In international markets, spot gold gained nearly 1% to $4,361.76 per ounce, while silver traded flat at $63.33 an ounce.
Gold prices declined by ₹800 to ₹1,58,000 per 10 grams in the national capital on Wednesday as rising crude oil rates and lingering geopolitical uncertainty weighed on investor sentiment.
The yellow metal of 99.9 per cent purity had closed at ₹1,58,800 per 10 grams on Tuesday.
Silver also declined, dragged by heavy selling, tumbling ₹5,730 to ₹2,35,000 per kilogram (inclusive of all taxes), from the previous close of ₹2,40,730 per kg, according to the All India Sarafa Association.
Gold prices traded weak as higher crude oil rates continued uncertainty after the US-Iran ceasefire window ended without fresh talks, which kept investors’ sentiment cautious, said Jateen Trivedi, VP Research Analyst – Commodity and Currency, LKP Securities.
The sharp rise in crude prices has added to concerns over inflation and the broader economic outlook, while the absence of fresh talks between Washington and Tehran has kept traders cautious.
Gaurav Garg, Head of Research at Lemon Markets Desk, said bullion remained under pressure as investors are awaiting the Federal Reserve meeting minutes later in the day for fresh insights on the future interest-rate path.
In international markets, spot gold gained nearly 1 per cent to $4,361.76 per ounce, while silver traded flat at $63.33 an ounce.
For bullion traders, the day’s moves reflected a market caught between geopolitical uncertainty and rising energy costs, with gold’s safe-haven appeal failing to translate into gains at home.
Published on August 19, 2026
