Gold and silver prices have surged significantly following US and Israeli military strikes on Iran, with both precious metals reaching new highs amid broad risk-off sentiment across global markets. MCX gold crossed the ₹1,60,000 structural pivot and is now trading around ₹1,62,000, with analysts eyeing the next resistance band at ₹1,63,500–₹1,65,000. Silver has also rallied in tandem, reaching ₹2,94,276 per kg, as traders rushed to safe-haven assets. The escalation has sent crude oil surging nearly 9% in early Asian trade, highlighting the broad-based flight to safety.
Internationally, COMEX gold rose 2.47% to $5,377.30 per ounce, while COMEX silver jumped 1.32% to $94.52 per ounce. According to The Hindu BusinessLine, both precious metals are expected to open with a gap-up in the next session. Gold jewellery stocks such as Titan and Kalyan Jewellers face a negative outlook, as higher gold prices typically dampen consumer demand. In Hyderabad, 24 karat gold is priced at ₹17,084 per gram, 22 karat at ₹15,660 per gram, and 18 karat at ₹13,400 per gram.
Jateen Trivedi, VP Research Analyst at LKP Securities, expects both precious metals to open with a gap-up in the next session. The precious metals market is experiencing significant volatility amid geopolitical tensions, with gold prices surging over ₹6,000 per 10 grams and silver jumping ₹9,500 per kg following the US and Israel's strikes on Iran. Independent analyst Ross Norman stated that "Gold is perhaps the finest barometer of global uncertainty and, to mix metaphors, the mercury is rising. We should expect gold to be repriced higher to fresh records as we enter a whole new era of geopolitical uncertainty."
Chennai-based foreign exchange services provider Prithvi Exchange has announced the launch of its Forex on WhatsApp service. According to reports from The Hindu BusinessLine, customers can now use WhatsApp conversations for multiple forex services including foreign currency purchase, forex cards, student forex solutions, and international money transfers. The launch represents the company's strategy to blend its offline presence with modern digital engagement.
Pavan Kavad, Managing Director of Prithvi Exchange, emphasized the need for modern forex services in his statement to The Hindu BusinessLine. As reported, Kavad stated that "Forex today needs to be as fast and intuitive as the way people communicate. By introducing forex booking through WhatsApp, we are simplifying access to foreign exchange services while ensuring transparency, compliance, and personalised support." The initiative aims to make forex services more accessible and user-friendly for customers.
