Business
Archived — This article has been archived. The information may be outdated.
Gold silver fall on inflation fears
Times of India··25 Jul
Gold fell over 2 percent and silver nearly 4 percent on July 24 as oil-driven inflation fears hit precious metals. Domestic gold traded around Rs 141800 per 10g from a peak near Rs 146000. India discounts hit a seven-week high up to $56 per ounce. MCX August gold settled at Rs 141972 amid weak retail demand.
Prism
What It Means For You
- Gold fell over 2 percent and silver nearly 4 percent on July 24 on oil-driven inflation fears.
- Domestic gold traded around Rs 141800 per 10g from a peak near Rs 146000.
- India discounts hit a seven-week high of up to $56 per ounce on MCX August gold at Rs 141972.
What's Happening
- Precious metals dropped sharply on July 24 as oil-linked inflation concerns shifted investor sentiment.
- Domestic gold retreated from recent highs above Rs 146000 per 10 grams.
- Silver fell nearly 4 percent alongside gold in domestic and MCX trading.
Precious Metals Retreat From Peak
- Oil-driven inflation fears can reverse safe-haven gold flows despite geopolitical tension.
- Seven-week high India discounts suggest import parity pressures on local bullion markets.
- MCX August contracts reflect near-term trader positioning after the July peak.
all-newstop-storiesdaily-roundup
