Gold and Silver Prices Rise Amid Tensions and Trade Uncertainty
On February 23, 2026, gold and silver prices moved upward on the Multi Commodity Exchange (MCX) in India. Gold hit Rs 1.60 lakh per 10 grams while silver rose near 6% to Rs 2.67 lakh per kilogram. The move draws attention to precious metals during times of high world tensions and trade doubts.
Drivers Behind the Precious Metals Rise
Market experts mention several forces that push up gold and silver prices. Geopolitical risks between the United States and Iran add strain. This strain makes investors quickly turn to metals that they trust when things feel unsafe.
US tariff rules add more doubt. The Supreme Court handed a 6–3 decision on old tariffs under former President Trump. New global taxes stir talk in markets. Markets worry as tariff shifts put stress on sectors like manufacturing, shipping, logistics, retail, and pharmaceuticals. These shifts can shrink profit margins.
Rajeev Sharan, head at Criteria, Model Development & Research at Brickwork Ratings, said, "Gold’s rise after the correction shows that traders now build a premium for risk. With trade and global risks high, gold returns to being a strong guard against extreme shifts. Banks that work in stressed sectors might see mild issues with asset quality if this gap stays wide."
Global and Local Market Trends
On the local front, gold futures on MCX rose 1.74% at Rs 1,59,550 per 10 grams by mid-afternoon. Silver futures climbed 4.64% to Rs 2,64,676 per kilogram. In global markets, Comex gold increased 1.70% to $5,167.30 per ounce and Comex silver sped up by 5.01% to $86.46 per ounce.
Hareesh V, head of Commodity Research at Geojit Investments Limited, said that even if the US court removes tariffs, trade stress and a weak US dollar may keep prices high. Expectations of lower US interest rates, purchases by central banks, and a slow world growth rate add weight to the metals’ long view.
A recent Augmont – Gold for All report from February 23 pointed to soft US economic data as a spark for the rise. With US GDP growth near 1.4% for the fourth quarter, a fall is seen. The report explains that the Federal Reserve’s focus on data, ongoing inflation, and a weak US dollar amid trade doubts help non-interest assets like gold and silver to do well.
Implications for Investors and Markets
The strong pull for gold and silver shows market care when global and trade risks grow. Investors turn to these metals when they need a safe base because gold and silver have long held real value.
While sectors linked to trade may face changes soon, the strength of gold-backed products will depend on steady asset backing. Banks and investors will watch how price moves shed light on broader market moods and risk views.
