Gold and silver prices witnessed renewed selling in Monday's trade as tensions in the Middle East resurfaced, raising concerns regarding the effectiveness and long-term viability of a long-term truce between the US and Iran. According to reports from Live Mint, COMEX gold futures dropped by $127 per troy ounce to an intraday low of $4,808, while silver futures fell $3.13 to a low of $78.71. Both metals had closed last week with sharp gains, with gold rising 2% and silver rallying 7%. The latest developments show Brent crude futures advanced $4.81, or 5.32%, to $95.19 a barrel and US West Texas Intermediate was at $88.81 a barrel, up $4.96, or 5.92%, as oil prices jumped more than 5% on fears that the ceasefire between the United States and Iran could collapse after the US seized an Iranian cargo ship.
In the domestic market, the near-month gold futures contract on MCX dropped ₹1,810 to ₹1,52,799 per 10 grams, while silver futures on MCX also fell ₹6,412 per kilogram, touching an intraday low of ₹2,50,730 earlier in the day. As reported by Live Mint, the yellow metal has recovered ₹10,327 over the past three weeks and has also rallied ₹25,014 from its March low of ₹1,29,595. Silver futures have gained ₹29,188 over the last three weeks and rebounded ₹57,499 from their March low of ₹1,99,643.
Iranian President Masoud Pezeshkian has firmly rejected US pressure, stating that 'Iran will not submit to force' and emphasizing that 'honoring commitments is the basis of meaningful dialogue'. According to reports from Live Mint, Pezeshkian said there remains 'deep historical mistrust' in Iran toward the conduct and performance of the US government, while unconstructive and contradictory signals from American officials carry a bitter message indicating they seek Iran's surrender. The Iranian president warned that 'the people of Iran will not bow to coercion' and criticized the US for carrying out behaviors that do not indicate seriousness in pursuing a diplomatic process.
Despite President Trump's announcement that Vice President JD Vance would lead a delegation to Pakistan for talks on Monday, Iran has indicated it has 'no plans for the next round of negotiation' and 'no decision has been made in this regard'. As reported by Live Mint, Iran's Foreign Ministry spokesman Esmaeil Baqaei stated that 'while claiming diplomacy and readiness for negotiations, the US is carrying out behaviours that do not in any way indicate seriousness in pursuing a diplomatic process'. The first round of talks in Islamabad last week ended with no breakthrough, with Washington proposing a 20-year suspension of all Iranian nuclear activity while Iran suggested a halt of three to five years.
A detailed analysis by BBC has revealed concerning patterns of unusual trading activity occurring minutes before major public statements by US President Donald Trump during his second term. The report examined trading volumes across multiple financial markets and found repeated spikes occurring just before key announcements, with some analysts citing these patterns as 'bearing the hallmarks' of insider trading. One notable example occurred on March 9, 2026, during the US-Israel conflict with Iran, when oil prices plunged by about 25% after Trump told CBS News the war was 'very complete, pretty much'. However, the BBC reported that a surge in bets anticipating a fall in oil prices took place 47 minutes before the interview became public, with traders who positioned themselves early likely making millions of dollars. The analysis also highlighted unusual activity in prediction markets, with one user on Polymarket placing $32,500 in bets predicting the removal of Venezuelan President Nicolas Maduro just days before he was seized, netting over $436,000.
