Gold Prices Fall Rs 500 Amid Strong Dollar, Weak Global Cues - Rediff MoneyWiz

AI desk brief

Indian gold fell Rs 500 to Rs 1,46,400 per 10 grams, while local silver held at Rs 1,92,500 per kilogram, including taxes. International spot gold declined nearly 1% to $4,113.55 an ounce and silver fell over 1% to $52.77. Traders attributed gold’s weakness to softer global bullion prices, a firm dollar and subdued Diwali buying. Mudrex analyst Akshat Siddhant said Brent’s decline to $89.85 a barrel eased inflation concerns amid hopes of progress towards ending the US-Iran conflict. Upcoming US inflation data could influence Federal Reserve rate expectations; lower oil alone does not establish a directional bullion outlook.