports typically move by air because of security and insurance constraints, any prolonged disruption could tighten domestic supplies further, keeping prices volatile in the near term.