Spot gold was up 1.26% at $5,738 per ounce, while spot silver advanced 1.92% to $90.56 per ounce during Asian trading hours, recovering from a steep 6% decline on Monday. The surge in bullion prices comes as crude oil remains elevated following the joint Israeli and US strikes on Iran on February 28 and Tehran’s subsequent retaliation, heightening concerns for oil-import-dependent economies such as India.