Gold, Silver Prices Plummet Amid Middle East Tensions

Gold and silver prices declined on Friday as escalating geopolitical tensions in the Middle East weighed heavily on investor sentiment.

The strengthening US dollar index also contributed to the weakness in precious metals, with COMEX gold down 0.48% at $4,030 an ounce and silver slipping 0.41% to $57.80 an ounce.

In India, gold futures for August delivery on the Multi Commodity Exchange (MCX) opened at Rs 1,42,392 per 10 grams, down 0.30% from the previous close of Rs 1,42,821 per 10 grams.

Silver futures for September delivery also opened lower at Rs 2,18,280 per kg, down Rs 1,095 or 0.49% from the previous close of Rs 2,19,375 per kg.