Last Updated on February 20, 2026 9:37 pm by BIZNAMA NEWS
Global precious metal markets witnessed a dramatic rally on Friday as escalating geopolitical tensions in the Middle East drove investors toward safe-haven assets. Comex gold futures surged by $71 per ounce, hitting a day’s high of $5,068, while silver prices gained a substantial $3.5 per ounce to reach $81.1.
The domestic market mirrored this global frenzy. On the MCX, April gold futures jumped by ₹2,136 per 10 grams, while silver contracts saw a massive spike of ₹10,674 per kilogram.
Geopolitical Flashpoint
The primary catalyst is the looming threat of conflict between the US and Iran. US President Donald Trump issued a stern 15-day deadline for Tehran to cooperate on its nuclear program, warning of “really bad things” otherwise. Reports of the largest US military buildup in the Middle East since 2003 have further rattled markets. In response, Iran has threatened retaliation against regional US bases, a move that has simultaneously sent crude oil prices soaring.
Market Sentiment
Despite a strengthening US Dollar Index, gold remains the preferred hedge against military and economic uncertainty. While US Federal Reserve minutes show policymakers divided over labor markets and inflation, the immediate threat of war has taken center stage, positioning gold for its third consecutive weekly gain.
