Gold price today slips below ₹1.42 lakh; silver falls nearly 1% amid Middle East tensions

On Friday, gold and silver slipped, each dropping close to 1% as a firmer US dollar and rising Middle‑East tensions dampened investor appetite.

On the MCX, August gold futures kicked off at ₹1,42,392 per 10 g, 0.30% below the prior close of ₹1,42,821 per 10 g.

Around noon, the yellow metal slipped as far as ₹1,079 (0.75%) to an intra‑day trough of ₹1,41,742 per 10 g, hit a peak of ₹1,42,518, and was last seen at ₹1,42,376, down ₹445 (0.31%).

September silver futures likewise opened lower at ₹2,18,280 per kg, 0.49% under the previous close of ₹2,19,375 per kg.

The white metal fell as much as ₹2,050 (≈1%) to an intra‑day low of ₹2,17,325 per kg, while it briefly rose to a high of ₹2,20,000 per kg.

Internationally, precious metals stayed under pressure; COMEX gold lost 0.48% to $4,030/oz and silver slipped 0.41% to $57.80/oz.

Analysts linked the decline in gold and silver to a stronger US dollar index, which rose above 101 as US‑Iran tensions intensified.

Technically, MCX gold opened with a gap‑down, fell below the ₹1,42,000 level and kept a weak tone near ₹1,41,500.

Immediate support sits at ₹1,41,500; a breach could push prices toward the ₹1,41,000‑₹1,40,700 band.

On the upside, initial resistance lies between ₹1,42,700 and ₹1,43,000, with a stronger barrier at ₹1,43,700‑₹1,44,000; analysts note the near‑term view stays weak unless gold regains the first resistance zone to regain momentum.

Silver MCX futures also opened gap‑down and traded with a weak undertone; immediate support is seen in the ₹2,16,700‑₹2,16,000 zone, then the ₹2,14,500‑₹2,14,000 area.

Upside resistance for silver is placed at ₹2,19,000‑₹2,20,000, with the next obstacle at ₹2,22,000‑₹2,23,000; analysts say the near‑term outlook stays weak unless silver clears the first resistance band.

Moreover, the US‑Iran clash has escalated recently, with Iran allegedly striking US bases in the Middle East and the US persisting with attacks on Iranian military sites.