Silver Hits Record ₹1.09 Lakh/Kg on MCX as Israel-Iran Conflict Spurs Safe-Haven Rush

Silver futures surge 2.5% amid geopolitical tensions; gold prices also climb as investors shift away from risk assets

June 18, 2025 – Silver futures on the Multi Commodity Exchange (MCX) hit an all-time high of ₹1,09,250 per kilogram on Tuesday, June 17, 2025, marking a sharp 2.5% intraday gain. The surge came amid mounting investor anxiety over the escalating Israel-Iran conflict, which entered its fifth day and intensified demand for safe-haven assets.

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The July 2025 silver futures contract saw a rise of ₹2,686 per kilogram from its previous close of ₹1,06,564, setting a new record in India’s commodity market. As of 4:56 PM IST, silver was trading 2.23% higher at ₹1,08,945/kg on MCX.

The ongoing conflict has created global market uncertainty, leading investors to pull out from equities and risk-heavy asset classes, redirecting funds into traditionally safer options like silver, gold, and government bonds.

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Gold Also Gains Amid Global Uncertainty

Alongside silver, gold prices also edged higher. On MCX, gold futures for June 2025 gained 0.47%, or ₹472, to hit an intraday high of ₹99,650 per 10 grams, up from Monday’s close of ₹99,178.

Globally, gold prices rose 0.3% on the U.S.-based Comex exchange, driven by geopolitical fear and a weaker risk appetite. Bloomberg reported that the global gold rally was fueled by investors bracing for potential escalation in West Asia and waiting on the U.S. Federal Reserve’s policy announcement.

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Dollar Strengthens Slightly

According to Bloomberg data, the U.S. Dollar Index also rose marginally by 0.07%, reaching 98.066 as of 7:32 AM EDT. A stronger dollar typically caps further gains in precious metals, but current geopolitical risks have overridden typical resistance patterns.

With the Israel-Iran conflict and the U.S. Fed’s policy outlook dominating global market sentiment, commodities like silver and gold are likely to remain in focus for investors seeking shelter from volatility.

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