Gold slips ₹23,000 while silver is down ₹56,000 since August
Business
Silver and gold just saw some major price drops: silver is down ₹56,000 since August, now at ₹192,800 per kilogram, and gold has slipped by ₹23,000 to about ₹140,000 per 10gm.
These metals usually feel pretty "safe" during tough times, but even they're feeling the heat from all the economic uncertainty right now.
US Federal Reserve rate uncertainty
A lot of this comes down to nerves about what the US Federal Reserve will do next: there's talk of possible interest rate hikes thanks to higher-than-expected inflation in the US
Add in rising bond yields and oil prices (with Brent crude close to $115 per barrel because of Middle East tensions), and investors are on edge.
Everyone's waiting for clues from the Fed's meeting later this month to see where things go from here.