Gold prices dip Rs 3,000/10 gram this week, silver plunges Rs 7,300/kg as oil rally raises rate hike bets. What’s next?

Gold prices edged higher on MCX while silver traded slightly lower on Friday. Renewed U.S.-Iran fighting lifted oil prices, stoking inflation concerns and rate hike expectations. MCX silver futures for September 2026 delivery were down Rs 745. Gold futures for August 2026 delivery declined by Rs 385. For the week, gold declined Rs 3,000 and silver Rs 7,000.

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