Gold and silver dip across India, gold ₹1.52L per 10g
Business
Gold and silver prices just took a dip across India this Thursday.
Gold is now at ₹1.52 lakh per 10gm on MCX, while silver dropped 2% globally to $76.17 an ounce.
This slide matches what's happening worldwide, where gold also slipped 0.7% as investors reacted to changing market vibes.
Brent above $100 curbs gold demand
Rising oil prices are a big reason: Brent crude is now over $100 a barrel thanks to tensions in West Asia, especially near the Strait of Hormuz.
Higher oil costs usually mean more inflation, which pushes central banks to keep interest rates high.
That makes gold less appealing since it doesn't earn interest, so prices are staying pretty flat for now.