Gold and silver prices initially rose, but began to decline towards the end of the day on the Multi Commodity Exchange, with a notable reduction in future prices. Experts warn that despite this recent downturn, driven by concerns about U.S.-Iran relations and tariffs from the Trump administration, it is likely to be temporary, and prices may increase again imminently. On February 24, reports indicated a drop of over 1.2%, translating to a decrease of more than 2000 rupees for April gold futures, while silver also experienced a significant drop exceeding 6500 rupees.

This reduction in precious metal prices is attributed to trends of investors selling off their gold holdings amid geopolitical uncertainties. These factors have created a volatile environment for investment in these assets, which historically serve as a hedge against inflation and economic instability. As traders react to the shifting dynamics in international relations, analysts are keeping a close eye on market movements.

If the predicted rise in gold prices occurs, it could potentially make gold more accessible to consumers. An increase in gold prices is typically associated with a variety of factors, including market demand, collective investor sentiment, and broader economic indicators. Therefore, any subsequent rise in value will likely influence consumer behavior and investment strategies moving forward.