Gold and Silver Price: Due to the latest situation in the Middle East and other reasons, the price of gold and silver continues to fluctuate. On Tuesday, silver prices fell by Rs 2,000 to Rs 2.40 lakh per kg in Delhi’s bullion market, while gold fell by Rs 600 to Rs 1.53 lakh per 10 grams. Investors have become cautious ahead of the deadline given by US President Donald Trump to Iran in which he demanded the reopening of the Strait of Hormuz.
fall in silver prices
According to All India Bullion Association, silver prices fell by Rs 2,000 (about 1 per cent) to Rs 2,40,000 per kg on Tuesday. On Monday, the price of silver had closed at Rs 2,42,000 per kg. Apart from this, gold of 99.9 percent purity also fell by Rs 600 (0.4 percent) to Rs 1,53,200 per 10 grams. In the last trading session, it had closed at Rs 1,53,800 per 10 grams.
Trump warned Iran
Saumil Gandhi of HDFC Securities said that pressure on gold prices increased when Trump gave a new warning to Iran. He warned that if the Strait of Hormuz was not reopened, there would be renewed military attacks on power plants and other civilian infrastructure. For this he had set a deadline of Tuesday. Iran rejected this warning and continued its attacks on energy assets throughout the Middle East.
Investors became cautious after Trump’s announcement
Globally, spot gold prices rose marginally to $4,659.16 an ounce, while silver lost nearly 1 per cent to $72.14 an ounce. This reflects the caution of investors in foreign markets. Meanwhile, geopolitical tensions have increased further. President Trump has warned in a post on ‘Truth Social’ that if Iran does not make a deal, “an entire civilization will end tonight.” This warning has raised fears of increasing military confrontation.
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