New Delhi, Mar 2 (.) Gold prices rose more than 1pc on Monday after the United States (US) and Israel launched major strikes on Iran, escalating geopolitical tensions in West Asia and deepening global economic uncertainty.
Spot gold was up 1.35 pc at USD 5,348.49 per ounce as of 2316 GMT, while US gold futures climbed 2.2 percent to USD 5,362.30 per ounce. The rally underscores investor flight to safety amid rising geopolitical risks.
Bullion, traditionally viewed as a safe-haven asset during times of crisis, has already scaled successive record highs this year.
The latest spike builds on an extraordinary 64 per cent surge in 2025, supported by aggressive central bank purchases, strong inflows into gold-backed exchange-traded funds (ETFs), and growing expectations of monetary policy easing in the United States.
Market participants said the intensification of the West Asia conflict has added a fresh layer of uncertainty to global markets, prompting risk-off sentiment across equities.
Indian markets mirrored the global unease. Nearly 67 per cent of stocks in the Nifty 500 index were trading below their respective 200-day moving average (200-DMA) on Monday. In absolute terms, 333 stocks out of the 500-stock universe slipped below this crucial technical threshold.
The 200-DMA is widely regarded as a key indicator of long-term trend direction. Stocks trading above the 200-DMA are generally considered to have a bullish bias, while those below it signal potential weakness or bearish undertones.
Despite the broad-based weakness, analysts noted that the sharp correction in many counters could present selective buying opportunities for long-term investors. However, they cautioned that patience will be critical, as heightened volatility and geopolitical developments may continue to influence market direction in the near term.
. VK MI .