Gold, silver prices drop 1% on inflation, rate hike fears

Gold and silver are precious metals that people buy to keep their money safe.

On Friday, 14 August, their prices went down by almost one percent.

That happened in early deals at an Indian market called the MCX.

Prices fall when people worry that making money from them will get harder.

One big worry is inflation, which means things like food and fuel get more expensive.

When inflation stays high, the US Federal Reserve might raise interest rates, and that makes gold less attractive.

Some people also sold gold to take profits after prices had gone up a lot.

At the same time, oil prices rose a little because of a conflict in the Middle East.

The US Navy is blocking ports in Iran, which makes oil shipping uncertain.

Experts disagree on what happens next — some think gold prices may fall more, while others think they could recover.