Conflict between Iran and Israel: Expect a gap-up opening in gold and silver. Here’s how to trade precious metals on Mondays

Gold and silver traders can expect some fireworks on Monday after Israel launched a pre-emptive strike on Iran on Saturday with the help of the United States, plunging the Middle East into a new bout of military confrontation.The strike is expected to further dim hopes for a diplomatic solution to Tehran’s long-running nuclear dispute with the West. The apparent attack took place near the offices of Iranian Supreme Leader Ayatollah Ali Khamenei.

Domestic gold and silver prices fell in lackluster trading on Friday. While April gold futures settled at Rs 1,61,971 on the MCX in the previous session and fell by Rs 133 or 0.08%, May silver futures closed at Rs 2,81,990 and fell by Rs 654 or 0.23%.The situation was very different on the COMEX, where yellow metal prices closed up 2% at $5,296.40 per ounce, up from $102.20 in one day. Silver prices rose nearly 8% or $6.83 per ounce to settle at $93.82, registering a sharper rally.

Commodity and currency expert Anuj Gupta expects an opening for gold and silver on Monday when trading resumes. Both precious metals look positive due to escalating geopolitical tensions in Iran, he said, adding that demand for safe havens is expected to rise.

“Gold could challenge the $5,300 to $5,350 level, while silver could rise between $95 and $98,” he opined.

Gupta said MCX gold futures rose 8.32% or Rs 12,451 per 10 gram in February, while year-to-date gains extended to Rs 26,700 or 20%. As for silver contracts on the MCX, prices have fallen by almost 3% or Rs 9,300 in February, although the white metal has seen a rise of Rs 46,900 or 20% in 2026, he added.

Gold and Silver Trading Strategy: What to Do on Monday?

Gupta advises traders to grab this opportunity as he suggests a buy for both gold and silver.

— Buy MCX gold at Rs 1,60,000-1,61,000 with a stop loss of Rs 1,58,000 and a target of Rs 1,65,000.

— Buy MCX silver at Rs 2,78,000/2,80,000 with a stop loss of Rs 2,73,000 and a target of Rs 2,90,000.

(Disclaimer: The recommendations, suggestions, views and opinions expressed by the experts are their own. These do not represent the views of The Economic Times.)