Gold Falls ₹1,921, Silver Drops ₹5,387 Amid Fresh US-Iran Tensions
Summarized by AI; it may make mistakes. Check important info
Summarized by AI; it may make mistakes. Check important info
Precious metal prices witnessed a sharp decline in India on Monday, with gold falling by over ₹1,921 per 10 grams and silver dropping more than ₹5,387 per kilogram, as global market volatility and geopolitical tensions weighed on investor sentiment.
Gold and silver prices declined sharply in India on Monday, tracking weakness in global bullion markets amid heightened geopolitical tensions and shifting investor sentiment.
Gold prices (MCX)
Bullion | Previous price | Current price | Change |
Gold futures | ₹1,43,478 | ₹1,42,100 | -₹1,378 |
Intraday low | ₹1,43,478 | ₹1,41,557 | -₹1,921 |
Silver prices (MCX)
Bullion | Previous price | Current price | Change |
Silver futures | ₹2,22,664 | ₹2,18,665 | -₹3,999 |
Intraday low | ₹2,22,664 | ₹2,17,277 | -₹5,387 |
Why Are Gold and Silver Prices Falling?
Market experts attributed the decline to a combination of global factors, including renewed geopolitical tensions involving the United States and Iran, volatility in international commodity markets, and changing investor sentiment.
Analysts said uncertainty surrounding the evolving US-Iran situation has increased volatility across global financial markets, prompting investors to rebalance their portfolios.
Apart from geopolitical concerns, the strengthening of the US dollar, fluctuations in global equity markets and profit-booking by institutional investors have also contributed to the sharp correction in precious metal prices.
