Gold Prices Drop in Delhi as Investors Await US Inflation Data

Gold prices in Delhi dropped for the third consecutive day to Rs 1,58,000 per 10 grams on Wednesday amid subdued demand. The decrease comes as investors remain cautious ahead of crucial US inflation data and potential interest rate impacts.

Silver bucked the trend, surging by Rs 2,300 to Rs 2,43,400 per kilogram, according to the All India Sarafa Association.

Market experts attribute the gold price drop to investors taking a cautious approach ahead of US inflation data. Rising crude oil prices have also revived concerns over persistent inflation and elevated interest rates, limiting the upside in bullion.

In global markets, spot gold gained USD 43.67, or 1 per cent, to USD 4,399.22 per ounce, while silver rose nearly 1 per cent to USD 66.25 per ounce.