In domestic trading, silver futures for July 2026 delivery slipped Rs 700 to Rs 2,66,011 per kilogram. Gold futures for August 2026 delivery also traded lower at Rs 1,59,342 per 10 grams. In the previous session, both precious metals had ended with modest gains, with silver advancing about 0.13%.
The geopolitical backdrop remained tense after the US military reported that missile attacks launched by Iran towards Bahrain, Kuwait and other regional locations were either intercepted or failed to reach their intended targets. The developments came at a time when diplomatic engagement between Washington and Tehran showed little sign of meaningful progress.
At the same time, crude oil prices rose more than 1% in early trade, raising fresh concerns that higher energy costs could feed inflation and make the interest-rate outlook more challenging for policymakers.
In global markets, spot gold fell 0.2% to $4,476.50 per ounce as of 0103 GMT, while US gold futures for August delivery declined 0.3% to $4,504.40 per ounce. Other precious metals also traded lower, with spot silver shedding 0.5% to $74.73 per ounce, platinum easing 0.2% to $1,932.25 per ounce and palladium declining 0.3% to $1,365.25 per ounce.
