Gold, Silver Prices Crash: Metals Plunge as US-Iran Tensions Ease, Nuclear Talks Begin

• Gold and silver prices experienced a sharp decline for the second consecutive day, with silver plummeting by ₹15,000 per kg on MCX.
• Silver prices dropped to ₹2,29,872 per kg, hitting a 6% lower circuit on MCX, while gold fell by 0.82% to ₹1,50,675 per 10 grams.
• The price crash is attributed to easing tensions between the United States and Iran, as both countries began discussions on a potential nuclear deal.
• Investors are shifting from safe-haven assets like gold and silver to the US dollar, which strengthens and puts pressure on precious metal prices.
• Market experts suggest that the rally in metals has peaked, and prices could fall further before gradually rising towards a much lower fair value.