CRUDE OIL PRICE SURGE , GOLD & SILVER DECLINE : SAMVAT 2082 COMMODITY MARKET ANALYSIS

What happened: Brent crude surged during Samvat 2082 on the US-Iran conflict, while gold and silver gave back much of their earlier rallies. Key numbers: Brent rose 60.4 per cent to $97.7 a barrel, with a high close of $113.6 on May 4. Gold fell 6.6 per cent and silver 0.8 per cent in dollar terms. Why it matters: Higher oil prices and resulting inflationary pressures contributed to interest rate hikes in the US and India, weighing on precious metals. A weaker rupee and import duties kept Indian investors' returns positive.

Brent crude surged during Samvat 2082 on the US-Iran conflict, while gold and silver gave back much of their earlier rallies.

Higher oil prices and resulting inflationary pressures contributed to interest rate hikes in the US and India, weighing on precious metals. A weaker rupee and import duties kept Indian investors' returns positive.