Gold Prices Plummet Amid Rising Oil Costs and Stronger Dollar

The prices of gold and silver in Indian markets declined on Wednesday due to rising crude oil prices, a stronger US dollar, and growing expectations of higher interest rates.

The decline came amid renewed tensions in the Middle East, which have added to concerns over inflation and global monetary policy.

According to retail rates, 24-karat gold was priced at ₹150,000 per 10 grams in New Delhi, while 22-karat gold stood at ₹137,500 per 10 grams. Silver of 999 purity was quoted at ₹231,010 per kilogram.

The prices varied across different cities, with Bengaluru's 24-karat gold rate at ₹150,160 per 10 grams and Hyderabad having the highest rate at ₹150,283 per 10 grams.