Gold prices surged on Monday after the United States and Israel carried out major strikes on Iran, escalating geopolitical tensions and adding to global economic uncertainty. Spot gold rose 1% to $5,329.39 an ounce, while U.S. gold futures advanced 1.8% to $5,342.80 an ounce.
Gold has already hit multiple record highs this year amid persistent political and economic uncertainty, with a 64% surge in 2025 fuelled by strong central bank purchases and expectations that U.S. monetary policy may ease.
Analysts forecast gold could rise toward the $6,000 mark, with J.P. Morgan expecting prices to reach around $6,300 an ounce by the end of 2026.
In India, gold prices moved sharply higher, with 24-carat gold priced at ₹1,73,370 per 10 grams, up ₹4,380, while 22-carat gold stood at ₹1,58,940 per 10 grams, up ₹4,010.
Silver prices, on the other hand, edged slightly lower, with 10 grams priced at ₹3,119, down ₹1, and 1 kg at ₹3,11,900, down ₹100.
