Silver rate today: White metal jumps ₹8,600 on MCX on escalating US-Iran war, weak dollar Silver prices rose on Friday, March 6, as investors remained cautious about the potential economic impact of the escalating conflict in the Middle East. A decline in the US dollar also contributed to the upward movement in precious metals, making dollar-denominated bullion more affordable for buyers using other currencies. On the MCX exchange, silver prices surged by 2.6%, or ₹8,600, to ₹2,68,991 per kilogram, while gold prices increased by 1%, or ₹1,577, to ₹1,61,250 per 10 gram. In international markets, spot silver rose 0.1% to $82.26 per ounce, while spot gold remained largely unchanged at $5,076.09 per ounce. US gold futures for April delivery also climbed 0.1% to $5,084.50. Other precious metals also saw gains, with platinum rising 0.1% to $2,124.05 per ounce and palladium advancing 1.1% to $1,639.78 per ounce. The rising tensions in the Middle East continued to escalate, with Iran reportedly launching multiple attacks against Israel, the United Arab Emirates, and Qatar. The intensifying conflict has raised concerns about broader economic and energy market disruptions. US Defense Secretary Pete Hegseth and Admiral Brad Cooper, who oversees US forces in the region, stated that the United States has enough munitions to sustain its military campaign for an extended period. The US-Israeli offensive against Iran, which began on Saturday, has reportedly targeted multiple locations across the country, prompting retaliatory actions from Iran. The conflict has also disrupted global energy markets, leading to a surge in oil and energy prices. The war has disrupted supply routes and shipping activity, while several major Middle Eastern producers have reportedly reduced production due to the uncertainty.#us #iran #middle_east #pete_hegseth #brad_cooper
