Silver crashes ₹13,600, gold falls ₹2,500 amid global tensions and Trump’s Iran remarks

Silver and gold prices witnessed a sharp decline in the Indian commodities market on Thursday, reflecting volatility in global markets amid rising geopolitical tensions and aggressive statements by Donald Trump regarding the ongoing conflict with Iran.

On the Multi Commodity Exchange (MCX), silver saw a steep fall, creating a near lower circuit situation and triggering panic among traders.

Silver prices dropped by as much as ₹13,613 during the day. The metal, which had previously closed at ₹2,43,501, slipped to a low of ₹2,29,888. It was last trading at ₹2,33,229, marking an approximate decline of 4.22%. At one point, silver prices even dipped below the ₹2.30 lakh mark, intensifying concerns in the market.

Gold prices also registered a significant drop, leading to heavy losses for investors. The yellow metal fell by around ₹2,547. From a previous close of ₹1,53,708, gold touched a low of ₹1,51,161 and was trading at ₹1,51,600, down about 1.37%.

Market analysts attribute the sharp fall to multiple factors. Escalating tensions in the Middle East and a stronger US dollar have increased pressure on precious metals. Additionally, profit booking at higher levels led to a wave of selling across the market.

Uncertainty over global economic policies has also weighed on sentiment, limiting upside in bullion prices.

Further, Trump’s remarks suggesting a prolonged conflict with Iran, along with threats of intensified military action, have added to global instability, contributing to the sharp correction in gold and silver prices.