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Commodities

Indian Gold and Silver Prices Plummet Amid US Bond Yields and Crude Oil Surge

Guavy AI Editorial Team
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The prices of gold and silver in India plummeted on Tuesday, September 29. MCX Gold declined to Rs 1.46 lakh per 10 grams, while MCX Silver fell to Rs 2,24,841 per kilogram. The decline is attributed to the rising US bond yields and elevated crude oil prices due to heightened tension in the Middle East.

The Indian gold futures market saw a significant drop on Tuesday. Gold futures for December delivery dropped by Rs 419 to Rs 1,46,385 per 10 grams. In contrast, in the international market, gold futures rose by 0.23% to USD 4,125.32 per ounce in New York.

Silver futures also saw a sharp decline on Tuesday. Silver futures for December expiry fell by Rs 2,601 to Rs 2,24,841 per kilogram. The sell-off by participants mainly weighed on silver prices.

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