Silver slides alongside gold amid geopolitical risk and strong dollar

Mumbai, July 15 – The fallout from heightened tensions in the Middle East is being felt across precious‑metal markets. On the MCX, August 5 2026 gold futures opened at ₹1,41,148, a reduction of ₹1,109 from the previous close of ₹1,42,257. By 09:54 IST the contract had dropped further to ₹1,41,650, a 0.43 percent dip of ₹607.

Silver futures for September 4 2026 mirrored the trend, commencing at ₹2,21,926 versus the prior close of ₹2,23,189. The price later settled at ₹2,22,580, reflecting a decline of ₹609 or 0.27 percent.

In the global arena, spot gold slipped 0.71 percent to $4,040 per ounce, while silver weakened 0.45 percent to $58.84 per ounce. Traders point to the ongoing Middle East conflict as the catalyst, which is keeping the U.S. dollar index firmly above the 100 level, exerting downward pressure on gold and silver.

Indian equity markets, however, opened with a bullish tone, buoyed by encouraging signals from worldwide exchanges. The Sensex and Nifty each posted gains close to 0.5 percent in early sessions. Throughout Asia, major indices in Tokyo, Hong Kong, Bangkok, Seoul and Jakarta posted positive numbers, whereas Shanghai was the exception, finishing in the red. In the United States, the Dow Jones closed modestly higher and the Nasdaq technology index advanced 0.90 percent on Tuesday.