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The Economic Times
The Economic Times
Veer Sharma

Gold prices fall by Rs 2,000/10 grams, silver dips by Rs 5,400/kg as rising oil prices spur rate hike bets. Should you sell?

Gold silver Oil MCX United States Manoj Kumar Jain Inflation Interest Rates Strait of Hormuz

Gold and silver prices opened sharply lower on the MCX on Monday, extending losses for a second session as fears over the closure of the Strait of Hormuz pushed oil prices sharply higher, fuelling concerns that inflation could remain elevated and keep interest rates higher for longer.

In the domestic market, MCX silver futures for September 2026 delivery were down Rs 5,400 (2.5%) to Rs 2,17,277 per kg. Gold futures for August 2026 delivery fell by Rs 2,000 to Rs 1,41,557 per 10 grams.

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