Gold Prices Plummet Amid Escalating US-Iran Tensions
The price of gold in India fell by nearly 0.5% in the domestic futures market on September 21, as uncertainty over the US-Iran war continued to drive safe-haven demand.
MCX Gold 5 October futures were trading at ₹153,870 per 10 grams, while MCX Silver 4 December contracts dropped by 0.39% at ₹240,663 per kg.
The decline in gold prices comes as the market opened after a two-day weekend break.
Recent developments have fueled tensions between the US and Iran, with an United Nations fact-finding mission stating that it has reasonable grounds to believe the United States was behind military strikes on a school and sports facility in Iran in February, which constituted war crimes.
The mission also found that Iranian authorities committed crimes against humanity during their crackdown on anti-government protests.