Forex
Gold Slumps Rs 500 as Crude Oil Prices Soar
Gold prices dropped by Rs 500 per 10 gram in India's capital on Monday as crude oil prices surged and the US dollar strengthened, putting pressure on precious metals.
The price of gold with 99.9% purity fell to Rs 1,55,400 per 10 grams from its previous closing price of Rs 1,55,900.
Meanwhile, silver prices remained steady at Rs 2,34,600 per kilogram, including taxes, according to local traders.
In international markets, spot gold declined by 1.3% to USD 4,291.71 an ounce, while silver fell nearly 3% to USD 62.82 due to investors reassessing the outlook for US interest rates.