On May 17, gold and silver prices in India experienced a notable decline, influenced by a stronger US dollar and rising crude oil prices. 24-karat gold was priced at ₹159,110 per 10 grams, while 22-karat gold stood at ₹145,851 per 10 grams. Silver (999 fine) was priced at ₹271,740 per kg. In major cities, prices varied slightly; for instance, in New Delhi, 24-karat gold was ₹158,550 per 10 grams, and in Mumbai, it was ₹158,820. The drop in prices is attributed to rising U.S. Treasury yields and inflation concerns linked to geopolitical tensions, particularly the conflict involving Iran. According to Tata Mutual Fund, gold prices are expected to consolidate in the near term amidst mixed macroeconomic signals, with potential short-term volatility of around ±5%. Silver prices may also fluctuate due to demand concerns in the industrial sector, although a deteriorating global economic outlook could limit medium-term demand.