Gold, Silver Prices Plummet Amid Middle East Tensions

Gold and silver prices took a hit on Friday due to escalating geopolitical tensions in the Middle East, coupled with a stronger US dollar.

The precious metals fell by up to nearly 1% with gold futures for August delivery opening at Rs 1,42,392 per 10 grams, down 0.30% from the previous close of Rs 1,42,821 per 10 grams on the Multi Commodity Exchange (MCX).

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.

COMEX gold was down 0.48% at $4,030 an ounce, while silver slipped 0.41% to $57.80 an ounce in the international market.