New Delhi, March 2 -- Gold and silver rates today rose nearly 2.5% on Monday, March 2, amid escalating tensions in the Middle East, unsettled financial markets, prompting investors to seek to rush to safe-haven assets.

Spot gold rate today climbed to $5,400 per ounce during the intraday session. Meanwhile, spot silver prices also surged nearly 2%, touching an intraday high of $96.93 per ounce, during the Asian trading hours on Monday.

Tensions escalated over the weekend after the United States and Israel carried out strikes on Iran, prompting Tehran to retaliate with multiple waves of missile attacks across several nations. Iran's supreme leader, Ali Khamenei, was reportedly killed on the opening day of the offensive.

Tehran's retaliat...