Precious Metals Preview: Gold and silver futures boosted by safe haven demand

Precious metals surged in early Asian on Monday, boosted on safe haven demand amid signs of rising tensions between the US and Iran. Meanwhile, US President Donald Trump announced a new framework following a Supreme Court verdict against his sweeping tariffs and imposed a new global levy of 15% ? the maximum allowed under the statute ? on items imported into America. Data released on Friday showed that the US Personal Consumption Expenditures (PCE) Price Index increased 2.9% over the 12 months through December. Furthermore, the core gauge, which excludes the volatile food and energy components, advanced 3.0% YoY, reaffirming bets that the US Federal Reserve (Fed) would not cut rates in March. Weakness in dollar overseas is also supporting the yellow metal which is currently quoting at $5188.70 an ounce, up 2.18% on the day. Silver futures are also up around 6%. India's Gold imports came in at Rs 109599 crore in value terms in January 2026, soaring around 372% compared to January 2025. Silver imports also spiked 139% on year to Rs 18194 crore in the month. Gold imports value in first ten-months of FY26 gained by 26% on year to Rs 543512 crore while Silver imports during the same period spiked 140% to Rs 86623 crore. Gold imports soared 194% on a monthly basis while Silver imports gained 166% on month.

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