New Delhi, Aug. 31 -- The price of the yellow metal in India's retail market plunged on Monday, 31 August, amid resumption of exchange in strikes between US and Iran after a month-long pause as the US struck Iranian rocket launchers on Sunday. Gold 24 carat fell 1.22% to trade around Rs.154,940 per 10 gram at 9:10 AM while 999 silver declined 1.37% to trade around Rs.238,870 per kg.

The change in bullion price comes as the markets reopened on Monday after the first US military action against Iran in more than a month. CENTCOM claimed that that the Islamic Republic was preparing to send mines into the Strait of Hormuz due to which it ended weeks of relative calm and attacked Iran "to protect civilian mariners, commercial shipping, and the...