Now Reading: Gold falls Rs 437, silver Rs 836; US-Iran row weighs
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Gold falls Rs 437, silver Rs 836; US-Iran row weighs
Gold and silver prices fell for a second day on August 14. On the Multi Commodity Exchange, gold for October delivery dropped Rs 437 to Rs 1,54,445 per 10 grams, while silver…
The Story in Brief
Gold and silver prices fell for a second day on August 14. On the Multi Commodity Exchange, gold for October delivery dropped Rs 437 to Rs 1,54,445 per 10 grams, while silver for September delivery fell Rs 836 to Rs 2,36,999 per kg. In Delhi retail markets, 24-karat gold was at Rs 1,52,100 per 10 grams and silver at Rs 2,33,360 per kg. Analysts attributed the fall to weak spot demand and a sell-off. Livemint linked the drop to US Treasury Secretary Scott Bessent’s warning of new economic measures against Iran. Globally, gold futures declined 0.31 per cent and silver was flat.
The Indian Opinion
Attributing every precious metals dip to a fresh geopolitical flashpoint has become a reflex. This time, weak spot demand and profit-taking are as plausible as the US-Iran rhetoric. Indian households buy gold for festivals, not wars. The real test will come with the next import data and whether the MCX open interest stays low. If physical buying does not pick up for the upcoming festive season, the narrative of 'safe-haven buying' will look hollow.
Sources (3): thehindubusinessline.com, thehindubusinessline.com (2), livemint.com
This story was synthesised by AI from the 3 sources linked above.
Updated: this story now draws on 3 sources.
