Gold and silver prices decline amid interest rate concerns

Gold and silver prices have experienced a downward trend in both domestic and international markets. On the MCX, gold futures fell below the ₹1.50 lakh per 10 gram mark, with prices trading around ₹1,48,100 per 10 gram. Silver also saw a decline, with MCX contracts trading near ₹2,28,550 per kilogram.

This volatility is attributed to rising crude oil prices and expectations of potential interest rate hikes by the Federal Reserve. In the international market, gold prices on COMEX reached a seven-week low, trading near $4,224.60 per ounce, while silver fell below $62.50 per ounce.

In major Indian cities, gold prices for 24-carat purity varied, with Delhi recording rates around ₹1,48,950 per 10 grams and Mumbai near ₹1,48,880 per 10 grams. Silver prices in these regions were reported at approximately ₹2,40,000 per kilogram.