Gold prices remained above the $5,200 mark while silver hovered close to $89 an ounce during Asian trading on March 11, reflecting continued safe-haven demand amid geopolitical tensions in West Asia. However, both metals slipped marginally in early trading as investors reacted to fresh statements from US officials about the ongoing conflict in the region.
Spot gold was trading about 0.34 percent lower at around $5,224 an ounce, while spot silver slipped 0.32 percent to about $89.35 an ounce.
The conflict in West Asia has entered its 12th day and continues to disrupt crude production and refining operations across parts of the Middle East. The uncertainty surrounding energy supplies and global trade routes has kept volatility high in commodity markets.
Oil prices recovered after falling sharply earlier, following reports that the White House denied escorting an oil tanker through the Strait of Hormuz. The clarification came after a social media post suggesting such an escort was later deleted.
At the same time, the US and Israel have intensified military operations against Iran. According to statements from US defence officials, the latest round of attacks has been among the most intense since the conflict began.
Despite this escalation, comments from former US president Donald Trump suggesting that the conflict could end soon had briefly eased market concerns earlier in the week. However, he also warned that the US would sharply escalate strikes if Iran attempted to block the Strait of Hormuz — a key route for global oil shipments.
These conflicting signals have kept investors cautious, supporting demand for safe-haven assets such as gold and silver.
Analysts believe the current geopolitical and economic uncertainties are likely to keep precious metals well supported in the near to medium term.
According to Tata Mutual Fund’s Gold and Silver Outlook for March 2026, investors should consider maintaining exposure to both metals given the supportive macroeconomic environment.
The report noted that geopolitical risks, along with structural and cyclical factors, could continue to underpin prices of gold and silver. It advised investors to use price corrections as opportunities to accumulate.
The fund house said gold remains an attractive long-term portfolio allocation as the broader market environment remains favourable for the metal.
While gold is typically viewed as a safe-haven asset, silver’s prospects are also linked to industrial demand. Analysts say silver could benefit from a recovery in manufacturing activity and technological applications.
Given the commodity’s higher volatility, experts recommend a staggered investment strategy for silver over the medium to long term.
Market experts say gold remains in a broader bullish trend despite the recent correction from record highs.
According to Ponmudi R, chief executive officer of Enrich Money, strong buying interest is visible in the $5,000–$5,100 support zone. If prices fall below this band, gold could slide towards $4,900.
However, as long as the metal holds above the $5,000 level, the overall bullish trend remains intact. A sustained move above the $5,400–$5,600 range could push gold towards fresh record highs.
Silver’s longer-term outlook also remains constructive, analysts say. Prices have recovered above key moving averages, indicating the possibility of renewed upward momentum.
Strong support is seen in the $76–$80 range. If prices move decisively above the $90–$95 band, silver could regain momentum and potentially head towards the $100–$110 range.
Analysts say the outlook for both metals remains positive as investors continue to seek safe-haven assets amid geopolitical tensions and volatile global markets.