Gold, silver tumble as global rate fears trigger sharp precious-metals correction - The New Indian Express

AI desk brief

Gold and silver sold off sharply on Sept. 28, with spot gold down more than 2% and silver falling even harder as higher-for-longer Fed expectations, a firmer dollar and rising Treasury yields hit non-yielding metals. In India, 24-carat gold was quoted around Rs 1,50,992-Rs 1,51,477 per 10 grams across major cities, while silver traded near Rs 2.33 lakh/kg, reflecting the global weakness.\n\nThe article flags a negative near-term setup despite ongoing support from inflation चिंता, US-Iran geopolitical risk and a weaker rupee, with one source saying gold needs to reclaim Rs 1,50,000 to stabilise, while a break below Rs 1,48,000 could open Rs 1,46,000. Internationally, the next catalyst remains US rates, real yields, the dollar and crude-driven inflation expectations.