Gold and silver prices in India contracted slightly in early trade on Monday as markets showed mixed responses amid the ongoing US-Israel war on Iran.
Analysts said precious metals could see further corrections in the coming week as investors closely monitor geopolitical developments in West Asia and upcoming central bank meetings that could influence global policy direction.
Domestic gold rates hovered around ₹159,080 per 10 grams, while silver traded at ₹259,710 per kg, according to bullion websites.
In international markets, spot gold gained 0.1 per cent to $5,022.02 an ounce as of 8:55 a.m. Singapore time. Silver rose 0.8 per cent to $81.23 an ounce.
In Mumbai, 24-carat gold was priced at around ₹158,800 per 10 grams. Similar trends prevailed across most cities, though Delhi saw slightly lower rates at ₹158,520 per 10 grams.
Amid elevated prices over the past six months, demand for gold in India has moderated marginally. Investors who typically shift to equities have also supported gold and silver as safe-haven assets during heightened global uncertainty.
Silver followed a similar pattern, with Mumbai rates at ₹259,240 per kg and Delhi at ₹258,790 per kg.
It remains to be seen whether these precious metals can sustain current levels once the Iran war concludes and factors such as Russia’s potential entry into dollar payment systems — touted by experts as a major influence — begin to affect 2026 demand dynamics.
Also read: Gold, silver prices ease as West Asia war weighs on demand
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