Gold, Silver Prices Decline Amid Elevated US Yields and Geopolitical Tensions

Gold and silver prices declined on Tuesday due to elevated US yields and geopolitical tensions. The MCX gold futures (December) were trading at Rs 1,48,410 per 10 grams, down Rs 487 or 0.33 per cent. Silver futures (December) 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 higher, adding pressure on non-yielding assets such as gold and silver. Spot gold was also trading lower after falling 4 per cent in the previous session to a seven-week low.