Gold, silver slip in India, 24K at ₹1.54L per 10g
Business
Gold prices in India slipped a bit on Wednesday, with 24-karat gold futures down 0.2% to around ₹1.54 lakh per 10gm.
Silver also edged lower by 0.3%, now close to ₹2.52 lakh per kilogram.
Even with this minor drop, gold is still hovering near its recent highs, and the next big price hurdle is expected at ₹1.60 lakh per 10gm.
Eased US Iran tensions hit metals
Globally, gold lost some shine after tensions between the US and Iran eased, so fewer people are rushing to buy it as a safe bet right now.
Rising oil prices and talk of possible US interest rate cuts are also shaking things up for both gold and silver markets.
Analysts: sentiment may cap gold gains
Analysts say that while global uncertainties still give gold some support, better market vibes could keep prices from shooting up much more in the short term.