Gold and Silver Prices Fall as Oil Slumps and Global Market Shock Hits

Crude oil prices dropped sharply, with WTI falling to about $70.66 per barrel and Brent to $74.05, after the US‑Iran tension eased. The decline helped keep gold and silver prices relatively steady in India on 26 June, with gold at ₹1,43,200 per 10 g (≈$4,034/oz) and silver at ₹1,268 per 10 g (≈$58/oz). The day before, on 25 June, oil fell below $72, gold rose briefly to ₹1,41,705 per 10 g (≈$3,989/oz) and silver to ₹1,807 per 10 g (≈$57/oz).

A separate shock came from a magnitude‑7 earthquake in Venezuela, which unsettled global commodity markets. Internationally, gold slipped below $3,960 per ounce and silver dropped under $60 per ounce. In India, 24‑carat gold fell to about ₹1,40,022 per 10 g and silver to roughly ₹2,15,485 per kilogram, reflecting the broader downturn caused by the earthquake and a stronger US dollar.