Gold Prices Fall ₹500 In Delhi To ₹1.55 Lakh Per 10 Gram As Crude Oil Surge And Strong Dollar Pressure Bullion Markets
New Delhi, Sep 14: Gold began the week on the back foot, falling Rs 500 to Rs 1,55,400 per 10 gram in the national capital on Monday as a sell-off in global markets gathered pace amid a sharp rise in crude oil prices and the US dollar. The yellow metal of 99.9 per cent purity had closed at Rs 1,55,900 per 10 gram on Friday. However, silver bucked the trend and held steady at Rs 2,34,600 per…
Delhi's gold prices fell by ₹500 on Monday, reaching Rs 1,55,400 per 10 gram as global markets sold off due to rising crude oil prices and a strong US dollar. The purity of the 99.9 per cent gold metal had been at Rs 1,55,900 per 10 gram the previous day. Silver remained unchanged at Rs 2,34,600 per kilogram (including all taxes), according to local traders.
On the international stage, gold fell by USD 57.22, or 1.3 per cent, to USD 4,291.71 per ounce and silver dropped almost 3 per cent to USD 62.82. Analyst Akshat Siddhant from Mudrex investment platform explained that higher oil prices have heightened inflation concerns, further stressing gold and silver demand. Saudi Arabia's East-West pipeline was shut after drone attacks, pushing crude oil to a four-month high of USD 103 per barrel.
ANZ Bank predicts three 25-basis-point Federal Reserve rate hikes by March 2027, with geopolitical developments in the Middle East and higher energy costs contributing to inflation. Despite this, ANZ expects gold's safe-haven appeal to strengthen due to rising investor participation in India, growing institutional demand in China, and ETF holdings recovery.
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