New Delhi, April 2 -- Gold and silver prices fell sharply on Thursday, April 2, after crude oil prices surged nearly 7% following U.S. President Donald Trump's first national address since the Iran war began, in which he said the United States would continue to strike Iran "very hard" over the coming weeks.

His remarks signalled that geopolitical tensions in the Middle East were likely to stay elevated for longer, triggering sharp moves across commodities and broader financial markets.

On the Multi Commodity Exchange (MCX), gold prices fell 4.3%, or Rs.6,608, to Rs.1,47,100 per 10 grams, while silver prices on MCX dropped 7.8%, or Rs.19,001, to Rs.2,24,500 per kg.

Meanwhile, in the international market, gold declined 3.4% to $4,648.20 ...