Commodities
Gold and Silver Prices Decline Amid US-Iran Tensions and Elevated Yields
Gold and silver prices declined on Tuesday due to elevated US yields and uncertainty over the US-Iran standoff. The selling pressure in precious metals kept energy prices higher, with gold futures trading at Rs 1,48,410 per 10 grams, down Rs 487 or 0.33 per cent. Silver futures fell as much as 1.29 per cent or Rs 2,942 to hit an intraday low of Rs 2,24,500 per kg.
The uncertainty over the US-Iran standoff kept energy prices elevated, while higher US yields added pressure on non-yielding assets such as gold and silver. The developments came after US President Donald Trump rejected Iran's latest proposal to reopen the critical waterway within seven days.