Gold, silver prices drop in Delhi as rising crude oil rates, geopolitical worries weigh on bullion
Gold falls ₹800 to ₹1,58,000/10g; silver slips ₹5,730 to ₹2,35,000/kg
Gold and silver prices in Delhi dropped on Wednesday due to rising crude oil rates and geopolitical concerns. The yellow metal, which is 99.9 percent pure, fell to ₹1,58,000 per 10 grams from ₹1,58,800 the previous day. Silver also declined, sliding ₹5,730 to ₹2,35,000 per kilogram, according to the All India Sarafa Association.
The drop in gold prices was attributed to the end of the US-Iran ceasefire window without new talks, which kept investor sentiment cautious. The sharp rise in crude prices added to inflation worries and economic outlook uncertainties. Bullion traders were awaiting Federal Reserve meeting minutes for insights on future interest rates.
In international markets, spot gold increased by nearly 1 percent to $4,361.76 per ounce, while silver remained flat at $63.33 an ounce.
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