US-Iran war, March 16 -- With no signs of de-escalation in the US-Israel-Iran war, gold and silver prices have remained sideways, while global equity markets have remained under sell-off pressure. The Indian stock market is also not insulated from this geopolitical tension, as Dalal Street indices witnessed a sharp sell-off across segments. The Nifty 50 index today broke below the psychological 23,000 mark during the early morning dealings, but it recovered from the intraday low and touched an intraday high of 23,501, more than 2.35% from today's low of 22,955. The key benchmark index is currently around 1.50% above the Friday close.

In contrast to the Indian stock market, the MCX gold rate today witnessed a sharp sell-off and is current...