Gold, silver prices slip up to 1% on high US yields, global tensions - The Assam Tribune

AI desk brief

Gold and silver slipped up to 1% on the MCX as elevated US yields and renewed US-Iran tensions pressured non-yielding metals. December gold traded at Rs 1,48,410/10g, down 0.33%, after an intraday low of Rs 1,48,150, while December silver fell 0.93% to Rs 2,25,338/kg after hitting Rs 2,24,500.

The article says spot gold was already down 4% in the prior session to a seven-week low, with higher energy prices from the Strait of Hormuz standoff adding to the cautious tone. Traders flagged gold resistance at Rs 1,50,000-1,50,700 and support at Rs 1,48,000-1,47,300; for silver, resistance sits at Rs 2,27,000-2,28,000 and support at Rs 2,24,000-2,23,000, with a break lower potentially opening Rs 2,20,000.