Gold Prices Tumble in India as Crude Oil Costs Soar

Gold prices experienced a sharp decline of Rs 500 per 10 grams in India's national capital on Monday, influenced by rising crude oil costs and a stronger US dollar.

The price of gold with 99.9% purity fell to Rs 1,55,400 per 10 grams from its previous close of Rs 1,55,900 on Friday.

Silver prices remained steady at Rs 2,34,600 per kilogram, including taxes, according to local traders.

In international markets, spot gold dropped 1.3% to USD 4,291.71 an ounce, while silver declined nearly 3% to USD 62.82 due to investors reassessing the outlook for US interest rates.