Gold, silver slide up to 1% on MCX as US-Iran tensions rattle markets
Synopsis
Gold and silver on MCX buckled under the weight of US-Iran geopolitical risk on 14 August, with Treasury Secretary Bessent threatening an economic blockade of the Strait of Hormuz. Paradoxically, the very tensions that should have boosted safe-haven demand instead triggered profit-booking after gold had already run close to ₹1,55,500 — a reminder that geopolitical fear and overbought technicals can pull in opposite directions.
Key Takeaways
MCX Gold (October) fell up to 0.8% to an intraday low of ₹1,52,233 on 14 August .
MCX Silver (September) dropped up to 1.27% to an intraday low of ₹2,32,454 .
Sell-off was triggered by US Treasury Secretary Scott Bessent 's warning of unprecedented economic measures against Iran , including a Strait of Hormuz blockade.
Gold faces key resistance at ₹1,53,000–₹1,53,500 and support at ₹1,52,000–₹1,51,500 , according to market experts.
Silver broke below its 20-day EMA ; analysts warn a breach of ₹2,32,000 could deepen losses.
Gold and silver futures on the Multi Commodity Exchange (MCX) fell sharply on Friday, 14 August, as geopolitical anxiety spiked after US Treasury Secretary Scott Bessent warned of unprecedented economic measures against Iran, including a combination of economic isolation and a continued blockade of the Strait of Hormuz.
How Gold Traded on MCX
MCX gold futures (October contract) dropped as much as 0.8%, or ₹1,233, to an intraday low of ₹1,52,233 by 10:22 am IST. At last count, the yellow metal was trading at ₹1,52,415, down ₹1,051 or 0.68% from the previous close. The session's intraday high was ₹1,53,200, itself a fall of 0.17% or ₹266 from Thursday's close. Gold had opened the session at ₹1,53,200.
Silver Under Heavier Pressure
MCX silver futures (September contract) bore steeper losses, hitting an intraday low of ₹2,32,454 — a decline of 1.27% or ₹2,993. The white metal was last trading at ₹2,32,880, down ₹2,567 or approximately 1%. Its intraday high of ₹2,33,982 still represented a fall of 0.62% or ₹1,465 from the prior session. Silver had opened at ₹2,33,780.
What Triggered the Sell-Off
The selling pressure followed reports that Bessent signalled Washington would deploy economic isolation alongside a blockade of the Strait of Hormuz — a critical global oil and trade artery — as leverage against Tehran. Such rhetoric typically lifts safe-haven demand for gold, yet analysts noted that broader risk-off sentiment and profit-booking after recent highs near ₹1,55,500 overwhelmed any flight-to-safety bid on Friday.
Technical Outlook: Key Levels to Watch
According to market experts, MCX Gold faces immediate resistance at ₹1,53,000–₹1,53,500; a decisive break above that zone could target ₹1,54,000–₹1,54,500. Immediate support lies at ₹1,52,000–₹1,51,500, with stronger support at ₹1,51,000. While the metal remains above all major exponential moving averages (EMAs), the MACD indicator points to slowing bullish momentum and the RSI has reversed from overbought territory, signalling near-term pressure.
For MCX Silver, experts place immediate support at the ₹2,32,000 zone, followed by stronger support at ₹2,31,500–₹2,31,000. The metal has broken below its 20-day EMA, with MACD and RSI both reinforcing a trend-reversal narrative. Analysts maintain a cautious bias, warning that a sustained breach of ₹2,32,000 could invite further downside.
With US-Iran diplomatic tensions showing no signs of immediate resolution, precious metals markets are likely to remain volatile in the sessions ahead.
Point of View
Yet both metals fell sharply. That tells you the market had already priced in a geopolitical premium near ₹1,55,500, and Bessent's remarks became the excuse to book profits rather than add positions. The Strait of Hormuz threat is serious — roughly 20% of global oil trade transits it — but precious metals traders appear more preoccupied with overbought technicals than with fresh geopolitical risk. If tensions escalate further into the weekend, the calculus could reverse quickly.
NationPress
14 Aug 2026
Frequently Asked Questions
Why did gold and silver prices fall on 14 August 2025?
Gold and silver fell on MCX on 14 August after US Treasury Secretary Scott Bessent warned of unprecedented economic measures against Iran, including a blockade of the Strait of Hormuz. The geopolitical uncertainty triggered profit-booking after both metals had recently approached multi-session highs.
How much did MCX gold fall on 14 August?
MCX gold (October futures) dropped up to 0.8%, or ₹1,233, to an intraday low of ₹1,52,233. At last count it was trading at ₹1,52,415, down ₹1,051 or 0.68% from the previous close.
What are the key support and resistance levels for MCX gold?
According to market experts, MCX gold faces immediate resistance at ₹1,53,000–₹1,53,500, with a break above potentially targeting ₹1,54,000–₹1,54,500. Immediate support is at ₹1,52,000–₹1,51,500, and stronger support at ₹1,51,000.
What happened to MCX silver prices today?
MCX silver (September futures) hit an intraday low of ₹2,32,454, a decline of 1.27% or ₹2,993. It was last trading at ₹2,32,880, down about 1%. The metal also broke below its 20-day EMA, with analysts flagging further downside risk if it breaches the ₹2,32,000 support zone.
What did US Treasury Secretary Scott Bessent say about Iran?
Bessent reportedly warned that the US would use a combination of economic isolation and a continued blockade of the Strait of Hormuz as leverage against Iran — measures he described as never-before-seen. The remarks rattled commodity markets and drove selling in precious metals.
