Gold and silver dip on MCX amid U.S.-Iran tensions
Business
Gold and silver prices dropped on Monday, thanks to rising inflation fears sparked by the U.S.-Iran conflict and climbing crude oil costs.
On MCX, gold slipped from ₹154,177 to ₹153,596 per 10gm soon after trading started.
Silver followed suit, falling from ₹251,001 to ₹241,990 per kg.
COMEX metals fall as analysts warn
This dip wasn't just local: global markets saw similar declines.
COMEX gold fell 0.5% to $4,342 an ounce; silver dropped 1.6% to $68 an ounce.
Analysts say inflation could push the US Fed toward a rate hike soon.
They're also watching key support levels for silver ($64 on COMEX and ₹243,000 to ₹240,000 on MCX), warning that breaking these could mean even bigger price drops ahead.