Gold drops over Rs 3,400, silver cheaper by Rs 11,000: Is it time to invest?
India Today
Despite global tensions, gold and silver turned cheaper, with gold down Rs 3,400 and silver down Rs 11,000. Does this decline signal a good entry point for investors?
Gold and silver prices continued to fall on Monday, surprising many investors who usually expect precious metals to rise during global tensions. Despite the ongoing conflict involving the US and Iran, both metals declined sharply in the domestic market.
On the Multi Commodity Exchange (MCX), gold and silver prices dropped significantly on the first trading day of the week. At the time of writing, gold was trading at around Rs 1,55,000 per 10 grams, down by Rs 3,466 or 2.19%. Silver was priced at about Rs 2,47,348 per kilogram, falling by Rs 11,434 or 4.41%.
Market data shows that both gold and silver opened lower and remained under pressure during the trading session. The fall has surprised traders because precious metals generally act as safe-haven assets during periods of geopolitical tension.
According to Gaurav Garg, Research Analyst at Lemonn Markets Desk, global factors are playing a major role in the current price movement.
“Gold and silver prices in India saw a decline today, with gold trading at Rs 1,48,614 per 10 grams and silver at Rs 2,35,573 per kg, reflecting international prices of $5003.95 per ounce and $79.32 per ounce, respectively,” Garg said.
He added that the drop in prices is mainly linked to rising crude oil prices.
Sensex has declined over 6,000 points or roughly 7.5% in a little over two weeks as global tensions and rising oil prices triggered selling in equities.
Speaking in Parliament, Union Petroleum and Natural Gas Minister Hardeep Singh Puri said India has adequate fuel stocks, and there is no cause for concern over availability.
Industry sources told India Today TV that airline operators are now paying additional insurance charges for every aircraft flying into the Middle East, significantly increasing the cost of operations on these routes.
Under law, a domestic household is generally allowed to keep two LPG cylinders of 14.2 kg each at a time. This usually includes one cylinder connected for use and another spare cylinder kept as backup.
Early signals from GIFT Nifty suggest that the benchmark indices could open lower when trading begins. GIFT Nifty futures were trading at 23,784.50 at around 7:58 am. This indicates that the Nifty 50 may open below Wednesday's closing level of 23,866.85.
When markets fall sharply, fear often takes over investing decisions. But did you know continuing SIPs during market crashes has historically rewarded disciplined investors?
The move comes as global energy markets remain on edge due to escalating tensions linked to the conflict involving Iran, which has raised fears of disruptions to crude oil shipments from the Middle East.
India consumes roughly 5.3 to 5.5 million barrels of crude oil every day. However, domestic production is only about 0.6 million barrels per day. This means the country depends on imports for nearly 85% of its oil needs.
At around 10:47 am, the BSE Sensex was down 750.68 points or 0.96% at 77,455.30, while the Nifty 50 slipped 208.25 points or 0.86% to 24,053.35.
Air India said the fuel surcharge is due to the sharp rise in aviation turbine fuel (ATF) prices since early March 2026, triggered by supply disruptions in the Gulf region.
Rahul Bhatia expressed gratitude to employees who worked tirelessly to restore operations during that challenging period, praising their resilience and dedication.
The Iran-US conflict has disrupted shipping through a key global oil export route, pushing oil prices higher. As a result, airline tickets on some routes have become much more expensive, and there are growing concerns that travel demand could weaken if the situation continues.