Gold and Silver Prices Plummet After Attack on World’s Largest Gas Field

Gold Silver Price Today: A significant drop has been observed in gold prices. Silver has also become considerably cheaper. Prices are down due to the US Fed not implementing a rate cut.

Gold Silver Price Today: Gold prices are seeing a decline today, Thursday. Gold futures in the domestic market also traded in the red. In early trade on the MCX exchange, the domestic futures price of gold traded 0.70 per cent, or ₹1076, lower at ₹1,51,949 per 10 grams. This decline in gold is being observed due to the US central bank, the Federal Reserve's, policy decision released on Wednesday night. Meanwhile, Israel has attacked Iran's South Pars gas field, which is the world's largest gas reserve.

US Fed Did Not Cut Interest Rates

The Federal Reserve has decided not to change interest rates for the second consecutive time. The target range for the Federal Funds Rate is currently 3.5 to 3.75 per cent. The market had the same expectation from the Fed. Prior to this, in September, October, and December 2025, the Fed had cut interest rates by 0.25 per cent each time. Meanwhile, due to excessive volatility in prices, there is no demand for gold in the domestic market either. This is causing the prices to fall.

Significant Drop in Silver Prices Too

Along with gold, silver prices are also witnessing a significant decline. Silver futures in the domestic market have fallen sharply. In early trade on the MCX, the price of silver traded 1.65 per cent, or ₹4094, lower at ₹2,44,100 per kilogram.

Global Gold Prices

Global gold prices have shown a mixed trend. On COMEX, the global price of gold traded 0.89 per cent, or $43.60, lower at $4,852.60 per ounce. Meanwhile, Gold Spot was trading 0.69 per cent, or $33.08, higher at $4,851.58 per ounce.

Global Silver Prices

Global silver prices are also showing a mixed trend. On COMEX, the global price of silver traded 2.49 per cent, or $1.93, lower at $75.66 per ounce. Meanwhile, Silver Spot was trading 0.42 per cent, or $0.29, higher at $75.66 per ounce.