Delhi gold, silver fall on oil spike and inflation fears
Business
Gold and silver prices dropped on Thursday, thanks to a spike in crude oil rates and fresh inflation worries.
In Delhi, 24-karat gold slipped by ₹400 to ₹149,200 per 10gm, while silver is down ₹300 at ₹229,700 per kilogram.
The All India Sarafa Association confirmed these changes.
Oil surge pushes global metals lower
Globally, gold fell by 1% to $4,091.17 an ounce and silver nearly 2% to $58.65 an ounce.
This comes after crude oil jumped almost 6%, hitting $99.51 a barrel, following a ship attack in the Red Sea that raised geopolitical tensions.
Analysts say higher oil prices and ongoing inflation fears are making investors cautious about gold for now.