Gold and silver prices began Monday with sharp losses on the Multi Commodity Exchange of India as surging energy costs weakened expectations of near term interest rate cuts in the United States due to rising inflation concerns. Worries that the Federal Reserve may find it difficult to reduce rates if oil prices remain high have partly reduced gold’s appeal as a safe haven.
Crude oil prices stayed above $100 per barrel as the US-Israeli conflict with Iran moved into its third week, keeping energy markets under strain.
On the MCX, silver futures for May 2026 delivery dropped Rs 4,335, or 1.7%, to Rs 2,55,101 per kg. Gold futures for April 2026 delivery also declined, falling Rs 1,811, or 1.1%, to Rs 1,56,655 per 10 grams.
