Gold, Silver Prices Crash: Silver Hits Lower Circuit, Gold Down 8th Day

• Gold and silver prices witnessed a sharp decline on Monday, with silver hitting a lower circuit on MCX.
• Gold prices fell for the eighth consecutive day, wiping out nearly all gains for the year.
• The crash is attributed to escalating tensions between the US and Iran amidst the West Asia war.
• International gold prices fell over 2% to a four-month low, while spot silver dropped 3.2%.
• Rising oil prices, increased inflation risk, and expectations of interest rate hikes are negatively impacting gold.