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The Economic Times

Business

Veer Sharma

Gold prices dip Rs 3,200/10 gram; silver falls Rs 6,700/kg as high oil prices raise rate hike bets. Time to sell?

Gold silver Oil United States MCX Manoj Kumar Jain Inflation Iran

Gold and silver prices opened sharply lower on the Multi Commodity Exchange (MCX) on Monday as rising oil prices stoked inflation concerns and strengthened expectations of further Federal Reserve rate hikes.

In the domestic market, MCX silver futures for September 2026 delivery were down by Rs 6,661 to Rs 2,28,035 per kg. Gold futures for October 2026 delivery dipped by Rs 3,214 to Rs 1,47,667 per 10 grams.

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