Gold Prices Fall for Third Straight Session in India

Gold prices in India's national capital fell for the third consecutive session on Wednesday, dropping by Rs 100 to Rs 1,58,000 per 10 grams. The decline was attributed to subdued demand in local markets.

Silver bucked the trend and rose by Rs 2,300 to Rs 2,43,400 per kilogram (inclusive of all taxes) from Tuesday's closing level of Rs 2,41,100 per kg. Saumil Gandhi, Senior Analyst - Commodities at HDFC Securities, noted that gold has remained within a narrow range due to investors taking a cautious approach ahead of the release of US inflation data.

Rising crude oil prices have revived concerns over persistent inflation amid escalating tensions in West Asia. Higher energy costs could add to inflationary pressures and limit the upside in bullion, according to Gandhi.