Gold Prices Tumble in Delhi Amid Crude Oil Spikes and Geopolitical Jitters

Gold and silver prices in Delhi dropped on Wednesday due to rising crude oil rates and lingering geopolitical uncertainty. The yellow metal of 99.9% purity fell by ₹800 to ₹1,58,000 per 10 grams, down from Tuesday's close of ₹1,58,800 per 10 grams.

Jateen Trivedi, VP Research Analyst - Commodity and Currency at LKP Securities, said higher crude oil rates have added to concerns over inflation and the broader economic outlook. The absence of fresh talks between Washington and Tehran has kept traders cautious.

Gaurav Garg, Head of Research at Lemon Markets Desk, noted that bullion remained under pressure as investors await the Federal Reserve meeting minutes for insights on future interest-rate path.