The price of 24-carat gold dropped by ₹10, settling at ₹1,59,480 per ten grams in early trading on Saturday. Similarly, the price of silver fell by ₹100, with one kilogram priced at ₹2,84,900. The price of 22-carat gold also decreased by ₹10, trading at ₹1,46,190 for ten grams. In major cities, the prices varied slightly, with Chennai showing higher rates for both gold and silver. The decline in prices is linked to a stronger US dollar and rising oil prices, which have intensified inflation concerns and speculation regarding a potential interest rate hike by the US Federal Reserve. Spot gold fell 0.9% to $4,502.59 per ounce, indicating a trend of declining prices across precious metals, including platinum and palladium, which are also on track for weekly losses. This trend reflects broader economic uncertainties affecting the market.