By Admin 
Gold-Silver Prices: War has broken out between Iran and Israel. America and Israel have together attacked Iran. Iran also retaliated by targeting American military bases in the Middle East. In this atmosphere of tension, there has been turmoil in the financial markets of the world.
Investors are once again going into safe-haven mode in the global market. That means, in this environment of uncertainty, people are betting on gold and silver as a safe investment. In such a situation, the fear of price rise has increased.
What are the experts saying?
Experts believe that amidst global uncertainty and geopolitical tension, investors can turn to gold and silver as safe investments. Due to this, prices are expected to increase by 10-15 percent. Since the deepening of the conflict between America and Iran may create a situation of panic in the financial market. At such times, people consider gold and silver as safe investments.
Experts are saying that gap-up opening can be seen in precious metals. COMEX Gold is currently facing resistance at the level of Rs 5300 per ounce. If this level breaks, then gold prices in India may increase by about Rs 1,68,000 to Rs 1,70,000 per 10 grams.
Why is gold and silver safe haven?
Israel’s attack in Tehran on Saturday shocked the world. During this time, people in Tehran reported hearing a loud explosion. When war or political tension increases instability, investors choose gold and silver instead of the stock market or currency as these are considered safe-haven. This is because in an environment of war, there is a fear of currency weakening, the stock market may go down due to the impact on the profits of companies, but the real price of gold is never zero. Gold has been considered a currency in times of crisis for thousands of years. In such a time of uncertainty, people withdraw money from the stock market and invest it in gold and silver.
Gold and silver trend on MCX
From a technical point of view, MCX Gold is firmly above the level of 1,60,000 and has gone out of its previous range. Prices are currently stable around Rs 1,62,000. Analysts believe that if gold remains above 1,60,000, it may soon move towards 1,63,500 to 1,65,000.
MCX Silver has also gained momentum and is moving towards the range of Rs 2,80,000–2,85,000. If this trend continues and prices remain above the required support level, then silver may rise further to reach around Rs 2,90,000–2,95,000.
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