Gold and Silver Prices Decline Amid Rising Oil Prices and Fading Fed Rate Cut Expectations

Gold and silver prices declined amid fading hopes of near-term US Federal Reserve rate cuts and ongoing geopolitical tensions in West Asia. Elevated crude oil prices above $100 per barrel have heightened inflation concerns and strengthened the US dollar, weighing on precious metals' safe-haven appeal. Indian markets saw gold futures fall over 1%, with silver futures dropping nearly 2%, reflecting weak domestic demand and cautious investor sentiment ahead of the Fed's policy meeting. The rupee also weakened, adding pressure on domestic bullion prices.