Gold and Silver Prices Drop Amid India-Pakistan Tensions, Gold Falls Below ₹97,000; Check the Latest Rates

New Delhi (The Uttam Hindu): Gold and silver prices declined today on the Multi Commodity Exchange of India (MCX) amid rising geopolitical tensions between India and Pakistan and ahead of the US Federal Reserve's upcoming monetary policy announcement. Gold price on MCX today opened at ₹ 96,900 per 10 grams, lower than its previous close price of ₹ 97,491. As of 9:05 am, gold on MCX was trading at ₹ 96,650 per 10 grams, down by ₹ 841 or 0.86%. It is worth noting that gold prices had risen by more than 3% in the previous trading session.

Silver prices also opened lower on MCX today. At 9:05 am, silver was trading at ₹ 96,450 per kg, down ₹ 251 or 0.26%.

Market experts believe that the increased tension between India and Pakistan and the possible stance of the Federal Reserve on interest rates are affecting the commodity market. Let us tell you that the geopolitical tension between India and Pakistan increased when the Indian armed forces carried out 'Operation Sindoor' by carrying out precision attacks on terrorist infrastructure in Pakistan and Pakistan-occupied Kashmir (POK). Nine terrorist hideouts were targeted in this military action.