Gold hits 10-month low ₹1.42L per 10g amid global slide
Gold prices in the national capital have dropped by ₹3,200, hitting a 10-month low at ₹1.42 lakh per 10gm.
Silver isn't spared either. It's down ₹4,200 to ₹1.86 lakh per kilogram.
This slide matches what's happening globally, with gold seeing its second straight day of decline.
Energy, inflation, Fed fears hit metals
Rising energy costs, inflation worries, and talk of another US Fed rate hike are all putting pressure on gold and silver.
Globally, gold fell nearly 4% and silver about 6%.
Manav Modi, Commodities Analyst at Motilal Oswal Financial Services Ltd. points out that high oil prices and the chance of higher interest rates are making investors nervous.
Industrial exposure amplifies silver decline
Silver is used a lot in markets, so its price also gets hit when markets get shaky, like with the recent AI-driven stock market dip.
Manav Modi, Commodities Analyst at Motilal Oswal Financial Services Ltd. says silver's industrial exposure amplified its fall.