MUMBAI: Gold and silver prices surged significantly on Monday, amid growing geopolitical tensions and the US dollar's steep fall.
MCX gold April futures gained 1.83 per cent to Rs 1, 59, 749 per 10 grams on an intra-day basis. Meanwhile, MCX silver March futures gained 5.10 per cent to Rs 2, 65, 836 per kg.
Earlier in the day, gold had jumped 2 per cent while silver soared 6 per cent. Analysts attributed the surge to geopolitical tensions as US President Donald Trump's 10-day deadline for a "meaningful deal” with Iran drew closer.
Iran has indicated it is prepared to make concessions on its nuclear programme in talks with the US in return for the lifting of sanctions and recognition of its right to enrich uranium, as it seeks to avert a US attack.