Gold, silver prices tumble amid Iran-US uncertainty, investors rely on global cues

Both Gold and Silver saw a sharp decline in the prices in the international market, following signs of easing tensions between the US and Iran.

The price of gold, which had reached a level of $4635 per ounce in the international market, has now fallen to $4609 per ounce. Similarly, the price of silver has also fallen from $92 per ounce to $88.9 per ounce.

The main reason behind this decline is the reduced possibility of war between the US and Iran. The ongoing protests in Iran and threats of military action by US President Donald Trump have created a panic among investors.

Due to this fear, they were withdrawing money from volatile investments like the stock market and investing in safe assets like gold and silver, due to which prices were continuously rising.

Now, following reports that Iran has stopped its crackdown on protesters and signs of easing tensions between the two countries, investors' fears have eased. As a result, they have started profitable selling in gold and silver, due to which prices are seeing a big decline.

Gold and silver prices in India soared to unprecedented levels, propelled by intensifying geopolitical uncertainties and looming threats of trade tariffs. Gold notched a year-to-date gain of 5.16%, while silver outpaced it with a robust 15.02% rise. 

In India, 24-carat gold trades at approximately ₹1,43,180 per 10 grams (₹14,318 per gram), with slight regional variations like ₹1,05,000-₹1,06,600 per 10 grams for 22-carat in select cities. 

Silver rates hover around ₹3,00,656 per kg (₹300.66 per gram) nationally, reaching up to ₹3,10,000 per kg (₹310 per gram).

According to market experts, unless there is any major political instability at the global level, there may be pressure on gold and silver prices. However, investors are advised to keep a close eye on the global situation before taking any decision.