Analyst: Escalating Geopolitical Risk May Propel New York Silver to Reclaim $100

On March 1, Hareesh V, Commodity Research Head at Geojit Investments, noted that elevated geopolitical risks could spark a buying spree in precious metals—potentially pushing New York silver futures back above $100 per ounce. The analyst also added that while a global gold price surge to $6,000 can’t be ruled out in extreme scenarios, its path will hinge largely on how the conflict unfolds. In the short term, increased market volatility and risk-off sentiment are likely to sustain investor support for gold prices. Jigar Trivedi, Senior Research Analyst at IndusInd Securities, believes unprecedented strikes by the U.S. and Israel on Iran, escalating Middle East tensions, and concerns over potential disruptions to global energy supplies—backed by safe-haven buying—are set to drive New York gold futures to new upward momentum. Geopolitical tensions have underpinned prices since the start of the year; gold closed higher last Friday, and the precious metals market is likely to gap up again on Monday. (Source: FXStreet)