Analyst: Geopolitical risks intensifying may push New York silver futures back above $100.

Geojit Investments' Head of Commodity Research, Hareesh V, stated that heightened geopolitical risks could trigger a surge in demand for precious metals, potentially pushing New York silver futures back above $100 per ounce. Furthermore, the analyst also mentioned that although it cannot be ruled out in extreme circumstances, the global gold price reaching $6,000 is a possibility, with its trend largely dependent on how conflicts evolve. In the short term, increased market volatility and risk aversion sentiment are likely to continue to support gold prices. IndusInd Securities' Senior Research Analyst, Jigar Trivedi, believes that the unprecedented strikes by the United States and Israel against Iran have intensified tensions in the Middle East and sparked concerns about potential disruptions in global energy supply. With support from safe-haven buying, New York gold futures are expected to gain new upward momentum. Since the beginning of the year, ongoing geopolitical tensions have been supporting prices. Last Friday, gold closed higher, and the precious metals market may likely open higher again on Monday.