As global economic risks grow and politics harden, gold and silver gain safe appeal. On February 23, 2026, India’s MCX and New York’s COMEX both show strong rises. Macro forces and political moves support these trends.
Gold and Silver on the Rise amid Trade and Geopolitical Tensions
In India, MCX gold jumps near ₹1.60 lakh per 10 grams. The day starts at ₹1,58,458 and moves to a high of ₹1,60,600 soon after opening. Silver moves in step. MCX silver stays around ₹2,65,000 per kilogram and clicks to a high of ₹2,68,875 that day. Global markets mirror this view. COMEX gold climbs past $5,190 per ounce with a gain near 2%. COMEX silver jumps over 6% to reach a high of $87.75 per ounce.
This climb stems from shifts in US trade policy. A recent decision by the US Supreme Court on tariffs and an order by a former US leader set a 15% tariff on all trade partners. These moves shake global trade plans. Investors see risk and switch from regular assets to metals, which many have held as safe picks during rough times.
Political strife in the Middle East, with tension between the US and Iran, adds to market worry. Diplomatic talks have stopped, and each side blames the other. The long-held conflict spurs investors to look at bullion for calm.
Market Analysts Weigh in on Price Outlooks
Experts see a path higher for these metals. Sugandha Sachdeva, founder of SS WealthStreet, points to support from trade shifts, political risk prices, and macro forces for gold and silver. Anuj Gupta, a SEBI-registered market analyst, notes that silver has passed the $85 per ounce line and stays in a $70 to $88 range. Gold nears a key mark at $5,200 per ounce. A strong push above this point may take gold to $5,500 per ounce. A global broker, UBS, has projected gold near $6,200 per ounce by the end of this year. This view backs gold’s long-held role as a safe asset in testing times.
Macroeconomic Data and Its Impact on Precious Metals
Price moves tie to mixed signals from the US economy. In January, the PCE index, which tracks inflation, rises 2.9% year-on-year. This rate tops forecasts and shows that price rises still matter. In the last quarter of 2025, US GDP slows to 1.4% from a predicted 3%. With a slowing economy and sticky inflation, there is a chance that the US central bank will cut rates. Lower rates help non-yielding assets such as gold and silver hold their appeal.
Key Price Levels and Trading Perspectives
On MCX, silver finds support between ₹2,25,000 and ₹2,35,000 per kilogram. Past swing lows back this range and some see it as a base. Traders plan to buy if prices drop to these marks. They hope prices will later reach between ₹3,00,000 and ₹3,25,000 per kilogram if the base holds firm. A break below support may push prices lower. On COMEX, silver finds similar backing in the $70 to $75 per ounce zone. If prices keep up above the $92 to $96 range, they may head to between $100 and $105 per ounce. Supply limits and industrial need support silver over time, even if prices swing.
Investing in the Market as Risks Persist
Trade rules, political fights, and economic stats all shape the field for gold and silver. Investors now watch US trade steps, upcoming US-Iran talks, and hints from the US central bank on rates. These factors guide bullion demand and price moves. Traditional metals hold worth in a world that shifts every day. Gold and silver continue as safe pools for investment when risks mount.
For live updates and expert insights, follow market dashboards to track how these precious metals perform amid global shifts in 2026.
