New Delhi: Amid the US-Israel and Iran military conflict, Gold and Silver prices continue to fluctuate. Silver futures on the Multi Commodity Exchange (MCX) declined to Rs 259,279 per kilogram. It had settled with a downfall of Rs 8,683 in the last trading session. Gold rates also fell. On Multi Commodity Exchange (MCX), gold futures marginally slipped by 0.99%, falling by 1,565 to Rs 1,56,901 per 10 grams. Th eyellow metal had ended at Rs 1,58,466 per 10 grams.
Silver price today
Silver prices dropped to nearly $80 per ounce on Monday, extending losses for the fourth consecutive session as geopolitical tensions and monetary policy uncertainty pressured the market. Commenting on the Silver prices, Kedia Advisory stated that oil prices surged after the US attacked military targets near Iran’s key oil-export hub at Kharg Island and warned of further strikes if Tehran interferes with shipping through the Strait of Hormuz.
Markets are also assessing reports that the US may form a coalition to escort vessels through the critical waterway linking the Persian Gulf to global markets. Elevated energy costs and inflation concerns have reduced expectations for interest rate cuts, while the Federal Reserve is expected to keep rates unchanged this week, the financial advisory grpup said.
Gold price today
Gold prices hovered near $5,000 per ounce on Monday after declining for two consecutive weeks as markets remained cautious amid ongoing geopolitical tensions. Giving its report on gold today, Kedia Advisory said oil prices stayed volatile after US strikes on Iran’s main oil-export hub on Kharg Island, raising concerns about global energy supply. The conflict involving the US, Israel, and Iran has entered its third week, with Tehran launching retaliatory attacks on Israel and regional energy infrastructure.
Meanwhile, rising energy costs are fueling inflation concerns, reducing expectations for interest rate cuts. The Federal Reserve is widely expected to keep rates unchanged this week, alongside policy decisions from major central banks including those in the Eurozone, UK, Japan, and China, it added.
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