SRINAGAR: Gold prices in India continued their downward trend on Thursday, with both 24-carat and 22-carat gold rates witnessing a marginal decline across major cities. The fall comes amid weak global cues and rising geopolitical tensions following continued US military strikes on Iran, which have kept investors on edge.According to the latest market data, silver prices also slipped in the domestic bullion market. On the Multi Commodity Exchange (MCX), gold futures fell 0.15% to ₹1,43,940 per 10 grams, while silver futures declined 0.39% to ₹2,22,450 per kilogram.Market experts said investor sentiment remains cautious as the conflict in West Asia continues to fuel uncertainty in global financial markets. Fresh developments involving the US-Iran conflict have increased fears of prolonged regional instability, impacting commodity prices worldwide.Meanwhile, crude oil prices extended their rally on concerns over possible supply disruptions in the Middle East. Brent crude for September delivery rose 1.03% to $78.82 per barrel, while US West Texas Intermediate (WTI) crude for August delivery gained 1.06% to $74.29 per barrel, after surging more than 4% in the previous trading session.Analysts believe that gold prices, silver rates, and crude oil prices are likely to remain volatile as investors closely track geopolitical developments in West Asia. Global economic uncertainty and fluctuations in energy markets are expected to remain key factors influencing the precious metals market in the coming days.
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