Gold prices fall to Rs 1.43 lakh/10 grams, silver dips Rs 15,000 in 4 days as Iran war raises inflation worries. Time to exit?

Gold and silver prices opened lower on the MCX on Thursday, extending losses for the fourth straight session as fresh geopolitical tensions following U.S. President Donald Trump's declaration that the interim agreement to end the war with Iran was "over" revived concerns over inflation and the outlook for interest rates.

In the domestic market, MCX silver futures for September 2026 delivery were down Rs 2,000 (1%) to Rs 2,21,502 per kg. Gold futures for August 2026 delivery fell by Rs 610 to Rs 1,43,101 per 10 grams.

The U.S. military said on Wednesday it had launched fresh strikes on Iran to keep the strategically important Strait of Hormuz open to shipping, just hours after Trump said the memorandum of understanding signed to end the conflict was "over".


The renewed escalation pushed oil prices higher after they had settled nearly 5% higher on Wednesday, while the U.S. dollar and equity markets weakened in response to the latest developments in the U.S.-Iran conflict.

Market participants said the renewed hostilities in the Middle East highlighted how quickly concerns over inflation and market volatility can return through higher oil prices.

Inflation worries were also evident during the U.S. Federal Reserve's meeting last month, where officials followed Federal Reserve Chairman Kevin Warsh's lead in adopting a more streamlined policy statement despite concerns that price pressures were broadening and could eventually require interest rate hikes.

Also read: Bought gold and silver at the top? Here's what experts suggest after prices plunged up to 50% from January

Gold and silver international prices

Spot gold slipped 0.3% to $4,066.24 an ounce by 0105 GMT, after falling to its lowest level since July 1 on Wednesday. U.S. gold futures for August delivery were down 0.1% at $4,077 an ounce. Among other precious metals, spot silver declined 0.3% to $58.13 per ounce. Platinum gained 0.4% to $1,585.11, while palladium also rose 0.4% to $1,218 per ounce.

How should you trade gold?

According to Manoj Kumar Jain of Prithvi Finmart, gold and silver prices are expected to remain volatile this week due to fluctuations in crude oil prices, movements in the dollar index and ongoing geopolitical tensions.

He said gold has support at $4,055-4,010 per troy ounce and resistance at $4,122-4,150, while silver has support at $57.00-55.50 per troy ounce and resistance at $60.00-61.40 in Thursday's session.

On the MCX, Jain said gold has support at Rs 1,43,100-1,42,200 and resistance at Rs 1,44,400-1,45,150. Silver, meanwhile, has support at Rs 2,20,000-2,16,600 and resistance at Rs 2,26,600-2,30,000.

He advised traders to avoid taking fresh buying positions in gold and silver at current levels. However, he said long-term investors could consider buying and accumulating the precious metals in a staggered manner during the ongoing market correction.

Read more:Gold sitting idle at home? Here's how it could earn you an income and what to watch out for

Gold rates in physical markets

Gold Price today in Delhi
Standard gold (22 carat) prices in Delhi stand at Rs 1,05,072/8 grams while pure gold (24 carat) prices stand at Rs 1,14,616/8 grams.

Gold Price today in Mumbai
Standard gold (22 carat) prices in Mumbai stand at Rs 1,04,952/8 grams while pure gold (24 carat) prices stand at Rs 1,14,496/8 grams.

Gold Price today in Chennai
Standard gold (22 carat) prices in Chennai stand at Rs 1,05,992/8 grams while pure gold (24 carat) prices stand at Rs 1,15,632/8 grams.

Gold Price today in Hyderabad
Standard gold (22 carat) prices in Hyderabad stand at Rs 1,04,952/8 grams while pure gold (24 carat) prices stand at Rs 1,14,496/8 grams.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)