Gold and Silver Prices Decline Amid US-Iran Conflict: Is It Time to Invest?
Gold, silver rates today: Precious metals remain volatile amid US-Iran war. Is it right time to buy?
Mint
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Gold and silver prices in India fell on Friday, reflecting global market trends amid ongoing tensions from the US-Iran conflict. Gold is priced at ₹1,51,735 per 10 grams, while silver is at ₹2,39,585 per kg. Analysts suggest that while short-term volatility may continue, long-term prospects for both metals remain supportive due to geopolitical uncertainties.
- 01Gold prices in India dropped to ₹1,51,735 per 10 grams, down over 2% for the week.
- 02Silver prices fell to ₹2,39,585 per kg, extending losses to more than 6% this week.
- 03The US-Iran conflict has led to a significant decline in gold (over 10%) and silver (around 18%) prices since its onset.
- 04Analysts suggest that prolonged high interest rates and geopolitical risks will influence future price movements.
- 05Support levels for gold are at ₹1,50,300–₹1,50,000, while silver's crucial support is at ₹2,40,000–₹2,38,000.
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On Friday, gold and silver prices in India decreased, with gold futures trading at ₹1,51,735 per 10 grams and silver at ₹2,39,585 per kg. This decline reflects a broader trend in global bullion markets, driven by escalating tensions from the US-Iran conflict. Gold has lost over 10% in value since the conflict began, while silver has seen a sharper decline of approximately 18%. The ongoing geopolitical situation, including the closure of the Strait of Hormuz, has created uncertainty in the market, leading to increased pressure on both metals. Analysts from Kotak Securities and Enrich Money suggest that while prices may remain volatile in the near term, there is potential for recovery as geopolitical risks evolve. Key support levels for gold are identified at ₹1,50,300 and ₹1,50,000, while silver's crucial support lies between ₹2,40,000 and ₹2,38,000. Investors are advised to consider these factors before making decisions.
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The decline in gold and silver prices could influence investment decisions among Indian consumers and investors, especially in the context of rising inflation and geopolitical uncertainty.
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