Gold, silver rate today: Following the escalation in the US-Iran war and soaring crude oil prices, gold and silver prices came under pressure on Monday. The MCX gold rate today opened lower at ₹1,54,177 per 10 gm and touched an intraday low of ₹1,53,596 per 10 gm within a few minutes of the Opening Bell. The MCX silver rate today opened upside at ₹2,51,001 per kg. However, the precious white metal soon came under pressure and touched an intraday low of ₹2,41,990 per kg within a few minutes of the early morning deals.
Similarly, gold and silver prices are under pressure in the international market. The COMEX gold rate is down by nearly 0.50% at $4,342 per oz. The COMEX silver rate is also down by nearly 1.60% down at $68/ounce.
According to market experts, gold and silver prices are under pressure today amid renewed inflation concerns. They said crude oil prices rose today after an escalation in the US-Iran war, which has fueled inflation concerns. Experts maintained that soaring crude oil prices and inflation buzz is negative for the markets as it would fuel speculations for a US Fed rate hike in the upcoming US Fed meeting.
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