Precious Metals Slide Amid Strong Dollar and Surging Oil Prices

Silver and gold prices declined in the national capital as a firm US dollar and rising crude oil prices fueled inflation concerns. Silver fell by Rs 3,400 while gold traded nearly flat. Global tensions and economic indicators are expected to continue influencing market sentiment.

In the national capital, precious metals saw a dip in trading as the US dollar strengthened and crude oil prices surged. Silver prices nosedived by Rs 3,400, settling at Rs 2.68 lakh per kilogram on Monday, following a volatile trend in the global markets.

Meanwhile, the price of gold remained almost unchanged at Rs 1,64,300 per 10 grams, compared to Friday's rates, with global tensions and economic factors continuing to influence market dynamics.

Analysts suggest that surging energy costs may intensify inflationary pressures, delaying potential interest rate cuts by the Federal Reserve, thereby affecting the strength of the dollar and treasury yields. Investors are keenly observing key US economic indicators and geopolitical developments in West Asia for further insights.

(With inputs from agencies.)