Gold plunges ₹3,200 to 10-month low of ₹1.42 lakh; silver slides ₹4,200
Rising energy prices, inflation concerns and expectations of tighter US monetary policy have intensified selling pressure across precious metals markets
Gold prices in India plummeted to a 10-month low of ₹1.42 lakh per 10 grams on Saturday, with silver also sliding by ₹4,200 to ₹1.86 lakh per kilogram. The decline in precious metals was attributed to rising energy prices, inflation concerns, and hawkish commentary from the US Federal Reserve, which dampened expectations of monetary easing. Overseas markets saw a sharp drop in gold prices, with the metal falling nearly 4% to USD 3,875.55 per ounce, while silver declined by 6% to USD 49.12 per ounce.
Brief written by urgent.news from Hindu BusinessLine's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
