US-Iran Tensions Weigh on Gold and Silver Prices

New Delhi - Tensions between the US and Iran weighed on sentiment in the precious metals market, causing gold and silver prices to decline. On Friday, August 14, 2026, gold futures (October) on the Multi Commodity Exchange (MCX) dropped as much as 0.8% or Rs 1,233 to Rs 1,52,233, hitting an intraday low by 10:22 am.

The yellow metal was trading at 1,52,415, down Rs 1,051 or 0.68%, but it touched an intraday high of Rs 1,53,200 so far in the session, a decrease of 0.17% or Rs 266 from the previous close.

Silver futures (September) recorded an intraday low of Rs 2,32,454, decreasing 1.27% or Rs 2,993. The white metal was trading at Rs 2,32,880, down Rs 2,567 or about 1%, and it touched an intraday high of Rs 2,33,982, down 0.62% or Rs 1,465.

The selling pressure in precious metals came after reports that US Treasury Secretary Scott Bessent warned of never-before-seen economic measures against Iran. Market experts noted that MCX Gold extends downside momentum, trading near Rs 152,500 after facing rejection from highs near Rs 155,500.