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Gold Falls ₹1,600 as Dollar and Oil Surge
Gold became cheaper in New Delhi by ₹1,600, reaching ₹1,52,400 for 10 grams.
This was the fourth day in a row that gold prices fell.
Silver fell even more, by ₹5,000 per kilogram.
A stronger US dollar and higher US interest-rate expectations made precious metals less attractive.
Higher Treasury yields also put pressure on gold and silver.
Oil prices rose because of worries about supplies from West Asia.
The weaker rupee helped limit how much domestic gold prices fell.
Traders were also watching tensions near the Strait of Hormuz and important meetings involving the United States and China.
Gold prices in New Delhi fell ₹1,600 to ₹1,52,400 per 10 grams on September 24, extending losses to a fourth session.
Silver dropped ₹5,000 to ₹2.37 lakh per kilogram after holding steady for two sessions.
Traders attributed the decline to a stronger US dollar, rising Treasury yields, higher crude prices, weak global cues and profit-taking.
Spot gold fell nearly 1% to USD 4,253.61 per ounce, while international silver prices declined 1.4% to USD 63.56.
Brent crude reached USD 106 per barrel amid West Asia supply concerns, while geopolitical tensions remained in focus.
- Who
- Gold and silver traders, investors, HDFC Securities analyst Saumil Gandhi, and Mirae Asset Sharekhan analyst Praveen Singh.
- What
- Gold fell ₹1,600 and silver fell ₹5,000 in New Delhi as precious metals faced pressure from global market conditions.
- Where
- New Delhi and international precious-metals markets, with geopolitical concerns centered on West Asia and the Strait of Hormuz.
- When
- September 24, 2026; the decline extended gold’s four-session losing streak.
- Why
- A stronger US dollar, rising Treasury yields, higher crude oil prices, subdued retail demand, weak global cues and profit-taking weighed on bullion.
Key facts
- Domestic gold price
- ₹1,52,400 per 10 grams for 99.9% purity, inclusive of taxes
- Domestic silver price
- ₹2.37 lakh per kilogram, inclusive of taxes
- Spot gold
- USD 4,253.61 per ounce after falling USD 33.74, or nearly 1%
- International silver
- USD 63.56 per ounce after declining 1.4%
- Rupee exchange rate
- ₹95.96 per US dollar
- Brent crude
- USD 106 per barrel
- October rate-hike probability
- Market participants were pricing a 70% probability of a Federal Reserve rate hike
Quotes
Praveen Singh
Head of Commodities at Mirae Asset Sharekhan
“The metal has slipped below USD 4,274 an ounce in global markets as crude oil leapt higher on supply concerns from West Asia”
freepressjournal.in
theprint.in
Sources
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