Mumbai: Gold and silver prices surged sharply on Monday as global tensions and a weaker US dollar pushed investors towards safe-haven assets. On the Multi Commodity Exchange (MCX), gold April futures rose 1.83 percent to Rs 1,59,749 per 10 grams during intraday trade. Silver March futures jumped 5.10 percent to Rs 2,65,836 per kg. Earlier in the session, gold had gained nearly 2 percent, while silver climbed around 6 percent.Analysts said rising geopolitical tensions are a major reason behind the rally. US President Donald Trump has set a 10-day deadline for a “meaningful deal” with Iran. Reports suggest Iran is ready to make some concessions on its nuclear programme in exchange for lifting sanctions and recognition of its uranium enrichment rights.Investors fear that failure in talks could lead to further tensions, which increases demand for safe assets like gold.The US dollar also fell after the US Supreme Court struck down a large portion of President Trump’s tariffs. According to market experts, this decision has reduced uncertainty around sudden tariff announcements but has not completely removed trade concerns.Silver is witnessing heavy withdrawals from warehouses, especially from Comex. Analysts say this indicates tight supply and strong demand. China’s market shutdown has also added to supply pressure, boosting prices further.