Gold futures slid 0.49% to $4,129.60, silver down 1.15% to $57.045, while Brent crude rose 1.2% to $110.11 and WTI gained 1% to $98.12, according to COMEX data retrieved Thursday morning.
The decline follows a 48‑paise rise in the rupee to 94.43 versus the dollar, making dollar‑denominated metals cheaper for Indian traders, said the Reserve Bank of India’s daily bulletin.
India’s gold price fell ₹1,300 to ₹1.49 lakh per 10 g, silver down ₹1,600 to ₹2.13 lakh per kg, as reported by the All India Sarafa Association.
Higher oil levels feed inflation worries, tightening the Fed’s rate outlook; a hike would increase the opportunity cost of holding non‑yielding assets like gold and silver.
Market watchers are keeping an eye on West Asian developments and the upcoming Fed meeting; any shift could swing precious metals in the next session.