Gold and silver prices witnessed a steep decline at the opening of trade on the Multi Commodity Exchange (MCX) on Monday, as escalating tensions in the Middle East and inflationary pressures linked to higher crude oil prices reinforced expectations of elevated global interest rates.
Silver futures on the MCX, expiring in May 2026, dropped by Rs 13,606, or 6 per cent, to Rs 2,13,166 per kilogram. Gold futures for April 2026 delivery also saw a sharp fall, slipping Rs 7,115, or 5 per cent, to Rs 1,37,377 per 10 grams.
