New Delhi, Feb. 28 -- Gold and silver prices on the Multi Commodity Exchange of India (MCX) surged sharply on Friday, supported by heightened safe-haven demand amid escalating geopolitical tensions in the Middle East. Following fresh Israeli attacks on Iran and the US military involvement, bullion markets are expected to remain sensitive to further developments when trading resumes next week.

Israel said that it had launched a pre-emptive strike against Iran on Saturday, diminishing prospects for a diplomatic resolution to Tehran's long-standing nuclear dispute with Western nations.

Regional tensions intensified further after explosions were reported in Abu Dhabi and Dubai in the United Arab Emirates (UAE), as well as in Doha and Riyadh...