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Gold & Silver Plunge Amidst US-Iran Tensions
13 Apr
Summary
- Gold and silver prices dropped sharply on April 13 due to failed US-Iran talks.
- Spot gold fell over 2% to below $4,700/oz; silver also saw a near 2% decline.
- The ongoing Middle East crisis and potential shipping blockades intensified.
On April 13, 2026, gold and silver prices in India saw a significant drop, reacting to weak global sentiment. This downturn was triggered by the failure of US-Iran talks, which has heightened tensions in the Middle East.
Spot gold prices fell by more than 2%, trading below $4,700 per ounce, while spot silver experienced a similar decline of nearly 2%, falling below $75 per ounce. The situation intensified due to the continued blockade on the Strait of Hormuz and failed negotiations in Pakistan.
These events have driven crude oil prices higher, with WTI crude near $105 per barrel and Brent Crude above $102. The US dollar also strengthened. The effective shutdown of critical shipping routes has driven energy prices up and increased inflation risks, prompting expectations of delayed interest rate cuts by central banks.
