Gold and Silver Prices Decline Amid U.S.-Iran Peace Talks Anticipation
Silver slips Rs 2,300, Gold at Rs 1.53 lakh as investors await U.S.-Iran peace talks this weekend; key levels to watch
The Economic TimesImage: The Economic Times
Gold and silver prices opened lower on the Multi Commodity Exchange of India, with silver dropping ₹2,335 to ₹2,50,210 per kg and gold remaining flat at ₹1,53,785 per 10 grams. Investors are closely monitoring potential U.S.-Iran peace talks that could influence market conditions.
- 01Silver futures fell by ₹2,335 to ₹2,50,210 per kg.
- 02Gold futures remained stable at ₹1,53,785 per 10 grams.
- 03Global gold prices dropped to $4,807.91 per ounce.
- 04Analysts expect volatility in precious metals due to fluctuating dollar and oil prices.
- 05Support and resistance levels for gold and silver have been identified.
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On Tuesday, gold and silver prices on the Multi Commodity Exchange of India experienced a slight decline, with silver futures for May 2026 delivery decreasing by ₹2,335 to ₹2,50,210 per kg. Gold futures for June 2026 delivery remained stable at ₹1,53,785 per 10 grams. The decline is attributed to a stronger dollar and investor caution ahead of potential peace talks between the U.S. and Iran, which could impact market dynamics. Globally, spot gold prices fell 0.2% to $4,807.91 per ounce, marking a continuation of losses from the previous day. Analysts, including Manoj Kumar Jain of Prithvi Finmart, anticipate ongoing volatility in both metals, influenced by fluctuations in the dollar index and crude oil prices. Key support levels for gold are identified between $4,788–$4,740 per troy ounce, and for silver, between $78.40–$76.60. Jain recommends a buy-on-dips strategy for both metals, suggesting gold buyers remain active as long as prices hold above ₹1,48,000.
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The fluctuations in gold and silver prices could affect consumers looking to purchase jewelry or invest in precious metals. A decline in prices may present buying opportunities for investors.
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