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Gold and silver prices rose sharply on the Multi Commodity Exchange of India (MCX) on Monday after America and Israel launched major attacks on Iran and the death of its Supreme Leader Ali Khamenei. This increase increased safe-haven demand for precious metals amid rising geopolitical tensions and increasing global economic uncertainty. The special thing is that in the futures market of the country, there has been an increase of 3.5 percent in the prices of both. Experts believe that the tension in the Middle East is not going to end soon. Due to which further increase in the prices of gold and silver may be seen. If experts are to be believed, soon the price of gold may reach the level of Rs 2 lakh. Let us also tell you at what level the prices of gold and silver are trading in the futures market of the country.

Rise in gold and silver prices

On MCX, gold futures for April 2026 rose by Rs 5,811, or 3.5 per cent, to Rs 1,67,915 per 10 grams. Meanwhile, silver futures for delivery on March 5, 2026 rose by Rs 9,492, or 3.5%, to Rs 2,84,490 per kg. Independent analyst Ross Norman said in a Reuters report that gold is perhaps the best barometer of global uncertainty and, in other words, the mercury is rising. We should expect that as we enter a new era of geopolitical uncertainty, gold prices will rise to new records. In the international market, spot gold rose 1 percent to $ 5,329.39 an ounce, which is a four-week peak. At the start of the session, bullion was up as much as 2 per cent before paring some gains. In contrast, spot silver rose more than 2 percent to $95 an ounce, compared to a month-to-month gain in February.

How should you trade gold?

Manoj Kumar Jain of Prithvi Finmart said in the media report that a lot of fluctuations are being seen in precious metals. However, silver may maintain its main support at $ 84 per troy ounce, while gold may remain above $ 5,122 per troy ounce on closing basis this week. He said traders should expect continued volatility in gold and silver due to fluctuations in the dollar index, ongoing US-Iran tensions and ahead of the US jobs data release. Gold has support in the range of $ 5,220-5,164 and resistance at $ 5,340-5,420 per troy ounce. In today's session, silver has support at $ 90.00-86.80 and resistance at $ 98.00-102.00 per troy ounce.

On MCX, gold has support at Rs 1,60,600-1,58,800 and resistance at Rs 1,64,400-1,67,000, while silver has support at Rs 2,78,000-2,71,000 and resistance at Rs 2,92,000-3,04,000. He said that for a target of Rs 1,65,000-1,67,000, he recommends buying gold above Rs 1,63,300 with a stop loss below Rs 1,60,600. Similarly, silver can be bought above Rs 2,85,500 with a stop loss below Rs 2,78,000 for a target of Rs 2,89,800-2,96,000.

Will gold prices reach Rs 2 lakh?

According to experts, increasing geopolitical risk can lead to a sharp rise in precious metals. Regarding the outlook for gold prices, Harish V, Head of Commodity Research at Geojit Investments, said in a Livemint report that gold prices reaching $6,000 or Rs 2,00,000 in the country cannot be ruled out. However, the real path forward will largely depend on how the conflict escalates. According to experts, due to this tension, silver prices are expected to go above the level of $100.

Gold has gained more than 20 percent so far this year, and after a sharp decline from a record high in late January, it has again stabilized above $5,000 an ounce. The precious metal rose for the seventh consecutive month, which is the longest increase since 1973. Persistent geopolitical and trade tensions, as well as concerns about the so-called dollar debasement trade and the independence of the Federal Reserve, have contributed to the multi-year rally, Bloomberg said.