New Delhi, August 14, 2026 (Yes Punjab News)
Gold and silver prices declined sharply on Friday, with silver falling more than 1 per cent on the Multi Commodity Exchange (MCX), as heightened US-Iran tensions weighed on market sentiment.
Gold futures for October delivery fell as much as 0.8 per cent, or Rs 1,233, to Rs 1,52,233 by 10:22 a.m. The yellow metal was later trading at Rs 1,52,415, down Rs 1,051, or 0.68 per cent.
Gold had opened at Rs 1,53,200 and touched an intraday high of Rs 1,53,200 during the session, which was Rs 266, or 0.17 per cent, lower than the previous close.
Silver futures for September delivery declined to an intraday low of Rs 2,32,454, down Rs 2,993, or 1.27 per cent. The white metal was last trading at Rs 2,32,880, lower by Rs 2,567, or around 1 per cent.
Silver opened at Rs 2,33,780 and touched an intraday high of Rs 2,33,982, which was Rs 1,465, or 0.62 per cent, below the previous close.
The selling pressure followed reports that US Treasury Secretary Scott Bessent had warned of unprecedented economic measures against Iran, including economic isolation and a continued blockade of the Strait of Hormuz.
Market experts said MCX gold extended its downward momentum after facing resistance near Rs 1,55,500. Immediate resistance is seen at Rs 1,53,000-Rs 1,53,500, with a sustained move above that range potentially taking prices towards Rs 1,54,000-Rs 1,54,500.
On the downside, support is placed at Rs 1,52,000-Rs 1,51,500, followed by stronger support around Rs 1,51,000.
Experts noted that gold remains above its major exponential moving averages (EMAs), although the MACD points to slowing bullish momentum and the RSI has retreated from overbought territory, indicating possible near-term pressure.
For MCX silver, immediate support is seen around Rs 2,32,000, followed by stronger support at Rs 2,31,500-Rs 2,31,000.
Silver has slipped below its 20-day EMA, while the MACD and RSI are also showing weakening momentum. Experts said the near-term bias remains cautious, with a break below Rs 2,32,000 potentially triggering further downside.
FOLLOW NOW
