Gold and silver slide as yields rise amid Gulf tensions
Gold and silver prices slid on Monday, mostly because US bond yields went up and the US dollar got stronger.
Tensions in the Gulf, especially after drone attacks, added to worries about energy supplies and inflation.
Gold fell 1.18% to $4,508 per ounce, while silver dropped 2.7% to $75.455.
India MCX gold ₹1.58L silver ₹2.71L
Higher US 10-year Treasury yields (now at 4.58%) make gold less appealing since it doesn't pay interest, and a strong dollar means global investors look elsewhere.
In India, though, gold and silver prices are still high thanks to an import duty hike and restrictions on silver imports—MCX gold futures closed at ₹1.58 lakh per 10gm last week, with silver at ₹2.71 lakh per kilogram, showing how local policies can keep prices elevated even when global rates fall.