US-Iran Tensions Send Gold and Silver Prices Plummeting
Gold and silver prices fell on Monday, September 21, due to escalating US-Iran tensions. According to Comex data, gold declined by 0.53% to around $4,401.30 per ounce, while silver dropped by 0.48% to around $66.825 per ounce.
Despite the decline, experts predict that gold could cross $10,000 per ounce in the coming months. This would translate into a significantly higher price in the Indian market. Ajay Kedia, Managing Director of Kedia Advisory, believes that gold remains supported by central-bank accumulation and potential rupee depreciation.
Kedia also forecasts that gold could test Rs 1,80,000 per 10 grams by Diwali or year-end 2026, implying a nearly 18% upside from the reference price. Silver offers stronger potential but is expected to be more volatile, with prices potentially testing approximately Rs 3,00,000 per kilogram by Diwali or year-end.