Gold, silver surge on safe-haven demand amid West Asia tensions

Gold, silver surge on safe-haven demand amid West Asia tensions Gold and silver prices surged on Friday, driven by safe-haven demand amid persistent uncertainty and fading hopes of de-escalation in the West Asia conflict.

Gold futures for April 2 delivery jumped as much as 2.27 per cent, or Rs 3,167, to hit an intraday high of Rs 1,42,660 per 10 grams on the Multi Commodity



Exchange (MCX) around 11.20 AM.

The yellow metal was later trading at Rs 1,42,500, up Rs 3,007 or 2 per cent.

During the session, gold touched an intraday low of Rs 1,40,287, still reflecting gains of 0.56 per cent or Rs 794. Silver futures (May 5) also rallied sharply, rising up to 3.65 per cent to touch an intraday high of Rs 2,27,901 per kg on the MCX.