IBTimes

Gold and silver prices fell sharply on Thursday, with silver tumbling over 5% and gold slipping below Rs 1.51 lakh on the MCX, after US President Donald Trump's remarks on the Iran conflict failed to signal an immediate resolution.

The rally came despite global headwinds, including rising geopolitical tensions in West Asia and a surge in crude oil prices. Asian equities declined, and Indian stock markets opened lower. The RBI tightened rules on derivatives, bank positions, and forward contracts to stabilise the currency.

Gold and silver prices fell up to 2% on Monday, tracking weakness in global bullion markets amid fading hopes of a US Federal Reserve rate cut and rising inflation concerns. On MCX, gold dropped sharply to an intraday low of 1,44,212 per 10 grams, while silver also declined.

Nirmala Sitharaman clarified in the Lok Sabha that standard insurance coverage for bank lockers is fixed at 100 times the annual locker rent in case of loss, theft, or damage. Banks cannot inspect locker contents due to privacy and regulatory rules, making it impractical to offer coverage based on the actual value of stored items

Lok Sabha approved the Insolvency and Bankruptcy Code (Amendment) Bill, 2025, aimed at speeding up insolvency proceedings for defaulting companies. The Bill mandates a 14-day timeline for admitting insolvency applications once defaults are established and proposes 12 amendments to strengthen the resolution ecosystem

Global crude oil prices surged over 3% on Monday, nearing a 52-week high, as tensions in West Asia escalated following the involvement of Yemen's Iran-backed Houthi group. Brent crude rose to $116.70 per barrel, while West Texas Intermediate crossed $103.