US-Iran war: In a recent development on Saturday, protests escalated across Iran, as anti-government slogans echoed through the streets of the capital, Tehran, despite an internet blackout and a harsh crackdown by the government led by Ayatollah Ali Khamenei.
Iran has warned the United States against any military involvement in support of protests that have erupted across the country, even as President Donald Trump stated that Washington was “ready to help.”
Meanwhile, reports on Sunday suggested that the US was preparing contingency plans for possible military action following President Donald Trump’s warnings of intervention. A former US Army colonel and military analyst said there were indications of a significant military buildup in the Middle East.
How US-Iran war will impact Indian stock market, gold and silver prices?
According to Avinash Gorakshkar, a SEBI- registered fundamental analyst, the rapid military build-up around the Iran borders will have a sentimental impact on various assets.
Goraskshkar believes that this escalation in US-Iran conflict may have a negative impact on the global markets including Indian stock market. However, gold and silver may witness an upside momentum.
“ This will fuel uncertainty and hence demand for gold and silver as safe-haven assets will spike. So, I am expecting flat to negative opening for the Indian stock market, whereas gold and silver rates may open with an upside momentum,” he said.
Meanwhile, Anuj Gupta, a SEBI- registered Commodity expert, said that the US-Iran latest news regarding military deployment around the Iran borders is expect to speed up rally in gold and silver prices.
Gupta added that Gold prices may have a gap-up opening in the internation and domestic market, whereas, Silver may open upside.
“ The yellow metal may open upside and touch $4550 per ounce, whereas the MCX gold rates may touch ₹1,42,000 per 10 gm due to the escalation in the US-Iran conflict. Likewise, silver rates may open upside and touch $82 and $85 per ounce, while in the MCX, it may hit ₹2,56,000 and ₹2,60,000 per kg,” said Gupta.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
