21 April,2026 01:17 PM IST | Mumbai | IANS
Market volatility drags gold, silver and oil prices lower. Representational Image
Gold and silver prices declined on Tuesday, reflecting ongoing uncertainty in global markets. On the Multi Commodity Exchange (MCX), gold contracts for June 5 fell by 0.34 per cent, or Rs 528, to trade at Rs 1,53,415. Around 11:55 am, gold was priced at Rs 1,53,585 per 10 grams, down Rs 358 or 0.23 per cent, after touching an intra-day high of Rs 1,53,992.
Silver also followed a similar trend. Futures contracts for May 5 dropped by about 0.92 per cent, or Rs 2,335, to Rs 2,50,210. The metal had earlier reached an intra-day high of Rs 2,51,743 and was later trading at Rs 2,50,903 per kg, down Rs 1,642 or 0.65 per cent.
The weakness in domestic prices was in line with global trends. In international markets, gold fell by 0.43 per cent to USD 4,807 per ounce, while silver declined more sharply by 1.44 per cent to USD 78.885 per ounce.
Market experts pointed to geopolitical uncertainty as a key reason behind the dip. Tensions surrounding a possible US-Iran ceasefire and upcoming macroeconomic events have created a cautious environment for investors. One analyst noted that "uncertainty around whether fresh peace talks will happen before the ceasefire expires has kept markets on edge." Conflicting signals from both sides have added to volatility.
While US President Donald Trump confirmed that a delegation led by Vice President JD Vance would travel to Pakistan for negotiations, Iranian officials suggested that talks may not happen as long as the US naval blockade continues. At the same time, there are indications that Tehran could still participate through regional mediators.
Recent developments, such as the US capture of an Iran-flagged vessel, have further highlighted rising geopolitical risks.
Apart from global tensions, investor focus has shifted to domestic US developments, particularly the Senate confirmation hearing of Federal Reserve Chair nominee Kevin Warsh.
According to the expert, "his relatively hawkish stance on monetary policy and preference for a leaner balance sheet have previously weighed on bullion." This outlook has contributed to the pressure on gold prices, reported the news agency.
The cautious sentiment was visible in energy markets as well. Oil prices fell by up to 2 per cent during the session.
Brent crude futures dropped 1.71 per cent to USD 93.84 per barrel, hitting an intraday low around 12:30 p.m. Meanwhile, US West Texas Intermediate (WTI) crude traded at USD 85.5, down 2 per cent from its previous close.
(With IANS Inputs)
