Gold And Silver Prices Fall By Up To 1 Per Cent, Elevated US Yields And Geopolitical Tensions Weigh On Trade

Mumbai: Gold and silver futures declined on Tuesday as elevated US bond yields and uncertainty surrounding the US-Iran standoff weighed on precious metals. Silver saw the sharper fall, dropping more than 1 per cent at its intraday low.

On the Multi Commodity Exchange (MCX), December gold futures traded at ₹1,48,410 per 10 grams, down ₹487, or 0.33 per cent. Gold had earlier touched a low of ₹1,48,150 and a high of ₹1,49,034.

December silver futures were trading at ₹2,25,338 per kg, lower by ₹2,104, or 0.93 per cent. The metal fell as much as 1.29 per cent to ₹2,24,500 during the session.

The quoted prices reflect morning trade and may change through the day.

Why Is Bullion Under Pressure?

Higher US yields have made non-yielding assets such as gold and silver less attractive to some investors. Spot gold also traded lower after a 4 per cent fall in the previous session took it to a seven-week low.

Meanwhile, tensions over the Strait of Hormuz have kept energy prices elevated. Reports of little progress towards a US-Iran agreement added to uncertainty after US President Donald Trump rejected Iran’s latest proposal to reopen the waterway within seven days.

Key Levels to Watch

Commodity experts placed immediate resistance for gold at ₹1,50,000–₹1,50,700, followed by ₹1,52,000–₹1,52,600. Support lies at ₹1,48,000–₹1,47,300.

They said a sustained rise above ₹1,50,000 would be needed to signal a recovery. A firm break below ₹1,48,000 could bring further selling pressure.

For silver, resistance stands at ₹2,27,000–₹2,28,000, with support at ₹2,24,000–₹2,23,000. A move above ₹2,28,000 could steady prices, while a break below ₹2,24,000 may put the ₹2,20,000 region in focus.

Traders will continue to track US yields, developments involving Iran and oil prices for the next direction in bullion.