Gold And Silver Prices Ease On COMEX As Geopolitical Tensions Keep Traders Cautious

Gold and silver prices edged lower in early trade on Tuesday, as investors weighed volatile global cues and awaited key macroeconomic signals.

On the COMEX, gold fell by 0.61% to $4,656.10 per ounce, while the price of silver fell by 0.63% to $72.39 per ounce, oscillating between $71.67 and $73.51.

What Caused the Fall In Gold And Silver Prices?

Prices fell amid uncertainty over the possibility of a ceasefire in West Asia. The strength of the US dollar and higher bond yields were also preventing prices from rising further.

Although prices rose significantly last week, up by more than 4%, gold and silver remain well below their recent peaks. Since the beginning of the conflict involving Iran, Israel, and the United States, gold prices have fallen by more than 10%, while silver prices have fallen by more than 22%.

The pattern represents a complete reversal from their performances in 2025, when silver rose by over 165%, while gold gained more than 75%.

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What Is The Outlook For Gold And Silver Prices?

Developments in the ongoing Iran conflict, along with upcoming inflation data, could influence the direction of gold and silver. Even with tensions in play, both metals have stayed relatively quiet so far.

One reason could be the rise in crude oil prices. That can keep central banks on a tighter policy path for longer. When rates stay high, gold and silver usually do not attract as much interest.

Support from central banks has also eased after a period of strong buying. The CME FedWatch tool shows the US Federal Reserve held rates steady last month, and markets currently see little chance of rate cuts this year.

The markets will be keeping a close eye on the upcoming U.S. inflation data and events in West Asia that affect geopolitics.

In the short term, changes in oil prices, currency values, and expectations for interest rates will continue to be the main factors that affect gold and silver.

Sources:

CNBC-TV 18

Mint

Business Standard