Overview
- International spot gold traded around $5,300–$5,400 per ounce after a jump of roughly 2%–4%, with silver and other precious metals higher as well.
- Indian markets reflected the move, with MCX gold futures up about 3% near ₹1.67 lakh per 10g and domestic gold ETFs gaining roughly 4%–5% while silver ETFs rose about 6%–7%.
- Equities fell as risk-off sentiment took hold, with early declines in the Sensex and Nifty contrasting with broad gains in precious‑metal funds.
- Regional physical markets tightened, including Pakistan where Sarafa association data showed per‑tola gold up ₹13,300 to ₹563,862 alongside a slide in local stocks.
- Analysts highlighted energy and inflation risks if the conflict persists, with some projecting gold could approach $6,000–$6,300 by late 2026, while cautioning that outsized ETF spike claims vary by source.