Today is the 22nd day since the Israeli and American attacks on Iran. This attack, which began on February 28, has shaken the global economy. Gold and silver have also been spared. It is generally believed that when global tensions arise, the price of gold and silver increases. However, this is not the case in the Iran war. Instead of increasing, the price of gold and silver has been continuously falling. Let us tell you that in just one week, the price of 24 carat gold has fallen by ₹13,690. Talking about today’s prices, on March 22, 24 carat gold is trading at ₹146,120 per 10 grams in the national capital Delhi. In Mumbai, the price is ₹145,970 per 10 grams.
This is especially a matter of concern for those who bought both the metals 2-3 months ago due to rising prices. Now, the prices have come down considerably compared to that time. They are waiting for their prices to go up. Meanwhile, many people had bought these metals when gold and silver became cheaper. Now, they are also waiting for their prices to go up.
Gold prices rose sharply from last year to the end of January this year. Last year, it had risen by about 70%. On January 29, it reached around ₹1.92 lakh per 10 grams on MCX. Four days later, it fell significantly, bringing its price down to around ₹1.39 lakh. Now, after the Iran war, it is falling again. On February 27, gold was at ₹1,62,104 per 10 grams. Yesterday, Friday, gold for April delivery fell by ₹129 to close at ₹1,44,825. As a result, it has fallen by about 11% in 21 days.
Silver has also not escaped the impact of the Iran war. It also saw a record rise last year, returning about 160% in a year. On January 29, 2026, it reached its highest level on MCX. At that time, the price of silver was more than ₹2.30 lakh per kg. After that, it also fell below ₹2.30 lakh within four days. Now, its price is also falling due to the Iran war. On February 27, the price of silver per kg was ₹2,82,644. Yesterday, on Friday, silver for May delivery fell by ₹3,990 to close at ₹2,27,470. Thus, it has fallen by about 20% in these 21 days.
