New Delhi: Gold and silver prices fell sharply on Monday as markets reacted to escalating tensions in the Middle East, with both metals trading in the red on the Multi Commodity Exchange of India (MCX).
Gold prices dropped by more than Rs 1,400 during early trading. The price of 10 grams of gold stood at Rs 1,46,558, down Rs 697. During the session, gold touched a low of Rs 1,44,212 and a high of Rs 1,49,250 per 10 grams, reflecting significant volatility.
Silver also saw a sharp decline in the morning session, though it recovered later. By 10:40am, the price of 1kg of silver was Rs 2,28,149, up Rs 195 from earlier levels. The metal recorded a low of Rs 2,25,763 and a high of Rs 2,28,786 per kg during the day’s trade.
Analysts attribute the fluctuations to global uncertainty triggered by the ongoing conflict in the Middle East, which has unsettled financial markets and commodity trading.
Across major Indian cities, prices showed slight variations. In Patna, gold was priced at Rs 1,46,950 and silver at Rs 2,28,910. Jaipur recorded gold at Rs 1,47,010 and silver at Rs 2,29,000, while Kanpur and Lucknow saw the highest gold prices at Rs 1,47,070 and silver at Rs 2,29,090 per kg.
Among the cities listed, Raipur recorded the lowest prices for both metals, with gold at Rs 1,46,860 per 10 grams and silver at Rs 2,28,580 per kg.
Market participants are expected to closely monitor geopolitical developments, as further escalation could continue to influence commodity prices in the coming days.
