On Monday, gold and silver prices in India saw significant declines, mirroring trends in global bullion markets. The MCX gold rate for June delivery decreased by ₹1,115, or 0.74%, settling at ₹1,50,237 per 10 grams. Similarly, MCX silver futures for July delivery fell by ₹3,998, or 1.59%, to ₹2,46,939 per kg. These declines are primarily driven by persistent inflation concerns and expectations of higher interest rates, which diminish the attractiveness of non-yielding assets like gold and silver. In the global market, spot gold prices dropped 0.5% to $4,588.71 per ounce, while US gold futures for June delivery fell 0.9% to $4,600.60. Investor sentiment remains cautious due to uncertainties surrounding US monetary policy and geopolitical tensions, particularly regarding the Strait of Hormuz and US–Iran relations. Analysts predict that gold prices will remain range-bound, with expectations of trading between $4,500 and $4,700 on COMEX, while MCX gold is anticipated to fluctuate between ₹1,47,000 and ₹1,53,000. Silver is expected to be more volatile, with key support at ₹2,30,000 and resistance at ₹2,67,200. Overall, while geopolitical tensions may support safe-haven demand, higher interest rates could limit price gains.