Gold and silver prices opened sharply lower on Monday, driven by escalating Middle East tensions that pushed oil prices higher and fueled inflation concerns. This surge in oil prices strengthened expectations that interest rates could remain elevated for longer, impacting bullion markets. Investors are closely watching for further clues on the U.S. Federal Reserve's monetary policy outlook.

Analysts predict volatility in gold and silver markets next week due to import curbs and US-Iran tensions.

Gold and silver prices opened sharply lower on Monday, driven by escalating Middle East tensions that pushed oil prices higher and fueled inflation concerns. This surge in oil…