Gold and Silver Prices Fluctuate Amid US-Iran Tensions
On September 24, gold and silver prices in India fluctuated due to ongoing tensions between the US and Iran. According to the MCX Gold 5 October futures, the price of gold fell by nearly 0.12% at ₹151,071 per 10 grams.
In contrast, the MCX Silver 4 December contracts decreased by 0.53% at ₹234,650 per kg. The US and Iran held their first indirect talks since a ceasefire collapsed in July, with officials communicating through mediators.
Retailing gold prices varied across major Indian cities. In Mumbai, 24-karat gold was priced at ₹151,380/10 gm, while 22-karat gold was priced at ₹138,765/10 gm. Silver 999 Fine rate in Mumbai stood at ₹234,340/1 kg.
The growth in prices of these precious metals can be attributed to ongoing tensions between the US and Iran. Gold prices have risen by over 75% since last year, while silver rates rose from roughly ₹78,600 per kg in 2023-2024 to over ₹240,000 per kg in September 2026.