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Gold Rates & Silver Rates Today LIVE: MCX Gold Gains Rs 1,000, Silver Jumps Rs 2,500 Ahead Of Evening Session

Gold rates and silver rates in India continued to be under pressure on July 9, 2026, as US-Iran tensions intensify. In the early trade, MCX gold is below Rs 1,43,500 mark and trading lower. While MCX silver crashed by over Rs 1,000 to trade around Rs 2.22 lakh mark, but silver has plunged to hit an intraday low of Rs 2,21,502 per 1Kg. This is due to global selloffs in safe haven.

On the global market, spot gold dropped below $4,070 per ounce, marking it second consecutive decline. While spot silver dropped by 1% to trade below $58 per ounce.

US President Donald Trump has declared that the ceasefire agreement with Iran is over after the latest strikes on commercial vessels at Strait of Hormuz. The US retaliated and carried out several airstrikes in retaliation, impacting more than 80 military infrastructure bases at Iran.

Trump has warned of additional new blockade against Iran.

Meanwhile, gold and silver prices were also impacted after FOMC minutes signaled that policymakers favored a rate hike in 2026, due to elevated inflationary concerns. So far, at least one rate hike is predicted by end of 2026.

Due to surge in geopolitical risks at West Asia, crude oil prices climbed by 1%. US WTI Crude is near $75 per barrel and Brent Crude is near $79 per barrel.

Also, dollar continued to trade near 101 mark, and is on track for weekly gains due ot the renewed tensions in Middle East that has heightened the expectations of rate hike.

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