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Silver, gold set for further gains next week on global trade strains, Middle East tensions: AnalystsSilver and gold are set to rise as investors flock to safe-haven assets amid US tariff hikes, Middle East tensions, and geopolitical risks. Experts expect bullion prices to climb further next week.By PTI February 22, 2026, 9:53:11 PM IST (Published)3 Min ReadSilver and gold are expected to extend their gains next week as investors seek safety in safe-haven assets amid renewed trade tensions following US President Donald Trump's decision to raise global tariffs and rising geopolitical strains in the Middle East, analysts said.

Market participants will closely watch key economic indicators, including the US Producer Price Index (PPI), consumer confidence data, weekly initial jobless claims and the People's Bank of China's lending rate decision, for cues on the direction of precious metals, they added.

"Markets are awaiting the US producer price index (PPI), housing data, consumer confidence, regional Fed indicators, and the People's Bank of China's prime rate decision," Choice Broking said.

The brokerage firm said escalating geopolitical risks and Trump's move to raise global tariffs after the US Supreme Court's ruling have revived trade uncertainties and strengthened safe-haven demand for bullion.

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On the Multi Commodity Exchange, silver futures climbed ₹8,584, or 3.5%, while gold advanced ₹981, or nearly 1%, over the past week.

"Gold prices traded in a narrow range during the week ended February 20, as MCX gold fluctuated between ₹1.5-1.6 lakh per 10 grams. Softer US data and rising geopolitical risks pushed prices higher, with investors priced in the possibility of rate cuts by the Federal Reserve," Prathamesh Mallya, DVP - Research, Non-Agri Commodities and Currencies, Angel One, said.

Mallya said renewed tensions in the Middle East, the Russia-Ukraine conflict, and broader market volatility have driven some investors towards gold as a hedge against uncertainty.

"Overall, the risk-off sentiment remained in precious metals this week. We expect gold prices might move higher towards ₹1.61 lakh per 10 grams," he added.

Choice Broking noted that increased post-Lunar New Year liquidity and firm industrial demand from solar and aluminium segments have also lent strength to silver's performance.

In the international markets, Comex silver futures increased $4.38, or 5.62%, to finish at $82.34 per ounce, while gold gained $34.6, or nearly 1%, to close at $5,080.9, during the past week.

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"Gold ended the week on a strong note, breaking above $5,080 per ounce after a landmark Supreme Court of the United States ruling against global tariffs reignited volatility and safe-haven demand. The ruling, combined with mounting US-Iran tensions, has reintroduced a geopolitical risk premium that spurred silver's rebound," Choice Broking said.

It added that while the dollar initially weakened to 97.8, it rebounded after President Trump announced a 10% global tariff through executive order and thereafter announced to increase the tariffs to 15%, keeping investors wary and bullion supported.

"Additional support came from heightened tensions in the Middle East, including a significant US military deployment near Iran, which further lifted bullion's appeal," the brokerage added.Continue Reading(Edited by : Priyanka Deshpande)TagsGlobal Stock Marketgoldsilver