Gold prices fall to Rs 1.44 lakh/10 gram; silver dips Rs 6,300 this week as Iran war raises inflation worries. What’s next?

MCX gold futures for August 2026 delivery fell to Rs 1,44,860 per 10 grams, down about Rs 900 for the week, while silver futures dropped over 3 percent, shedding more than Rs 6,300. The decline comes as escalating US-Iran conflict has stoked inflation worries, with markets now pricing in a 64 percent probability of a US Fed rate hike in September, up from around 54 percent a week ago. Spot gold traded at $4,128.92 an ounce and silver at $60.46, with experts recommending profit booking on long positions amid geopolitical uncertainty.