Gold Holds Steady Near $5200 as Silver Surges on Geopolitical and Trade Uncertainty
Published: February 27, 2026
Precious metals markets presented a mixed but largely positive picture on Friday, with gold prices holding steady near record highs while silver experienced a significant rally in both local and international markets. The movements come amid persistent geopolitical tensions and fresh uncertainty surrounding U.S. trade policy .
Gold remained resilient, trading flat to modestly higher globally. In the international spot market, gold was stable near the $5,180–$5,194 per ounce range, holding onto gains that have put the metal on track for a seventh consecutive monthly increase—a rise of over 6% in February alone . In the Indian domestic market, this translated to steady prices at approximately ₹1.58 lakh per 10 grams on the MCX, reflecting the global trend .
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Analysts attribute gold’s strength to sustained safe-haven demand. Uncertainty following recent talks between the U.S. and Iran, which concluded without a breakthrough, continues to underpin prices. Additionally, ongoing disruptions related to U.S. tariff policies have kept investors biased toward the safety of bullion .
Silver outperformed its yellow counterpart, posting sharp gains. On the Multi Commodity Exchange (MCX), silver futures for March delivery jumped over 3%, surging more than ₹8,300 to trade near ₹2.68 lakh per kg . This rally was mirrored internationally, with spot silver climbing nearly 2% to approach $90 per ounce, while COMEX futures saw similar gains .
“The rally in silver is being driven by its dual role as both a safe-haven asset and an industrial metal,” market observers noted, adding that uncertainty over global growth and trade has fueled fresh positions . The industrial demand outlook, particularly for green technologies, continues to provide structural support for silver prices .
Traders are now focused on upcoming U.S. economic data for further clues on the Federal Reserve’s interest rate path, which remains a key factor influencing non-yielding asset prices .
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