Gold and Silver Prices Fall in India as Stronger US Dollar Fuels Rate‑Hike Fears

Gold futures on India's Multi Commodity Exchange slipped about 1.5 % to ₹1,50,140 per 10 g, while spot gold dropped 1.8 % to $4,187.59 per ounce, reaching an 11‑week low. Silver futures fell roughly 1 % to ₹2,36,239 per kg. Traders linked the declines to a firmer US dollar, rising crude‑oil prices amid Middle‑East tensions, and expectations that the US Federal Reserve will keep interest rates higher for longer. The CME FedWatch tool showed more than 70 % odds of a Fed rate hike by December, pressuring bullion priced in dollars.

Other Indian commodity markets also weakened: crude oil contracts fell 5.5 % to ₹8,230, copper slipped 0.55 % to ₹1,328.20, and aluminium decreased 2.13 % to ₹377.10. Analysts noted that as the dollar strengthens, bullion becomes more expensive for holders of other currencies, contributing to cautious to negative bias in the near term.