On April 20, gold and silver prices experienced a significant drop of up to 2.5% following renewed tensions in the Middle East, particularly after attacks in the Strait of Hormuz. The COMEX gold rate fell 2% to $4,780 per ounce, while COMEX silver dropped 2.5% to $78.75 per ounce. Since the onset of the US-Iran conflict in late February, gold prices have decreased by approximately 9% and silver by 14%. In India, the 24 karat gold rate in Mumbai is ₹152,960 per 10 grams, while silver is priced at ₹253,060 per kilogram. Prices vary slightly in other cities, with Delhi rates at ₹152,700 for gold and ₹252,620 for silver. Retail buyers should note that jewellers often add making charges and taxes, which can increase the final purchase cost. The geopolitical situation continues to influence market dynamics, and further developments are anticipated.