Bhubaneswar, March 23 -- Gold prices in India have declined despite rising geopolitical tensions triggered by the ongoing conflict involving the United States, Israel and Iran. Analysts say the unexpected drop is largely due to a margin call environment, where investors are selling profitable gold holdings to offset losses in equities.

In major cities, gold prices showed slight variations on Monday. In Delhi, 22-carat gold was priced at Rs 1,25,467.27 per 10 grams, while in Mumbai, it stood at Rs 1,25,592.74. Chennai recorded higher rates at Rs 1,26,596.47, followed by Kolkata at Rs 1,26,471.01 per 10 grams.

Market experts note that gold, traditionally considered a safe-haven asset during global uncertainties, is facing selling pressure...