Iran war impacts gold silver market:Silver becomes over 16,500 per kg cheaper in 19 days

Gold and silver prices are down today. According to the India Bullion and Jewelers Association (IBJA), the price of one kilogram of silver has decreased by ₹2,177 to ₹2.50 lakh. Earlier on Tuesday, its price was ₹2.52 lakh per kilo. Meanwhile, 10 grams of 24 carat gold fell by ₹143 to ₹1.55 lakh. Earlier on March 17, gold was ₹1.56 lakh per 10g. Due to the US-Iran war, gold became cheaper by ₹4,778 and silver by ₹18,138 in three days. After Iran war, gold cheaper by ₹3,572 and silver by ₹16,537
Due to the US-Iran war, gold became cheaper by 3,572 and silver by 16,537 in the last 19 days. Earlier on March 27, gold was at 1.59 lakh and silver at 2.67 lakh. Due to the Middle East war, investors are selling metal to save cash. Why Gold and Silver Prices are Falling Despite Middle East Tensions Usually, gold and silver prices rise in a war-like environment, but this time the situation is slightly different: Cash Savings: Due to the Middle East conflict, investors are hesitant to take risks. They are selling their gold and silver to accumulate ‘cash’ so they have liquid money during uncertain times.
Profit Booking: Prices reached record levels in January, so large investors started selling their holdings at high prices, increasing the supply in the market and causing prices to fall.
Impact of Interest Rates: The Federal Reserve’s strict stance on interest rates in the United States has also slightly dimmed the luster of precious metals. According to commodity expert Ajay Kedia, this decline in gold and silver prices may continue. As a result, gold could fall to ₹1.50 lakh and silver to ₹2.50 lakh. Therefore, investors should avoid investing in gold and silver for now. 2 Things to Keep in Mind When Buying Gold from Jewellers 1. Buy Only Certified Gold: Always buy certified gold with a Bureau of Indian Standards (BIS) hallmark. This number can be alphanumeric, like this: AZ4524. Hallmarking indicates the carat of the gold.
2. Cross-Check the Price: Cross-check the correct weight of the gold and its price on the day of purchase from multiple sources (such as the India Bullion and Jewellers Association website). The price of gold varies according to 24 carat, 22 carat, and 18 carat.