Gold, silver decline as US-Iran tensions weigh on sentiment

Gold and silver are shiny metals that people use for jewelry and saving money.

On Friday, their prices went down in India.

The reason was that people felt worried about tensions between the United States and Iran.

The US said it could bring in very strong new economic measures against Iran.

There were also reports about a possible blockade of a busy shipping route called the Strait of Hormuz.

Because of this worry, buyers were less interested in gold and silver.

The price of gold for delivery in October dropped by about one percent.

The price of silver also fell by about one percent.

Market watchers say prices might move a bit lower before they settle.

They are watching certain price levels to guess what happens next.