Gold and Silver Prices Plunge Amid Iran-US Tensions
Gold and silver prices fell on Monday at the Multi Commodity Exchange as investors weighed fresh tensions between Iran and the US, developments in the Middle East, and potential impacts on inflation and interest rates.
The MCX silver futures for September 2026 delivery declined by Rs 1,600 to Rs 2,39,008 per kg, while gold futures for October 2026 delivery fell by Rs 1,331 to Rs 1,52,171 per 10 grams. This decline snapped a two-day rally in the precious metals.
The Iran-US tensions and potential impact on oil prices weighed on investor sentiment. Oil prices moved lower as investors assessed a recovery in Saudi Arabian shipments despite continued attacks by Yemen's Houthis. Higher interest rates can also weigh on demand for gold, making interest-bearing investments more attractive.