Business

Precious metals like gold and silver have seen significant price drops despite global uncertainties and inflation fears. This trend is attributed to a slowdown in de-dollarisation, potential interest rate hikes, central bank selling, and reduced industrial demand for silver. The war in West Asia has disrupted traditional market dynamics, leading to a bearish sentiment.

The move follows large-scale buying of Russian crude by Indian refiners, who secured more than 40 million barrels to deal with supply crunch from the Middle East.