Gold and silver prices declined on MCX on March 30, with gold futures falling 0.41% as the US-Iran conflict entered its fifth week. Despite ongoing geopolitical tensions, investors booked profits, weighing on bullion prices.
Gold Drops Over 0.4% as Global Markets React to Prolonged War
New Delhi: Gold and silver prices fell on Monday amid international tensions and turbulence in global markets. The bullion market remained weak despite the ongoing conflict between the US and Iran entering its fifth week. Investor caution and profit-booking continued to weigh on prices.
At 9 a.m. on Monday, April gold futures on the Multi Commodity Exchange (MCX) fell by 0.41%, or ₹597, to ₹1,43,742 per 10 grams. Silver May futures also fell by 0.27%, or ₹611, to ₹2,27,343 per kilogram.
Is Gold’s bull run over? Will prices fall below Rs 1 lakh? Historic trends hint at drop
Gold and silver prices also fell slightly on Friday. Gold prices on MCX fell 0.04% to close at ₹1,44,401 per 10 grams in April. Silver prices fell 0.09% to close at ₹2,27,750 per kilogram in May.
Gold prices have also fallen in international markets. Gold fell by about 1.7% in early trade. This decline comes at a time when the war in West Asia continues and the US has increased its military presence in the region. Despite this, investors have shown less interest in gold as a safe-haven investment.
Experts believe that investors are currently adopting a cautious stance. Some investors are booking profits, leading to a decline in prices. Furthermore, the strengthening of the dollar and interest rate signals are also influencing gold prices.
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In the coming days, gold and silver prices will depend on global developments, the war situation, and economic indicators. If tensions escalate further, demand for gold as a safe-haven asset may increase again. Market volatility is expected to continue, so investors are advised to proceed cautiously.
