Gold slips below ₹1.50 lakh as US-Iran impasse lifts dollar; silver tumbles

Gold and silver prices fell sharply on Monday, September 28, with gold futures on the MCX dropping below ₹1.50 lakh per 10 gram and Comex gold touching a seven-week low near $4,230 per ounce. The decline was driven by an impasse in US-Iran talks keeping crude oil prices elevated, which strengthened expectations that the Federal Reserve could raise interest rates further. A stronger dollar and higher rates pressure non-interest-bearing assets like gold, according to Vikram Subburaj of Giottus.com. Silver also tumbled, with MCX futures falling below ₹2.30 lakh per kg and Comex silver slipping under $62.50 per ounce. Markets this week will track US inflation and employment data, oil prices, the dollar, and geopolitical developments, while Indian investors will watch rupee movements.