Bullion Prices Plummet Amid Elevated Yields and Geopolitical Tensions

Gold and silver futures declined on Tuesday as elevated US bond yields and uncertainty surrounding the US-Iran standoff weighed on precious metals. Silver saw a sharper fall, dropping more than 1 per cent at its intraday low.

The Multi Commodity Exchange (MCX) reported that December gold futures traded at ₹1,48,410 per 10 grams, down ₹487, or 0.33 per cent from the previous day's close.

Gold had earlier touched a low of ₹1,48,150 and a high of ₹1,49,034. December silver futures were trading at ₹2,25,338 per kg, lower by ₹2,104, or 0.93 per cent.

The decline in bullion prices can be attributed to higher US yields making non-yielding assets like gold and silver less attractive to some investors. Spot gold also traded lower after a 4 per cent fall in the previous session took it to a seven-week low.