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As on : 20-Jul-2026

Other Markets - Bullion Markets
20-Jul-2026 13:19

Gold weakens while silver rebounds above $56 amid Middle East turmoil

Gold traded below the $4,000-per-ounce mark on Monday, hovering near a nine-month low as surging crude oil prices and escalating US-Iran hostilities reignited concerns over inflation and the possibility of higher global interest rates. While geopolitical tensions typically enhance gold's safe-haven appeal, markets remained focused on the inflationary impact of rising energy prices, which could prompt central banks to maintain a tighter monetary stance, weighing on the non-yielding precious metal. In contrast, silver recovered above $56 per ounce after recent losses, supported by a weaker US dollar, although it remained near its lowest level in eight months. On the domestic front, MCX August gold futures edged 0.5% higher to Rs 1,41,550 per 10 grams, while September silver futures advanced more than 1% to Rs 2,18,838 per kg as investors balanced geopolitical uncertainty against evolving interest rate expectations.

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