Gold Tumbles Third Day, Silver Surges Amid Inflation Concerns

Gold prices in India declined for the third consecutive day, falling to Rs 1,58,000 per 10 grams in New Delhi on Wednesday. The decline was largely due to subdued demand from local markets.

Silver bucked the trend and saw a significant surge of 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.

According to experts, investors are taking a cautious approach ahead of the release of US inflation data later this week. 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, said Saumil Gandhi, Senior Analyst - Commodities at HDFC Securities.