Gold, silver extend losses as crude oil prices rise amid West Asia tenions - Business Standard

AI desk brief

Gold and silver extended losses on Oct. 22 as crude oil spiked toward $98/bbl after drone attacks on Saudi oil facilities, reinforcing inflation concerns and pressuring precious metals. Comex gold was trading near $4,110/oz and silver near $56.50/oz; on MCX, gold was near ₹1,44,600/10g and silver near ₹2,04,800/kg.

The MCX December gold contract opened ₹1,087 lower at ₹1,44,992/10g versus the previous close of ₹1,46,079, underscoring the bearish near-term tone while energy-driven inflation expectations dominate the tape.