Gold, Silver Prices Fall Amid Elevated US Yields, Iran-US Tensions

Gold and silver prices fell on Tuesday due to elevated US yields and ongoing tensions between the US and Iran over the Strait of Hormuz. On the Multi Commodity Exchange (MCX), gold futures for December were trading at Rs 1,48,410 per 10 grams, down Rs 487 or 0.33 percent from Monday's close.

Spot gold also fell to a seven-week low after dropping 4 percent in the previous session. Iranian officials have expressed pessimism about reaching an agreement with Washington to end hostilities before the US midterm elections in November, according to reports.

The uncertainty surrounding the Iran-US standoff has kept energy prices elevated, adding pressure on non-yielding assets like gold and silver.