Gold and silver prices experienced a significant decline today, falling by up to 3% as investors reassessed the geopolitical landscape following the announcement of direct talks between the US and Iran. The COMEX gold rate decreased over 1%, trading just above $4,700 per ounce after a prior gain of 1.5% over two sessions. Meanwhile, COMEX silver prices dropped 3% to $73 per ounce during Asian trading hours. The ongoing conflict, which has lasted nearly six weeks, has raised inflation concerns and affected energy prices, complicating the outlook for gold, which typically thrives in low-interest-rate environments. Analysts like Aksha Kamboj from the India Bullion & Jewellers Association recommend a staggered investment approach due to expected volatility. Technical analysis suggests that gold could face selling pressure if it breaks below $4,800, while silver's price may fluctuate around the $74 mark, indicating a strengthening demand in industrial sectors. Investors are advised to consult certified experts before making investment decisions.