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Gold, Silver Slip Nearly 1% Amid Geopolitical Tensions and Strong Dollar

Gold and silver prices slipped nearly 1% in early trade on Friday on the Multi Commodity Exchange. The decline was driven by a stronger US dollar, rising bond yields, and uncertainty over Middle East geopolitical tensions. Crude oil moving above $100 per barrel also raised inflation concerns, adding pressure on precious metals. International markets mirrored the trend, with COMEX gold and silver falling nearly 1%.

Key Points: Gold Silver Prices Dip 1% on Geopolitical Tensions

  • Gold futures down 0.66% to Rs 1,50,750 intraday
  • Silver futures fall 0.95% to Rs 2,39,200
  • COMEX gold and silver slip nearly 1%
  • Strong dollar, bond yields, Middle East tensions weigh
  • Brent crude above $100/barrel raises inflation fears
2 min read

Gold and silver prices slip nearly 1 pc amid geopolitical tensions

Gold and silver prices fell nearly 1% in early trade on MCX, pressured by a stronger US dollar, rising bond yields, and Middle East tensions.

"Gold and silver prices are under pressure due to a stronger US dollar, rising bond yields, and uncertainty over geopolitical tensions in the Middle East. - Commodity Analysts"

Mumbai, April 24

Gold and silver prices started the session on a weaker note on Friday, with both precious metals declining by nearly 1 per cent in early trade on the Multi Commodity Exchange.

Gold futures for June 5 opened 0.39 per cent or Rs 594 lower at Rs 1,51,167 per 10 grams compared to the previous close of Rs 1,51,761.

Later, the yellow metal touched an intra-day low of Rs 1,50,750, down 0.66 per cent or Rs 1,011. At the last count, it was trading at Rs 1,51,449, a decrease of Rs 312 or 0.21 per cent. During the session so far, gold has touched an intra-day high of Rs 1,51,457.

On the other hand, silver futures for May 5 declined as much as 0.95 per cent or Rs 2,313 to Rs 2,39,200, an intraday low. The white metal was trading at Rs 2,41,345, down Rs 168 or 0.07 per cent. It recorded an intraday high of Rs 2,41,382, down 0.05 per cent or Rs 131.

In the international market, precious metals also witnessed selling pressure. COMEX gold was down nearly 1 per cent at $4,684 per ounce, while COMEX silver also slipped around 1 per cent to $74.81 per ounce.

According to commodity analysts, gold and silver prices are under pressure due to a stronger US dollar, rising bond yields, and uncertainty over geopolitical tensions in the Middle East.

They further said that crude oil moving back above $100 per barrel has raised inflation concerns, adding to pressure on precious metals.

Moreover, Brent crude was trading at more than $100 per barrel or 2 per cent higher.

Equity benchmarks Sensex and Nifty also traded up to 1 per cent lower in early trade on Friday.

- IANS

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Reader Comments

R
Rajesh Q
Typical pattern: bad news pushes up dollar, that hits gold. But with crude above $100, inflation will eat everything. Better to hold physical gold than worry about daily swings. My father always said, "Gold is the only real security."
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Arjun K
A 1% dip is not much of a "slip", honestly. And with tensions in Middle East, this could reverse anytime. I'd say buy the dip if you have cash. Silver below 2.4 lakh is a good entry for long term. 📉
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Sarah B
This is why I prefer ETFs over physical. At least you can exit fast if you need cash. But yeah, the macro picture is clear: dollar up, gold down. Not a panic moment.
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Vijay M
These market analysts always say "due to geopolitical tensions" but the truth is, the US Fed and dollar control everything. Gold is just a pawn in their game. Indian investors should focus on sovereign gold bonds instead.
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Nikhil C
When crude hits $100, everything becomes expensive—including gold eventually. This dip is a minor correction. Silver is the real gem here, it's used in solar panels and electronics. Long term, I'm bullish on silver. 🌟
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Shreya B

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