On Monday, gold and silver prices opened lower on the Multi Commodity Exchange of India, driven by a stronger U.S. dollar and renewed inflation concerns linked to geopolitical tensions in the Strait of Hormuz. Silver futures for May 2026 delivery decreased by ₹3,945 (1.5%) to ₹2,53,198 per kg, while gold futures for June 2026 delivery fell ₹1,590 (1%) to ₹1,53,018 per 10 grams. Internationally, spot gold dropped 0.4% to $4,809.71 per ounce, marking its lowest level since April 13. Analysts suggest that despite the volatility, key support levels for gold are expected to hold, with immediate support seen between ₹1,53,350 and ₹1,52,000. Manoj Kumar Jain of Prithvi Finmart recommends a buy-on-dips strategy for both metals, advising traders to maintain positions as long as prices stay above critical support levels. In major Indian cities, gold prices for standard (22 carat) gold are reported at around ₹1,14,352 in Delhi and ₹1,14,232 in Mumbai.