• Gold’s surge beyond $5,600 (₹1,80,000) and silver’s breakout above ₹4,00,000/kg reflect a deepening macro and geopolitical risk premium rather than short-term speculation.
  • Rising geopolitical tensions added to market anxiety after U.S. President Donald Trump urged Iran to return to negotiations on its nuclear programme, warning that any future U.S. military action would be far more severe. Iran responded sharply, threatening retaliation against the U.S., Israel, and their allies. This exchange has heightened fears of a broader regional escalation in the Middle East, reinforcing risk-off sentiment across global markets and strengthening safe-haven demand for assets such as gold and silver.
  • While the Fed held rates steady, its acknowledgement of elevated inflation and an uncertain outlook continue to cap real yields, supporting precious metals. Gold is increasingly viewed not just as a crisis hedge, but as a neutral, reliable store of value across macro regimes
  • Additional support came from strong central-bank buying, sustained ETF inflows, and diversification-driven allocations, including plans by crypto major Tether to invest in physical gold by 10-15%.

Technical Triggers   

  • Gold: Sustaining above $5600 (₹1,87,000) opens the door to $5800–6000 (₹1,87,000–1,95,000). Strong support at $5200–20 (₹1,60,000); a break could trigger profit-booking toward $5000–$4750.
  • Silver: A decisive move above $118 (₹4,05,000) targets $125–130 (₹4,30,000–4,50,000). Key support lies at $110 (₹3,75,000), below which prices may retrace to $103–98.

Dr.Renisha Chainani, Head- Research, Augmont