Analysts: Increased geopolitical risks could push New York silver futures back above $100.

PANews reported on March 1st that, according to Jinshi, Hareesh V, head of commodities research at Geojit Investments, stated that escalating geopolitical risks could trigger a buying frenzy in precious metals, potentially pushing New York silver futures back above $100 per ounce. Furthermore, the analyst noted that while the possibility of global gold prices reaching $6,000 in extreme circumstances cannot be ruled out, its trajectory will largely depend on how the conflict evolves. In the short term, increased market volatility and risk aversion are likely to continue supporting gold prices. Jigar Trivedi, senior research analyst at IndusInd Securities, believes that the unprecedented strikes by the US and Israel against Iran have exacerbated tensions in the Middle East and raised concerns about potential disruptions to global energy supplies, potentially driving new upward momentum in New York gold futures. Since the beginning of the year, ongoing geopolitical tensions have supported prices. Gold closed higher last Friday, and the precious metals market is likely to gap up again on Monday.