Gold and silver prices saw a mild decline on Tuesday, as global uncertainties and rising crude oil prices kept investors on edge. On the Multi Commodity Exchange (MCX), gold futures slipped to around ₹1,49,600 per 10 grams, while silver prices dropped more sharply, falling by over ₹1,500 to hover near ₹2.31 lakh per kilogram.
The dip in bullion prices comes at a time when geopolitical tensions in the Middle East are intensifying, particularly involving Iran. Concerns around potential disruptions in oil supply have pushed crude prices above $110 per barrel. This has raised fears of inflation, especially for countries like India that depend heavily on oil imports.
Even though gold is typically considered a safe-haven asset during uncertain times, its upward movement has been limited. One key reason is the current global interest rate environment. Higher interest rates tend to reduce the appeal of gold, as it does not offer any fixed returns compared to interest-bearing assets.
In the domestic market, gold prices remained close to the ₹1.50 lakh mark per 10 grams across major cities, while silver traded in a broad range near ₹2.31–₹2.34 lakh per kilogram. Prices showed slight variations depending on local demand and taxes.
In India, the Reserve Bank of India’s upcoming policy stance is expected to influence bullion demand and price direction.
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