Gold, Silver Prices Decline as Renewed Inflation Concerns and US-Iran Tensions Weigh on Market

Gold and Silver Prices Under Pressure Amid US-Iran War Escalation and Soaring Crude Oil Prices

The gold and silver prices in India came under pressure on Monday, following the escalation in the US-Iran war and soaring crude oil prices. The MCX gold rate today opened lower at ₹1,54,177 per 10 gm and touched an intraday low of ₹1,53,596 per 10 gm within a few minutes of the opening bell. The MCX silver rate today opened upside at ₹2,51,001 per kg, but soon came under pressure and touched an intraday low of ₹2,41,990 per kg within a few minutes of the early morning deals.

Similarly, gold and silver prices are under pressure in the international market. The COMEX gold rate is down by nearly 0.50% at per oz, while the COMEX silver rate is also down by nearly 1.60% at per ounce.